Magnesium Phosphate Market Trends, Segmentation, SWOT Analysis, Opportunities and Forecast to 2030

Magnesium Phosphate Market

The Magnesium Phosphate Market generated USD 1.4 Billion in 2021 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 4.1% from 2022 to 2030.

OREGON, PORTLAND, USA, August 3, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, the global market magnesium phosphate market generated $1.4 billion in 2021 and is expected to reach $2.0 billion by 2030, growing at a CAGR of 4.1% from 2022 to 2030. The report provides a detailed analysis of the changing momentum of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Key players of the global magnesium phosphate market analyzed in the research include Jost Chemical Co, Innophos Holdings, Inc., Triveni Chemicals, Refractory Minerals, Celtic Chemicals Ltd, KRONOX Lab Sciences Ltd., Anmol Chemicals, Nikunj Chemicals, Hap Seng and American Elements.

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Magnesium phosphate has various applications in detergents, animal feed, food, fertilizers, water treatment, and construction, which is driving the growth of the magnesium phosphate market. For example, the use of phosphate feed additives in animal feed is expected to show excellent growth, due to increased meat consumption, increased demand for effective antibiotic substitutes, use in disease control and the increased need to improve the performance of livestock and poultry. . These factors provide lucrative opportunities for market growth.

COVID-19 scenario:
• Outbreak of COVID-19 pandemic has negatively impacted various industries and led to decline in fertilizer production due to shortage of labor and delay in availability of raw materials . For this reason, there is a slow decline in demand for magnesium phosphate during the pandemic.
• According to the World Bank Group, the main international financial institution, fertilizer prices, including the price of magnesium phosphate fertilizers, fell by around 8.5% in June 2020. This is mainly due to the weak cost of raw materials, closed borders, low seasonal demand, lockdowns, and quarantines.
• Nevertheless, the market is steadily recovering from the pandemic.

The report offers detailed form, application, and region segmentation of the global Magnesium Phosphate market.

Based on form, the dimagnesium phosphate segment held the highest market share in 2021, holding almost half of the total market share, and is expected to maintain its leading status during the forecast period. . Moreover, the same segment is estimated to register the highest CAGR of 4.5% from 2022 to 2030.

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Based on application, the fertilizer segment held the largest market share in 2021, holding more than three-fifths of the total market share, and is expected to maintain its leading status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 4.6% from 2022 to 2030.

Based on region, Asia-Pacific contributes the highest share in terms of revenue in 2021, holding more than two-fifths of the total market share, and is expected to maintain its dominant share by 2030. Moreover, the same region is expected to manifest the fastest CAGR of 4.8% during the forecast period. Other regions analyzed in the report are North America, Europe and LAMEA.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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