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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Monopotassium Phosphate Market Outlook
The global monopotassium phosphate market witnessed a healthy growth in the historical period of 2018-2023. The global market is expected to grow at a CAGR of 3.5% in the forecast period of 2024-2032.
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Europe is a Significant Market for the Monopotassium Phosphate Industry, Bolstered by the Growing Demand from the Personal Care Industry
Region-wise, Europe is expected to be a significant market for monopotassium phosphate. This can be attributed to the growing demand from the personal care and hydroponic agricultural industries. Europe is also a significant hub for the pharmaceutical industry, which is expected to enhance the market growth of monopotassium phosphate. North America is also expected to be a significant market for the product due to its large feed additive demand and increasing pharmaceutical industry. The Asia Pacific region is anticipated to witness a faster growth rate in the forecast period as a result of the growing industry for both agricultural and pharmaceutical, which will boost the demand for raw materials like monopotassium phosphate in the region. Further, the Latin America region is expected to grow fairly well as the major countries within the region are heavily investing in personal care and agricultural industry. This is estimated to enhance the production activity and, consequently, the market for monopotassium phosphate in the forecast period.
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Monopotassium Phosphate: Market Segmentation
Monopotassium phosphate refers to the soluble salt of dihydrogen phosphate as well as potassium ion. The chemical is a source of phosphorus and potassium for animals, including humans and plants.
On the basis of form, the market is divided into:
- Powder
- Crystal
- Liquid
Based on application, the industry can be segmented into:
- Food and Beverage
- Pharmaceuticals
- Cosmetic and Personal Care
- Animal Feed
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Usage of the Product as Buffering Agents to Aid the Global Market Growth of Monopotassium Phosphate
The market for monopotassium phosphate is being driven by the usage of the product as buffering agents in various chemical reactions in the industry. The market is further being aided by the rising demand for feed as the product is a good source of ammonium phosphate in feed. The product is usually mixed with urea to enhance the effectiveness of the feed as it maintains soil pH and decreases the loss of feed used in the soil. Moreover, the product is used in various industrial applications such as cosmetics and personal care, nutraceutical, and other industrial applications.
Key Industry Players in the Global Monopotassium Phosphate Market
The report gives a detailed analysis of the following key players in the global monopotassium phosphate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Master Plant-Prod Inc.
- Prayon S.A.
- Arihant Chemical Industries
- Ava Chemicals Private Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Form |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global monopotassium phosphate market is projected to grow at a CAGR of 3.5% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, growing demand for feed, rising demand from the personal care and hydroponic agricultural industries, and growing pharmaceutical industry, are expected to aid the market growth.
The key trend guiding the growth of the market includes the rising usage of the product as buffering agents in various chemical reactions.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading forms of monopotassium phosphate in the market are powder, crystal, and liquid.
The major application segments in the market are food and beverage, pharmaceuticals, cosmetic and personal care, and animal feed, among others.
The major players in the industry are Master Plant-Prod Inc., Prayon S.A., Arihant Chemical Industries, and Ava Chemicals Private Limited, among others.
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