Diammonium Phosphate Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment and Forecast 2019 - 2029
Diammonium Phosphate Market: Overview
Diammonium phosphate is a chemical salt that possesses water-soluble properties. It releases ammonia and phosphoric acid. Diammonium phosphate is a significant source of nitrogen and phosphate. When reacted with water, the released ammonia and phosphates result in increasing the pH, thus making it alkaline. This property finds a prominent place in the fertilizer sector and, in turn, may prove to be a great growth generator for the diammonium phosphate market across the forecast period of 2019-2029.
This diammonium phosphate market treatment market report analyzes diverse factors influencing the growth rate. Some major parameters such as key trends, competitive landscape, and the regional outlook of the diammonium phosphate market have been thoroughly studied and covered in this report. Market stakeholders can greatly benefit from this deeply scrutinized report on the diammonium phosphate market. Furthermore, this report also sees the diammonium phosphate market through the lens of the COVID-19 outbreak, thus giving a complete idea of the present market scenario.
Diammonium Phosphate Market: Competitive Analysis
The diammonium phosphate market is fragmented with numerous players vying for the top position. The players in the diammonium phosphate market are constantly focusing on research and development activities that help in exploring novel formulations, which will eventually help in expanding the commercial use of diammonium phosphate. Mergers, acquisitions, joint ventures, partnerships, and collaborations form an important part in terms of strengthening the growth base of players in the diammonium phosphate market. This aspect eventually leads to the growth of the diammonium phosphate market.
Some well-established players in the diammonium phosphate market are SABIC, Gujarat Narmada Valley, Sichuan Chuanxi Xingda Chemical, China Blue Chemicals, JR Simplot, Agrium Inc., CF Industries Holdings, Inc., PhosAfro, Yara, Acron, Bunge, and Israel Chemicals Ltd.
Diammonium Phosphate Market: Key Trends
The use of diammonium phosphate across various applications such as the food and beverage industry, fire retardants, metal industry, and brewing may bring great growth opportunities for the diammonium phosphate market. The use of diammonium phosphate in sugar purification may also bring considerable growth for the diammonium phosphate market. Fertilizers laced with ammonium phosphate help in nitrogen addition to the soil, eventually supporting the root development of the specific crop.
Monobasic ammonium phosphate, when used as an ingredient in dry chemical fire extinguishers, coats the fuel source. This property helps in smothering the flames effectively. The growing consumption of wine may also serve as a boon for the diammonium phosphate market.
The escalating percentage of biodegradable and eco-friendly fertilizer consumption may prove as a major growth disrupting factor for the diammonium phosphate market. Furthermore, diammonium phosphate is also used for enhancing the quality of nicotine in cigarettes. Thus, the increasing number of smokers may benefit the diammonium phosphate market.
Diammonium Phosphate Market: Regional Outlook
The diammonium phosphate market can be geographically segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Asia Pacific previously held the title of the largest growth contributor for the diammonium phosphate market and will continue to have a considerable influence across the forecast period. The thriving agriculture sector in India and China are the prominent reasons for the growth of the diammonium phosphate market.
Latin America may record steady growth during the forecast period due to the growing food requirements and advancements in the agriculture sector. North America and Europe may observe low growth as the influence of eco-friendly and biodegradable fertilizers are increasing at a rapid rate among the consumers across the region.
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