Diammonium Phosphate Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Diammonium Phosphate Market

The global diammonium phosphate market size was worth around USD 60.89 Billion in 2022 and is predicted to grow to around USD 75.61 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 2.74% between 2023 and 2030.

World’s most widely used phosphorous fertilizer is the diammonium phosphate Diammonium hydrogen phosphate is the IUPAC name of the diammonium phosphate. The molecular weight of diammonium phosphate is 132.06 and its chemical formula is (NH4)2HPO4. The diammonium phosphate is a compost that is obtained in granulated form and is of size 5-5mm. The diammonium phosphate should be made use within 24 months from its date of manufacturing.

Global Diammonium Phosphate Market: Growth Factors

The main driving factor for the growth of the diammonium phosphate market is the increasing demand from the agricultural sector. The manufacturers are more likely to prefer artificial agents than organic agents in the agriculture and food industry due to the cost factor. Diammonium phosphate is widely used in a wide range of applications such as for food coloring, preservative, and as a flavoring agent. In the developing regions, the increase in the investments that are made in the agriculture and food sector and the growth in the industrial development are some of the factors that are contributing to the market growth. There are economies that are largely dependent on the agricultural sector for the revenue generation, this fact increases the demand of the diammonium phosphate and contributes to the market growth.

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Global Diammonium Phosphate Market: Regional Analysis

Geographical segmentation of the global diammonium phosphate market is diversified into North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, and the Middle East and Africa. In the Asia Pacific region, the factors that contribute to the market growth are the robust industrial development, rising investments for the food and agriculture in the developing regions such as India and China. Due to the increase in the demand of diammonium phosphate from the increasing population and the growing disposable income of the consumers are some of the reasons that are contributing to the market growth in the Asia-Pacific region. The other factor that contributes to the market growth in the Asia-Pacific region is the high dependence of the diammonium phosphate in the agricultural sector. The region that dominates the diammonium phosphate market is the North America and it holds the highest market share in the global market. North America is followed by Europe.

Global Diammonium Phosphate Market: Segmentation

The global diammonium phosphate is segmented into its applications, end-use industry, grade, and agents. On the basis of applications, the global market is segregated into the fireproofing agent, a nutrient for yeast and in numerous other processes of fermentation, water soluble fertilizers, fire extinguishing powders, and other industrial processes. Depending on the end-use industry, the market is categorized into the food industry, agriculture, medical, and others. On the basis of grade, the market is divided into technical grade and DAP crystal. Depending on the agents, the market is fragmented into coloring, flavoring, antioxidants, preservative, and anti-infective.

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