In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
October 2019: PhosAgro Group of Companies, which is one of the leading organizations in the production of vertically integrated phosphate-based fertilizers, announced to join the European Sustainable Phosphorus Platform (ESPP).
Monocalcium phosphate is an inorganic compound which is obtained by the reaction of phosphoric acid and a calcium compound. It is a quick-reacting leavening acid which releases a major percentage of its carbon dioxide within the first few minutes of mixing while baking. After two-third of the carbon dioxide is released while mixing, monocalcium phosphate is transformed into dicalcium phosphate. Dicalcium phosphate is basically a water insoluble, white odorless powder which provide benefits as a nutritional supplement for calcium in various end-use industries. It is usually found in dehydrate form but may be converted into anhydrous form by using heat.
The monocalcium phosphate and dicalcium phosphate market is anticipated to record a notable CAGR over the forecast period, i.e., 2021-2028. This growth can be attributed to the multiple benefits offered by these compounds in various end use industries such as food & beverage, animal feed, agriculture, pharmaceutical, and other industries. Monocalcium phosphate acts as a phosphate supplement and plays a vital role in the animal feed industry. It provides animals with calcium and phosphorus, which helps to improve the metabolism, and functioning of nervous, immune and reproductive systems of an animal. On the other hand, dicalcium phosphate is used as a nutritional supplement in the pharmaceutical industry. The growing concerns for diseases, such as osteoporosis and others, that are caused due to lack of calcium and phosphate in living organisms are raising the need amongst the end users to consume these bio-chemicals from various sources that contain them. Such a factor is anticipated to promote the growth of the global monocalcium phosphate and dicalcium phosphate market. According to National Institutes of Health (NIH), osteoporosis, a disease caused due to calcium deficiency in our body, is a serious health problem for more than 10 million U.S. adults, about 80% of whom are women.
The market is segmented by application into fertilizers, food production, beverages, animal feed, pharmaceuticals and others, out of which, the fertilizers segment is projected to grow at a significant CAGR over the forecast period as phosphate fertilizers improves the quality of fruits, vegetables, and grain crops, and is important in seed formation. They regulate the pH level of the soil which further regulates the availability of nutrients to the plants and also influences their chemical reactions. Additionally, the application of monocalcium phosphate and dicalcium phosphate in food and animal feed industry in emerging economies are projected to propel the growth of the fertilizers segment during the forecast period.
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Monocalcium phosphate and dicalcium phosphate are used for different end use purposes, ranging from manufacturing of fertilizers, animal feed and pharmaceuticals, and in the production of food and beverages. During the state of lockdown that had been enforced in many countries to curb the spread of the COVID-19 pandemic, it has forced many companies in the monocalcium phosphate and dicalcium phosphate market to either pause their business operations or run under strict compliances, in order to comply with the government’s order to follow social distancing. Despite such circumstances, which has resulted in poor revenues of the manufacturers, farming processes were in continuation, especially in the rural areas, and hence the demand for monocalcium phosphate and dicalcium phosphate amongst the farmers for products such as fertilizers and animal feed, were in full swing. On the other hand, in the healthcare industry, owing to the pandemic, the demand for medicines and other nutritional supplements were at a significant high. Those end products which were categorized as essential goods and had monocalcium phosphate and dicalcium phosphate as its raw materials, required the focus of its manufacturers to deliver these materials on an urgent priority. It is anticipated that in the coming years, until the pandemic is over, the manufacturers of monocalcium phosphate and dicalcium phosphate have to work with severe restrictions, despite of the increase in demand from the end users for these products.
Around 99 percent of total body calcium is found in teeth and bones and the remaining percentage is present in blood, extracellular fluid, muscle, and other tissues.
The human body requires calcium and phosphorous for its proper functioning as these chemicals play many roles in the body such as synthesis of DNA and building and maintenance of bones. Deficiency of calcium and other essential nutrients in the human body cause various diseases such as osteoporosis, rickets, hypoparathyroidism and others. The concern for such diseases amongst individuals is therefore aiding the consumption of calcium supplements that contain dicalcium phosphate. Therefore, many food manufacturers use dicalcium phosphate as a dietary supplement to meet the consumer’s dietary needs.
Phosphorus makes up around 1 to 1.4% of fat-free mass in a human body. Of this amount, around 85% is in bones and teeth, and the remainder is distributed throughout the blood and soft tissues.
Specified intake of monocalcium phosphate is proved to be beneficial for the health of animals. A 1% solution of monocalcium phosphate equals to a minimum pH value of 3.5, which is considered to be effective on the health of a living organism and thus is recommended as a food supplement for livestock and poultry diet. Moreover, on the back of the growing demand for meat and meat products around the globe, there is an increasing focus among the farmers for rearing poultry and other meat sources, and in turn the need for animal feed and fodder. According to the United States Department of Agriculture, the global production of chicken meat is estimated to record 102.9 million tons in 2021. On the contrary, monocalcium phosphate benefits the animals as phosphorous and calcium are necessary for the formation of bones and strong skeletal development. Such benefits of monocalcium phosphate is anticipated to drive the growth of the market over the coming years.
The excessive consumption of monocalcium phosphate can lead to premature aging, risk of heart disease, and improper functioning of kidneys, while the excessive intake of dicalcium phosphate can lead to symptoms including nausea, vomiting, decreased appetite, constipation, dry mouth, and others. Acute phosphate toxicity can provoke hypocalcemia and related symptoms including tetany, hypotension and tachycardia, whereas, moderate phosphate toxicity, which sometimes takes longer to develop, can lead to the deposition of calcium phosphate crystals in various tissues, often leading to fatal cardiovascular calcification. Such factors are anticipated to limit the growth of the global monocalcium phosphate and dicalcium phosphate market.
Our in-depth analysis of the monocalcium phosphate and dicalcium phosphate market includes the following segments:
On the basis of regional analysis, the monocalcium phosphate and dicalcium phosphate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in Asia-Pacific is expected to record significant CAGR over the forecast period, on the back of rapid development in the agricultural sector, advancements in food and diary industries, and increased dependency on calcium-based supplements. In India, the growth in the agricultural sector over the past years has been strong and the crop production has been able to keep pace with the demand for quality products from a growing population. Furthermore, macroeconomic trend such as increased disposable income, and the growing industrialization in the region, are anticipated to drive the growth of monocalcium phosphate and dicalcium phosphate market over the coming years.
The monocalcium phosphate and dicalcium phosphate market is further classified on the basis of region as follows: