According to Stratistics MRC, the “Global Phosphorus & Derivatives market” is accounted for $68.19 billion in 2018 and is expected to reach $110.41 billion by 2027 growing at a CAGR of 5.5% during the forecast period. Some of the key factors propelling the market growth are increasing demand for water treatment, increasing population, development, and introduction of Halogen-Free Flame Retardants (HFFR), decreasing arable land, increasing the use of biofuels, and increasing demand for water treatment and an increase in demand for vital nutrients for the body functioning. However, stringent regulations on the usage of phosphates in detergents and deteriorating quality of phosphate rock are the restrainings the factor for the growth of the market.
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Phosphorus & derivatives are fundamental nutrients that are utilized as additives to build up the quality & strength of their end application, for example, fertilizers, detergents, and the food industry. They are generally organic compounds. It is a chemical element with symbol P and atomic number 15. It has a concentration in the Earth's crust of about one gram per kilogram. It is essential for life. They are a component of DNA, RNA, ATP, and phospholipids. The derivatives of phosphorus are mostly used as a fertilizer in the production of crops. These are also used in detergent manufacturing, water cleaning agents, and edible products. It is a non-metal which is combustible. In the metallurgical industry, it is used for forming the metallic alloys such as phosphorous brass. It is also used in the production of insecticides and also as an additive in the industrial oils. Fertilizers and feed markets are the major end-users.
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By type, ammonium phosphates segment is expected to grow at a significant market share during the forecast period as it is massively using in the fertilizer industries. Due to their increasing use for fertilizer manufacturing as an essential factor in crop and plant development, it is a leader on the market. It is the salt of ammonium and phosphate. It is found in crystalline powder form and is soluble in water.
Ammonium phosphate, with its salt-like properties and compounds including ammonia, has used in many different areas. It is often used in baking as a leavening agent. It’s used to feed plants as well. It has been instituted as an effective fertilizer, with good water solubility and rapid dissolving abilities. Its two molecular bases, ammonium and phosphate, are crucial minerals for the healthy and sustained growth of plants. It does this by helping the plant convert the many nutrients within the plant into “building blocks” of growth. It is as an ingredient in dry chemical fire extinguishers. This application uses the monobasic ammonium phosphate, and when sprayed on the fire, it coats the fuel source, effectively smothering the flames. Along this same line, it is also employed as a component in flame retardant-necessary applications.
By end-user, a detergent segment is expected to grow at the significant market share during the forecast period as it is as phosphorus & derivatives are used in the manufacturing of automatic dishwasher detergent, laundry detergent, etc. It is widely used in liquid detergents as they are much more environment-friendly than powdered detergents. The consumers also prefer liquid detergent over powdered ones for laundry which is not heavily stained. Most dishwasher detergent contains phosphates, as they have several properties that aid in effective cleaning. Phosphates bind calcium and magnesium ions to prevent hard-water type limescale deposits.
On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to significant demand from developing countries such as China, which are the world’s largest producer and consumer, wide application of the phosphorous and its derivatives in the fertilizers. The large application of phosphorus and its derivatives in fertilizers is the main determinant impacting future growth in the Asia Pacific region. Enormous consumption potential, growing production capacities, competitive manufacturing costs and high economic growth rates are the favorable factors for the future growth of the market in the region. Asia has been the largest consumer of phosphorus and its derivatives with China & India the major countries that account for high consumption.
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Some of the key players in Phosphorus & Derivatives Market include Agrium Inc, Akron OAO, CF Industries Holdings Inc, Chemische Fabrik Budenheim Kg, Eurochem, Innophos Holdings Inc, Israel Chemical Ltd (ICL), Italmatch Chemicals S.P.A, Kazphosphate LLC, Lanxess AG, Mosaic Co, OCP S.A, OJSC Phosagro AG, Potash and Yara International ASA.
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