The projected growth rate of the Ammonium Phosphate market is around 3.3% during the forecast period (2019-2029). The demand from the fertilizer sector remains stable and even rising in emerging economies. Complementing the growth of the ammonium phosphate market are other end-use industries such as electronics and optics.
Demand for monoammonium phosphate to remain rampant in fertilizers
Mono Ammonium Phosphate (MAP) is a major component of granular fertilizer. Regulating pH and water solubility are among the most desirable features of MAP. Farmers continue to prefer ammonium phosphate for the sustainable and healthy growth of plants. The increasing demand for MAP in high pH soils is feeding the market in particular.
In suspended fertilizers, ammonium phosphate is used in powder form. Moreover, MAP has good processing and storage properties which enhance the demand for it among consumers. However, the controversy surrounding the potential environmental impact of ammonium phosphate-based fertilizers is limiting market growth.
- The fertilizer industry is in great demand for ammonium phosphate.
- High absorption of ammonium phosphate in fire extinguishers is driving market growth.
- Gains in the ammonium phosphate market to remain consolidated in the Asia-Pacific region.
- The ammonium phosphate market in Europe and North America will experience modest growth until 2029.
- The demand for organic fertilizers will limit the growth of the ammonium phosphate market in developed regions.
Asia Pacific accounts for 32.6% of the revenue in the ammonium phosphate marketRising demand for fertilizers due to increasing population boosts Asia Pacific ammonium phosphate market. The predominant markets for ammonium phosphate are China and India. Accordingly, the Asia Pacific region accounts for approximately 32.6% revenue share in the ammonium phosphate market.
On the other hand, consumers in Europe and North America have a growing tendency towards organic fertilizers. The growth of the ammonium phosphate market in these two regions will be relatively slow on this account. Moreover, stricter environmental standards in developed economies will hamper the growth of the regional ammonium phosphate market.
Geographical expansion remains the main strategic principle of global playersThe competitive landscape of the Natural Ammonium Phosphate market is standardized on a global level. However, in some regions, it is still fragmented with the proliferation of small and medium businesses. The major manufacturers reported in this study include, but are not limited to, OCP SA, Wengfu Group, Yara International ASA, Solvay SA, and Coromandel International Ltd. and Lanxess AG and Nutrien Ltd. and Jordan Phosphate Mines and Haifa Group.
The leading companies in the ammonium phosphate market are focusing on geographical and operational expansion in order to gain a greater foothold in the market. However, the demand for inorganic fertilizers remains stagnant in advanced economies. Hence, manufacturers need to shift their resources towards Asia Pacific markets where the use of ammonium phosphate based fertilizers is still prevalent.