Transparency Market Research in its new report titled, “Potassium Phosphate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the potassium phosphate market. The TMR report anticipates that the increasing demand for nutritious food across the globe will drive the potassium phosphate market during the forecast period i.e, 2018-2026. Furthermore, rapid growth in the agriculture sector in various countries across the globe is anticipated to fuel the growth of the market even further during the forecast period, says the report.
Potassium phosphorus is employed in diversified applications in various industries such as health care and agriculture. This is the prominent factor boosting the potassium phosphorus market. Phosphate is an essential nutrient for plants and soul; therefore, it is used in fertilizers. Potassium phosphate is also used as a food additive. A large amount of potassium phosphate is used in soft drinks, processed foods, and fast foods. Today’s youth are getting more attracted to processed food. This is projected to propel the global potassium phosphate market. Furthermore, potassium phosphate is sometimes used as medicine. It can have a diuretic effect and act as a laxative. This in turn, is expected to fuel the global market. Potassium phosphate is also being used in cosmetic products as a buffering agent or pH stabilizer. It is used at up to 8.3% in mascara products. Hence, increase in demand for cosmetic products and extensive use of these ingredients in these products are also likely to propel the potassium phosphate market during the forecast period.
The report has segregated the potassium phosphate market based on type, end-use industry, and geography. In terms of type, the global potassium phosphate market is divided into mono-potassium phosphate (KH2PO4), di-potassium phosphate (K2HPO4), and tripotassium phosphate (K3PO4). Based on end-use industry, the potassium phosphate market is segmented into agriculture, healthcare, cosmetics, food & beverages, and others. From a regional perspective, the global potassium phosphate market is divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the global potassium phosphate market in the near future. This is primarily due to the increase in demand for processed food and beverages in developing countries such as India. Moreover, the emerging middle classes of countries such as India, China, and other developing countries will demand more food, causing fertilizer demand to grow even more.
Major players operating in the global potassium phosphate market includes Potash Corporation of Saskatchewan Inc., Muby Chemicals, Nutrien Ltd., Shifang Zhixin Chemical Co., Ltd., Avantor Performance Materials, Shandong Dingxin Biotechnology, and Sichuan Blue Sword Chemical (Group) Co., Ltd.
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