LONDON--(BUSINESS WIRE)--Sep 5, 2018-- analysts forecast the global ammonium phosphate market to grow at a CAGR of over 2% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global ammonium phosphate market from 2018-2022. (Graphic: Business Wire)

The growth in the biofuels sector driving the demand for fertilizers is one of the major trends being witnessed in the . The thriving biofuels sector is fueling the consumption of inorganic fertilizers, including phosphate fertilizers such as ammonium phosphate, DAP, and MAP. The increasing focus on the environment and energy security has led the US and European governments to impose certain regulatory norms. Manufacturers focus on producing biofuels to adhere to stringent government regulations regarding greenhouse emissions from conventional petrochemical-based fuels.

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According to Technavio analysts, one of the key factors contributing to the growth of the global ammonium phosphate market is the growing agriculture industry in emerging economies:

Global ammonium phosphate market: Growing agriculture industry in emerging economies

Ammonium phosphate is used for producing a range of concentrated fertilizers, including DAP and MAP, which are deemed as highly productive because of their alkaline nature, pH regulation capacity, and ability to create acidic soil for crop production. The global ammonium phosphate market is expected to register a significant growth by 2022 because of the widespread use of phosphate as a fertilizer in crop production. The agriculture industry in developing economies, including China, India, Mexico, Brazil, Indonesia, and Argentina, is growing at a high rate due to the increasing population and corresponding incrementing need for food products.

According to a senior analyst at Technavio for research on agrochemicals and fertilizers, “The increasing emphasis on foreign direct investment in the agricultural sector will promote the use of advanced technologies by providing knowledge to farmers regarding the efficient use of fertilizers and land resources. The increasing investments by agriculture-based economies such as China, India, and Brazil will substantially increase the demand for ammonium phosphate during the forecast period.”

Global ammonium phosphate market: Segmentation analysis

The global ammonium phosphate market research report provides market segmentation by application (fertilizers, flame retardants, water treatment chemicals, and food and beverage) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The fertilizers segment held the largest market share in 2017, accounting for nearly 67% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2017 with a market share of nearly 60%. This region is expected to dominate the market through 2022, with an increase in its market share.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

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PUB: 09/05/2018 04:25 PM/DISC: 09/05/2018 04:25 PM