Market Overview:
Ammonium phosphate is the salt of ammonium and phosphate. It is used as an ingredient in some fertilizers as a high source of elemental nitrogen, supplying both nitrogen and phosphorus to plants and helping the plant convert many nutrients within the plant into building blocks of growth. Moreover, such fertilizers aid growth and root development, which helps regulate the pH levels in the soil and improve the quality of the soil and crop yield.
Ammonium polyphosphate is also used in electronics, optics, fire extinguishers, and more. Its applications can also be seen in consumer industries for water treatment, soaps, cleansers, or as a disinfectant. It is widely available in solid form, and is commonly available under the name of ammonium polyphosphate, di-ammonium phosphates, and mono-ammonium phosphates. Ammonium phosphate has applications in food additives, fertilizers, disinfectant, fire control, water treatment, cleansers, flame retardant, and others.
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Competitive Landscape:
Major players operating in the global ammonium phosphates market are Lanxess AG, Jordan Phosphate Mines Company, Yuntianhua Group Company Limited, CF Industries Holdings, Israel Chemical Ltd (ICL), PotashCorp, Coromandel, Haifa Chemical, Yara International, and United Phosphorus Limited Potash Corp. of Saskatchewan Inc., among others.
Key Market Drivers:
Increasing demand or utilization of fertilizers across the globe and rapidly growing agriculture industry is expected to propel growth of the ammonium phosphates market during the forecast period. For instance, according to the World Bank, in 2018, fertilizer consumption for United States of America was 128.8 kilograms per hectare of arable land.
Moreover, increasing demand for ammonium phosphates worldwide is expected to augment the growth of the ammonium phosphates market. For instance, in 2018, National Fertilizers (NFL), India’s State-owned fertilizer firm, planned to set up a di-ammonium phosphate (DAP) plant in Algeria (Country in North Africa) to meet the increasing demand.
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COVID-19 Impact Analysis:
The pandemic has severely impacted the growth of the ammonium phosphates market. As the governments worldwide announced total lockdown and the temporary shutdown of industries to curb the spread of the coronavirus. This in turn has hindered the growth of the market. However, agriculture is the only sector to clock a positive growth during the first wave of the pandemic. The second wave has had an impact on the just-concluded Rabi season. Moreover, the fertilizer industry has shown some resilience in the supply chain during the crisis. This in turn is expected to boost the growth of the market.
Key Takeaways:
The ammonium phosphates market is expected to exhibit a CAGR of 3.52 % during the forecast period due to the increasing demand for fertilizers around the world. For instance, according to the Food and Agriculture Organization of the United States, the total fertilizer nutrient demand is expected to reach around 201.66 million tons by the end of 2020.
Among regions, Asia Pacific is expected to witness substantial growth in the ammonium phosphates market, owing to the rapidly growing agriculture industry and rise in promotion of FDI in the agricultural sector. For instance, the Government of India has allowed 100% FDI through the automatic route into India for various agricultural activities: Floriculture, horticulture, apiculture, and cultivation under controlled conditions.
Moreover, in May 2021, Indian Government hiked the subsidy on di-ammonium phosphate or DAP fertilizers to retain the selling price for farmers at the current level. DAP is the second most commonly used fertilizer in India, with its sales of 119.13 lakh tones (lt) in 2020-21 next only to the 350.42 lt of urea.
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Important Features that are under Offering and Key Highlights of the Reports:
– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
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