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Ammonium Phosphates Market Size
Ammonium Phosphates Market size is expected to witness robust growth during 2024-2032, driven by the strong need to enhance agricultural productivity to feed the growing global population. As the world population is continuing to expand, there is increasing pressure on agricultural systems to produce higher yields and ensure food security. Ammonium phosphates provide essential nutrients like nitrogen and phosphorus to crops for improving soil fertility and enhancing crop yields. Farmers worldwide also rely on these fertilizers to optimize plant growth and maximize agricultural output, making them indispensable in modern farming practices.
Ammonium Phosphates Market Trends
With consumers favoring organic food products due to health and environmental concerns, there has been a corresponding rise in the adoption of organic farming practices. According to IFOAM Organics International, in 2022, the global organic farming area surged by over 20 million hectares, reaching 96 million hectares, with the number of organic producers surpassing 4.5 million. This trend is pushing the demand for fertilizers that meet organic certification standards to align with consumer expectations for chemical-free agriculture. As a result, ammonium phosphates derived from natural sources or produced using organic methods are gaining popularity among organic farmers. These organic-certified fertilizers not only help improve soil fertility and crop yields but also comply with stringent organic farming regulations, thus meeting the growing demand for sustainable and environmentally friendly agricultural practices.
Ammonium Phosphates Market Analysis
The market value from the mono-ammonium phosphate (MAP) type segment is expected to witness significant growth during the forecast period, due to rising preference for highly water-soluble fertilizers that provide a good source of phosphorus and nitrogen to plants. MAP is widely used in various crops, such as cereals, vegetables, and fruits to promote healthy growth and improve yields. Moreover, the increasing adoption of MAP in precision farming techniques and the growing trend of sustainable agriculture practices are further catering to the segment growth.
Ammonium phosphates industry from the food additives application segment is set to gain traction by 2032, due to the rising demand for processed food products. Ammonium phosphates are used as leavening agents in baked goods, such as bread, cakes, and pastries for providing texture and volume to the final products. Moreover, they are also utilized as acidity regulators and emulsifying agents in various food applications, further contributing to their adoption.
Asia Pacific ammonium phosphates market is anticipated to register a decent growth rate till 2032. The rapid industrialization and urbanization in China and India is leading to an increased demand for fertilizers and chemicals. Innovations, such as controlled-release fertilizers and precision agriculture technologies are gaining traction among farmers as they offer more efficient nutrient management with reduced environmental impacts. Several ammonium phosphates manufacturers are also investing in R&D activities to develop advanced fertilizer formulations that optimize nutrient uptake by crops while minimizing losses to the environment.
Ammonium Phosphates Market Share
Major players in the ammonium phosphates industry include:
- OCP Group
- Nutrien Ltd
- Yara International
- Jordan Phosphate Mines Company (Jordan Phosphate Mines Co.)
- Haifa Chemicals (Haifa group)
- Yunnan Yuntianhua International Chemical (Yunnan Yuntianhua International Chemical Co., Ltd.)
- Coromandel International
- Vinipul Inorganics Pvt ltd.
- Maaden-Saudi Arabian Mining Company (Ma'aden)
- Forbes Pharmaceuticals
- Innophos, Inc. (Innophos Holdings, Inc.)
- Chemische Fabrik Budenheim (Budenheim KG)
- Yidu Xingfa Chemical Co, Prayon
- Eurochem
These firms are engaged in strategic measures, such as product launches, acquisitions, and partnerships for gaining competitive edges while widening their customer base.
Ammonium Phosphates Industry News
In 2023, the Jordan Phosphate Mines Company announced new project after record production, including a partnership with a Turkish firm to build a 300,000-tonnes-per-year phosphoric acid plant.