About Monoammonium Phosphate
Monoammonium phosphate, also known as ammonium dihydrogen phosphate, is a chemical compound widely used as a source of phosphorus (P) and nitrogen (N). It has been an important granular fertilizer for many years. It is a water-soluble compound, which dissolves rapidly in adequately moist soil. It is also used as a feed ingredient for animals and in dry chemical fire extinguishers commonly found in offices, schools and homes. The use of Monoammonium phosphate as a fertilizer holds around 40% share of the market and is expected to grow further due to the increasing use of fertilizers in the agricultural countries such as India and Brazil.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.3% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Monoammonium Phosphate market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
EuroChem Group (Switzerland), Ma’aden (Saudi Arabia), OCP Group (Morocco), PhosAgro (Russia), The Mosaic Company (United States), URALCHEM (Russia), J B Chemicals and Pharmaceuticals Ltd (India), Hubei Liushugou Mining Industry Group (China), Sichuan Chuanxi Xingda Chemical (China) and Mosaic Crop Nutrition, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Haifa Chemicals Ltd. (Israel), Lifosa (Lithuania), Prayon S.A. (Belgium) and HELM AG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Monoammonium Phosphate market by Type (Food Grade, Pharma Grade, Fertilizer Grade and Industrial Grade), Application (Food & Beverage, Pharmaceutical, Health & Personal Care, Agriculture/Animal Feed/Poultry and Others) and Region.
On the basis of geography, the market of Monoammonium Phosphate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Monoammonium Phosphate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the Demand for Organic Fertilizers
Market Growth Drivers:
High Demand for Agricultural Fertilizers, Increasing Use of Monoammonium Phosphate in Animal Feed and Increasing Use for Various Industrial Applications
Challenges:
Stringent Government Rules and Regulations
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Growing Adoption of Precision Farming in Developed and Developing Countries and Growing Demand from Various Industries
Market Leaders and their expansionary development strategies
In September 2023, Itafos Inc. (TSX-V: IFOS) (“Itafos” or the “Company”) is pleased to announce that it has entered into a monoammonium phosphate sales agreement (the “MAP Offtake Agreement”) with J. R. Simplot Company, an international food and agriculture company.
In April 2023, Union Home Minister Amit Shah launched IFFCO’s liquid nano Di-Ammonia Phosphate (DAP) on Wednesday. Addressing a gathering on the occasion, Shah said, “The launch of IFFCO’s liquid DAP nano is an important beginning towards making India self-reliant in the field of fertilizers.
Key Target Audience
Monoammonium Phosphate Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.