Phosphate Market Size, Future Growth Analysis, Industry Demand Status, Key Players, Global Share Analysis, Business Challenges, and Opportunity Forecast till 2027
The global phosphate market size is expected to grow exponentially during the period 2021-2027, considering the rapid adoption of phosphorus to maintain animal production and increase the biological productivity of surface water by boosting eutrophication by nutrient enrichment. Dipotassium phosphate is increasingly popular in the food and beverage industry for a variety of applications, including reducing acid levels in processed foods. The product also acts as a stabilizer to prevent clotting in non-dairy creams, thus contributing to the growing popularity of the phosphate formulation.
Phosphorus is defined as a multivalent, non-metallic, highly reactive chemical element of the nitrogen family that commonly occurs as organic phosphates in living cells or inorganic phosphate rocks. Phosphate rocks are generally processed to produce phosphorus, which is the main nutrient used in fertilizers, aside from potassium and nitrogen.
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The high demand for diketyl phosphate in the beauty and cosmetics industry, coupled with the increasing consumption of tricalcium phosphate to prevent calcium deficiency and subsequently improve the health of teeth and bones, will drive the market trends. phosphate in the years to come. Additionally, phosphate has been used in the formulation of sunscreen products, hair dye creams, and hair conditioners, as well as serving as an anti-caking agent in powdered foods. In 2021, Beiersdorf unveiled Eucerin Actinic Control SPF 100, with distarch phosphate as a key ingredient, designed to protect sun-sensitive skin and meet the needs of patients with actinic keratosis and non-melanoma skin cancer.
On the basis of the product, the potassium phosphate industry share is expected to represent a high growth rate till 2027, driven by the increasing use in the healthcare community to treat hypophosphatemia and other issues. health. The segment can be further stimulated by a large addition of IV (intravenous) fluids to transfer nutrients and drugs throughout the body.
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Regionally, North America is poised to become a lucrative revenue pocket for the phosphate industry by 2027, which is attributable to high R&D spending in the pharmaceutical sector. Phosphate mining activities to make phosphate fertilizers are intensifying in the United States, mainly in Florida and North Carolina. The pharmaceutical industry recorded sales of over US $ 1.23 trillion in 2020, with North America accounting for over 46% of sales, indicating high potential for phosphate consumption in the region.
The major players in the phosphate market are Jordan Phosphate Mines Company, Agrium (Nutrien), Innophos Holdings, EuroChem, Potash Corporation, PhosAgro, OCP Group, Saudi Arabian Mining Company (Ma’aden), Israel Chemicals Ltd. and The Mosaic Company, among others. These companies are focused on expanding their geographic footprint and product portfolio in the global market through various initiatives such as mergers and acquisitions, innovative product launches and business expansions.
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