Ammonium phosphates are the inorganic salts formed by the chemical reaction taking place between ammonia and phosphoric acid. The phosphoric acid additional reacts with water to form the three major phosphate salts. These salts include mono-ammonium phosphate, di-ammonium phosphate, and ammonium polyphosphate. The mono-ammonium phosphate is normally used in the fire extinguisher used in schools, offices, or homes. The di-ammonium phosphate is used as fertilizers due to its high nitrogen and phosphorous content. It also acts as a fire retardant.
The global ammonium phosphates market is divided on the basis of product and application. The product segment is bifurcated into ammonium polyphosphate, di-ammonium phosphate, and mono-ammonium phosphate. The application segment is further categorized into fertilizers, water treatment chemicals, food and beverages, flame retardant, and others.
The global ammonium phosphate market is bolstering due to the increasing demand from the end user industries such as metal finishing, chemicals, food and beverages, and others as well as in the animal feed industries. Additionally, the increasing investments made by the developing countries such as India is anticipated to boost the market on a global basis. The stringent government rules and regulations, as well as the safety-related awareness among the masses, are anticipated to propel the growth of the emerging as well as developed markets. The global ammonium phosphate market accounted to be USD 35.58 Billion in 2015 is expected to reach USD 43.48 Billion by 2021; that is, about a 3.4% CAGR growth between 2016 and 2021. Recently, the government has planned to cut down the subsidies on the potassic fertilizers and raise it instead of the phosphatic and sulfur fertilizers by the next financial year.
Request for Sample Report @ https://www.zionmarketresearch.com/sample/ammonium-phosphates-market
Currently, Asia-Pacific region is leading the global market due to the increasing demands of ammonium phosphates followed by North America. Some of the prominent players leading the global market include Vale S.A., Prayon SA, Lanxess AG, Yuntianhua Group Company Limited, CF Industries Holdings Inc., Wengfu Group and Hubei Xingfa Chemicals Group Co. Ltd. Additionally, the other well-known competitors include Ma’aden-Saudi Arabian Mining Company, You Xingfa Chemicals Company Limited, Solvay S.A., Jordan Phosphate Mines Company, OCP SA, and Chemische Fabrik Budenheim KG.