The “Magnesium Phosphate Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Magnesium Phosphate Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global magnesium phosphate market size was US$ 1.4 billion in 2021. The global magnesium phosphate market size is forecast to reach US$ 2.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2022 to 2030.
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Magnesium phosphate, which comes in several forms and hydrates, is a salt containing magnesium and phosphate. An essential element called magnesium phosphate is found naturally in plants, bones, and seeds like avocado seeds. The monomagnesium, dimagnesium, and trimagnesium salts of magnesium phosphate are all present in crystalline form and are odorless. Vegetables, whole grains, legumes, seeds, and nuts are dietary sources of magnesium. It is frequently used in medicine to assist muscular relaxation and avoid vitamin E insufficiency. As an emulsifier and anticaking agent, it is also utilized in dietary supplements. Additionally, it serves as a food stabilizer in infant formula within set limitations. Additionally, it aids in controlling the heart’s and brain’s neuromuscular activity.
Factors Influencing Market Growth
The rising applications of magnesium phosphate in the medication sector that help muscle relaxation, control muscle cramping and prevent vitamin E deficiency drive the global market.
The high intake of magnesium phosphate, particularly from food, can drive low blood pressure, breathing issues, irregular heartbeats, and other health issues, which may slow down the overall market growth.
The growing demand for magnesium phosphate fertilizers, especially from developing countries boosts global market growth.
The rising population, increasing arable land, and the growing use of magnesium phosphate as a soil conditioner are forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Demand for fertilizers, animal feed, and nutritional supplements directly correlates with sales of magnesium phosphate. However, due to import-export limitations, blocked borders, and supply chain interruptions, the demand for fertilizers containing magnesium phosphate was significantly impacted. Due to manpower scarcity and a delay in the supply of raw materials, COVID-19 has had a detrimental influence on several sectors, which has decreased fertilizer production. As a result, the influence of COVID-19 has caused a slow drop in the demand for magnesium phosphate.
Regional Insights
The Asia Pacific region held dominant in the market in 2021 and is forecast to maintain its position during the forecast period. As a result of the increased fertilizer consumption due to the rising population and existence of large arable land. In addition to fertilizers, the rising demand for animal feed supplements boosts the market growth in the region.
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Leading Competitor
The leading prominent companies profiled in the global magnesium phosphate market are:
Innophos Holdings, Inc.
Refractory Minerals Co., Inc.
Celtic Chemicals Ltd
KRONOX Lab Sciences Ltd
Anmol Chemicals
Nikunj Chemicals
Hap Seng
American Elements
Jost Chemical Co.
Triveni Chemicals
Other Prominent Players
Scope of the Report
The global magnesium phosphate market segmentation focuses on Form, Application, and Region.
Segmentation based on Form
Monomagnesium Phosphate
Dimagnesium Phosphate
Trimagnesium Phosphate
Segmentation based on Application
Fertilizer
Animal Feed
Detergent
Food
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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