Asia Pacific calcium phosphate market is the fastest growing region and is valued at over USD 210 million in 2017.Growing population along with rising health care awareness are enhancing the business demand. In addition, growing food & beverage and agriculture industries in countries such as India and China, are contributing to the industry growth in this region. —
North America would witness growth by approximately 4% CAGR in terms of revenue from 2018 to 2024, owing to the rising R&D investments to develop various nutrition rich products. Growing pharmaceutical sector due to the presence of geriatric population will have a positive influence on the industry demand over the projected period.
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Monocalcium phosphate market is anticipated to witness growth at over 4% in terms of volume up to 2024. This can be attributed to the changing lifestyle, increasing disposable income and rising bakery products consumption. Extensive usage in animal feed to improve bone health will strengthen the product penetration. In addition, factors such as canned foods, supplement diet and robust growth in healthcare & food industry will further support market growth in the future.
Advanced biomedical sector including development in fracture curing will propel the market. Fluctuating raw material prices and supply deficit owing to the increasing product demand are major factors influencing the price trends. In similar lines, presence of various substitute materials along with development in material science may hamper the industry growth.
Fertilizers are expected to witness notable growth during the forecast period. The increasing need for high quality crop yield will influence the usage of the product. Potential application to enhance cell elongation, strengthen plant cell wall, increase hormonal process, diseases resistance, crop quality and root growth will propel business demand.
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Calcium phosphate market from fertilizers is expected to observe a decent growth in the upcoming years. Increasing demand for calcium phosphate in the agriculture business as an essential ingredient for manufacturing fertilizers has propelled the industry growth over the forecast period. Rising demand for fertilizers to improve the yield and crop quality will boost the product market.
Expanding product scope in manufacturing dental powders, phosphoric acid, textiles, luminescent materials, pottery and porcelains will positively impact the business growth. Increasing geriatric population coupled with reasonable treatment of implant surgeries by using calcium phosphate as they are readily available and stable is stimulating the industry demand. Moreover, high protein content, better product quality, suitability and safety for feed applications has strengthen the product penetration.
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Key industry players are Innophos Holdings, Chemische Fabrik Budenheim, Merck Millipore, The Mosaic Company, Potash Corporation, Gadot Biochemical Industries, and OCP Group Chemicals Company. Other prominent industry players are Hindustan Phosphates, KEMAPCO Arab Fertilzers & Chemical Industries, Elixir Prahovo, Euro Chem, Advance Inorganics and Nitta Gelatin. Manufacturers are anticipated to adopt acquisition and merger strategy to gain competitive advantage.
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 525977