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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Potassium Dihydrogen Phosphate Market Outlook
The global potassium dihydrogen phosphate market is being aided by the fertilizer industry growth. The fertilizer market is expected to grow at a CAGR of 3% in the forecast period of 2024-2032.
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Growing Utilisation of Potassium Dihydrogen Phosphate in Various End-Use Sectors to Bolster the Market Growth
One of the major end-uses of potassium dihydrogen include the agricultural sector, wherein it is used as an agrochemical fertilizer. It can also be used with some other conventionally used fertilizers as it serves as a source of vital elements like potassium and phosphorus. Its increasing demand from the agricultural sector can be attributed to its relatively higher purity and its solubility in water, which makes it ideal for use across different growth cycles of a crop. Besides the agricultural sector, it finds various applications in the food and beverage industry. It is most commonly used as a buffering and chelating agent and stabiliser, among others, as it helps stabilise and regulate the acidity and moisture in food products. Further, it also finds applications in opto-electronics due to its optical properties.
Region-wise, the Asia Pacific is expected to witness a significant growth rate over the forecast period due to the introduction of favourable government initiatives to strengthen the agricultural sector in the region. Meanwhile, the growing demand for processed food products is also aiding the regional industry growth.
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Potassium Dihydrogen Phosphate: Market Segmentation
Potassium dihydrogen phosphate (KDP), also known as monopotassium phosphate (MKP), is a soluble salt of potassium and the dihydrogen phosphate ion. It is represented by the formula KH2PO4. It is commonly used in fertilizer mixtures as it is a good source of phosphorus and potassium. It is also used as a food additive and buffering agent together with dipotassium phosphate.
Based on application, the market is divided into:
- Fungicide
- Buffering Agent
- Food Additive
- Photo-Optic
- Nutrition
- Others
Based on end use, the industry can be segmented into:
- Agriculture
- Food and Beverages
- Chemicals
- Pharmaceuticals
- Opto-Electronics
- 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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Thriving Food and Beverages Sector Coupled with the Growing Demand for Agrochemicals to Boost the Potassium Dihydrogen Phosphate Industry Growth
The growing global population is resulting in enhanced demand for food, thus, creating a need to strengthen the agricultural sector and improve crop yield. The adoption of modern farming methods and growing government initiatives to support the farmers are driving the demand for agrochemical products such as potassium dihydrogen phosphate, which is aiding the growth of the industry. The thriving food and beverage industry is expected to enhance the demand for potassium dihydrogen phosphate in the forecast period. The growing demand for processed and packaged food products among consumers is aiding the growth of the industry. This is further supported by the escalating disposable incomes, growing retail sector, and improving standards of living, particularly in the emerging nations. Owing to technological advancements, the opto-electronics sector is expected to witness new innovations and growth. This is expected to have a positive effect on the expansion of the global market for potassium dihydrogen phosphate.
Key Industry Players in the Global Potassium Dihydrogen Phosphate Market
The report gives a detailed analysis of the following key players in the global potassium dihydrogen phosphate market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Haifa Group
- Sichuan Shucan Chemical Co., Ltd.
- Annexe Chem Pvt. Ltd.
- M.M.Arochem Pvt Ltd
- Changsha Green Mountain Chemical Co., Ltd.
- 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 Application |
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| Breakup by End Use |
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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 potassium dihydrogen phosphate market is being driven by the fertilizer industry, which is projected to grow at a CAGR of 3% between 2024 and 2032.
The major drivers of the industry, such as rising disposable incomes, increasing population, Rising applications of the product in the food and beverages industry, implementation of favourable government initiatives to promote the agricultural sector growth, and rising demand for processed food products, are expected to aid the market growth.
The key market trends guiding the growth of the market include the growing adoption of modern farming methods, favourable government initiatives, and rapid technological advancements.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading application segments in the market are fungicide, buffering agent, food additive, photo-optic, and nutrition, among others.
The significant end-use sectors in the industry are agriculture, food and beverages, chemicals, pharmaceuticals, and opto-electronics, among others.
The major players in the industry are Haifa Group, Sichuan Shucan Chemical Co., Ltd., Annexe Chem Pvt. Ltd., M.M.Arochem Pvt Ltd, and Changsha Green Mountain Chemical Co., Ltd., among others.
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