Industrial Phosphate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1957
Industrial Phosphate Market size may grow exponentially over the projected period. Strong application scope in food, fertilizers, personal hygiene, detergents and construction sectors will drive industry growth.
Global detergent consumption may witness gains at over 5% up to 2024. Different consumer habits in various regions and rising disposable income and increasing population has led to rise in demand from hospitality, clothing and laundry services driving detergent industry growth. Industrial phosphate is extensively used for cleaning in various end-use industries like paint, chemical, automobile, paper and textile which should have positive influence on product market size.
Global fertilizer consumption was estimated to be over 185 million tons in 2016 and may surpass 225 million tons by 2024. Industrial phosphate fertilizers may witness steady growth over the foreseeable timeframe due to high potash content which are favorable for crop yield along with expanding phosphoric acid production capacities in China, Morocco and Saudi Arabia will drive the industry growth.
Increasing meat and animal-based product is likely to drive industrial phosphate in feed market. Meat production has grown over 20% owing to the increased consumption of meat among consumers. They are alkaline in nature and USDA has limited the amount to 8 ounces per pound when added to the meat system. Meat vendors are using the product for better animal health assurance to avoid disease outbreak in livestock. India and China, being the largest producer and consumer of industrial phosphate fertilizers, which may drive the industry growth.
Industrial phosphate find application in various food products including bakery, seafood, dairy and poultry products. Rising consumer health consciousness along with changing dietary patterns has led to increase in food grade phosphorus consumption, thereby driving industry growth. Increasing application scope in seafood products owing to retaining moisture & flavor, lipid oxidation prevention and extending shelf life may propel industrial phosphate demand. Favorable government regulations by FDA and USDA regarding product usage in food industry should fuel product demand.
Phosphorite and sulfuric acid are essential raw material for production. Fluctuating raw material may challenge industry profitability thereby widening demand supply gap thereby affecting industrial phosphate price trend. However, many manufacturing companies in the Europe and North America may increase production capacity by acquiring and joint ventures with companies to increase their product portfolio and enhance business.
Use of product including sodium triphosphate (STPP) in detergents have been banned in some countries including EU, the U.S., Australia, Italy and Canada due to stringent government regulations and growing environmental concerns may hamper industry growth. However, application potential in horticulture, and water treatments should act as a major contributing factor for global industrial phosphate market size.
Asia Pacific, led by India, Japan, South Korea, and China industrial phosphate market size may witness strong gains owing to rise in per-capita disposable income resulting in ready-to-use baking mixes, seafood products, packaged meat and convenience food and beverages products demand should stimulate regional industry growth. Increase in detergent consumption on account of hospitality, laundry services and textile industry may fuel product demand in the region.
Europe, driven by UK, France, Italy and Germany industrial phosphate market size may register significant gains owing to lithium ion-phosphate (LFP) batteries production which are used in electrical devices and vehicle industries is likely to stimulate regional industry growth. Potassium and calcium phosphates has wide usage in European food and beverage market driving industry growth.
North America, led by Canada and the U.S. industrial phosphate market size may show a strong gains due to availability of large natural rock deposits mainly North Carolina, Florida and Idaho in used to manufacture industrial products and fertilizers. North America accounts for over 19% of the total consumption
Global industrial phosphate market share is consolidated with prominent players such as The Mosiac Company, Israel Chemicals, Aditya Birla Chemicals, PhosAgro, EuroChem, OCP Group, Timab Industries, Fosfitalia and Potash Corp.
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