The report titled “Global Diammonium Phosphate Market Outlook: Industry Insights & Opportunity Assessment 2019-2027” delivers detailed overview of the global diammonium phosphate market in terms of market segmentation by applications, by end use industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Diammonium phosphate (DAP) is famous for its moderately high supplement substance and excellent physical properties and is mainly utilized as composts that can be used for vegetables and in plantations. The global diammonium phosphate market is anticipated to witness significant growth on the back of its applications in numerous additives and industries such as chemical manufacturing industries, sugar purification, wine and mead-making.
The diammonium phosphate market is anticipated to grow at a significant CAGR during the forecast period i.e. 2019-2027. The market is segmented by application, end use industry and by region, out of which, the end use industry is further bifurcated into agriculture, food industry, chemical industries and others. Among these segments, the agriculture segment is anticipated to witness prominent growth on account of growing demand for fertilizers in the agriculture sector.
The diammonium phosphate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold leading shares in the overall market, followed by Europe and Asia-Pacific. The growth of the market in Asia Pacific region is driven by growing population and rising demand for food in developing countries such as China and India. The market in MEA is estimated to witness notable growth on the back of increasing number of initiatives in order to hone the agriculture activities, further raising the demand for diammonium phosphate in the region.
Increasing Demand of Diammonium Phosphate in the Agriculture Industry to Boost the Market Growth
With an increase in investment for food and agriculture activities in the developing countries, manufacturers are giving more preference to artificial agents as compared to organic in food and agriculture industry in order to attain cost efficiency. Additionally, increase in income and changing environmental factors impacting soil conditions are some of the notable factors that are anticipated to boost the growth of the diammonium phosphate market.
Industry Players are Progressing towards Minimizing the Barriers faced by the Global Diammonium Phosphate Market
The limited lifespan and fluctuating prices associated with diammonium phosphate affecting the demand for the product are some of the restraining factors that are anticipated to affect the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global diammonium phosphate market which includes company profiling of Shangdong Lubei Chemical Corporation Ltd., Wengfu Group, Jiangxi Guixi Fertilizer Co., Ltd., Mississippi Phosphates Corporation, OCP Group, Pacific Chemicals Co. Ltd., Sichuan Blue Sword Chemical (Group) Co. Ltd., Vigyan Chemicals Private Ltd., PhosAgro and Bunge Limited.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diammonium phosphate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.