Global Mono Ammonium Phosphate Market Outlook
According to a new report by Expert Market Research titled “Global Mono Ammonium Phosphate Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global mono ammonium phosphate market is projected to grow at a CAGR of 2% between 2024 and 2032. Aided by its extensive use in fertilisers and a variety of industrial applications, the market is expected to grow significantly by 2032.
Mono ammonium phosphate (MAP), with its chemical formula NH4H2PO4, is a highly efficient source of phosphorus and nitrogen for plants. It is widely used in the agricultural sector as a high-quality, water-soluble fertiliser. Beyond agriculture, MAP finds applications in flame retardants, food additives, and even in the electronics industry as a component in manufacturing certain types of semiconductors.
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The robust mono ammonium phosphate market growth is largely fuelled by the expanding agricultural sector. As global populations continue to surge, the demand for enhanced crop yields and more efficient fertilisers has become paramount. MAP, with its balanced nutrient profile and high solubility, has emerged as a preferred choice for farmers worldwide. Moreover, its low pH levels make it particularly suitable for alkaline soils, thus broadening its applicability in diverse agricultural settings.
Additionally, the trend toward precision agriculture and sustainable farming practices has influenced the mono ammonium phosphate market outlook. MAP’s ability to provide essential nutrients in a controlled manner aligns well with the principles of precision farming, which aims at maximising productivity while minimising environmental impact.
The expanding role of MAP in various industrial applications is also a key factor driving market growth. In the domain of flame retardants, mono ammonium phosphate is prized for its effectiveness in suppressing fires, especially in forest management and in the textiles industry. Furthermore, its role as a leavening agent in the food industry and its use in the electronics sector for the production of certain high-performance components underscore its versatility and the breadth of its market appeal.
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According to the mono ammonium phosphate market analysis, the burgeoning demand for food additives, driven by the global increase in food production and consumption, also contributes significantly to the growth of the MAP market. As a food additive, MAP serves as a pH regulator and a nutrient supplement, enhancing both the quality and nutritional value of various food products.
Global Mono Ammonium Phosphate Market Segmentation
The market can be divided based on application and region.
Market Breakup by Application
- Fertilisers
- Industrial
- Feed
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global market. Some of the major players explored in the report by Expert Market Research are as follows:
- Haifa Group
- ICL Group Ltd.
- Nutrien Ltd.
- Prayon S.A
- Sichuan Blue Sword Chemical (Group) Co. Ltd
- Wuhan Waking Lion Chemicals Co., Ltd
- Others
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