A report released by Research and Markets forecast that the global ammonium phosphate market, in terms of volume, will grow close to 78 million t by 2022.
An analyst from the research team said: “One trend in the market is growth in the biofuels sector driving the demand for fertilizers. The thriving biofuels sector is fueling the consumption of inorganic fertilizers, including phosphate fertilizers such as ammonium phosphate, DAP, and MAP.” According to the report, one driver in the market is growing agriculture industry in emerging economies.
Ammonium phosphate is used for producing most concentrated fertilizers, including DAP and MAP, which are used as highly productive fertilizers because of their alkaline nature, pH regulation capacity, and ability to create acidic soil for crop production.
Further, the report states that one challenge in the market is volatility in fertilizer prices. Fluctuations in raw materials prices and supply-demand imbalance are likely to have a significant impact on the global ammonium phosphate market. A high supply of fertilizers to many countries, including China, India, and Brazil, has led to a strong decline in phosphate fertilizer prices.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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