Market players are focusing on investing in advanced solutions to gain a competitive advantage.
DUBAI, UAE / ACCESSWIRE / February 23, 2021 / Future Market Insights, Dubai: FMI states in its recent study on the ammonium phosphates market that the market will record a CAGR of 3.3% through 2029. Demand for ammonium phosphate is expected to continue to increase especially due to the surge in sales of fertilizers across all regions of the world.
"Premier companies in ammonium phosphate market are focused on geographic and operational expansion for a greater market foothold. Manufacturers need to divert their resources towards the Asia Pacific market where the use of ammonium phosphate based fertilizers is still prevalent." says the FMI analyst.
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Ammonium phosphate Market - Important Highlights
- According to product type, Demand for Mono-ammonium Phosphate is anticipated to Remain important in Fertilizers
- The Asia Pacific is expected to dominate the market due to the upheaval in demand for fertilizers in the region.
- Europe and North America will see moderate growth in the ammonium phosphate market by 2029.
Ammonium phosphate Market - Drivers
- The fertilizer industry accounts for a large market for ammonium phosphate which is a key market driver.
- The growing uptake of ammonium phosphate in fire extinguishers is driving growth in the industry.
- Favorable government projects and funding around the world for the setup of safety equipment across schools and workplaces are encouraging market growth.
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Ammonium phosphate Market - Restraints
- In developed regions such as America and Europe, the limited need for organic fertilizers would restrict the development of the market for ammonium phosphate.
- Demand growth is expected to be impeded by the harmful effects of overfertilization of inorganic fertilizers containing ammonium phosphate.
COVID-19 Impact on Ammonium phosphate Market
The ammonium phosphate market growth is anticipated to be hampered owing to the unprecedented COVID-19 pandemic. The ammonium phosphate market growth declined drastically when the manufacturing units experienced shutdowns for months and a deficiency in raw materials supply and shortage of human resources. But the market is expected to have a turnaround as economies steadily stabilize.
Competitive Landscape
The ammonium phosphate market players are leaning towards the expansion of the production facilities besides opting for planned and strategic collaborations to gain a competitive edge. On a global basis, the business structure of the ammonium phosphate industry is consolidated by default. In developed economies, however, the need for inorganic fertilizers tends to stagnate. Thus, manufacturers need to redirect their money to the Asia Pacific market, where the use of fertilizers dependent on ammonium phosphate is still prevalent. OCP SA, Wengfu Group, Yara International ASA, Solvay S.A., Coromandel International Ltd., Lanxess AG, Nutrien Ltd., Jordan Phosphate Mines Company, and Haifa Group are the primary producers featured in this report.
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Global Ammonium Phosphate Market Demand Analysis 2014-2018 and Forecast, 2019-2029
3.1. Historical Market Volume (Tons) & Value (Tons) Analysis, 2014-2018
3.2. Current and Future Market Value (Tons) & Volume (Tons) Projections, 2019-2029
3.3. Y-o-Y Growth Trend Analysis
4. Global Ammonium Phosphate Market - Pricing Analysis
4.1. Regional Pricing Analysis By Product Type
4.2. Pricing Break-up
4.2.1. Manufacturer Level Pricing
4.2.2. Distributor Level Pricing
4.3. Global Average Pricing Analysis Benchmark
5. Market Background
5.1. Macro-Economic Factors
5.1.1. Global Phosphates Market Overview
5.1.2. Global Ammonium Based Compounds Market Overview
5.1.3. Global Fertilizers Industry Overview
5.2. Forecast Factors - Relevance & Impact
5.3. Supply Demand Scenario
5.4. Production Overview
5.5. Value Chain
5.6. Market Dynamics
5.6.1. Drivers
5.6.2. Restraints
5.6.3. Opportunity Analysis
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About the Study
The study offers readers a comprehensive assessment of the ammonium phosphate market. Global, regional, and national-level analysis of the current trends influencing the market is covered in this FMI report. The study provides insights based on product type (Mono-ammonium Phosphate (MAP), Di-ammonium Phosphate (DAP), Ammonium Polyphosphate), application(Fertilizers, Fire Extinguishers, Food & Beverages, Water Treatment Chemicals, Detergents & Soaps), and across key regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights