Di Ammonium Phosphate (DAP) Market to Grow at a CAGR of 4.32% by 2032 | ChemAnalyst

According to ChemAnalyst report, “Global?Di Ammonium Phosphate (DAP) Market ?Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”,?The Di Ammonium Phosphate (DAP) market is likely to experience a significant hike in?the coming years by reaching 55 million tonnes in 2032, at an expected CAGR of 4.32% during the forecast period. The increasing demand of Di Ammonium Phosphate (DAP) from Fertilizers, Food Additives, Metal Finishing, and Fire Retardant end-use industries, is anticipated to hike up the demand for Di Ammonium Phosphate (DAP) market in the coming years.

Di Ammonium Phosphate (DAP) is an inorganic salt with the chemical formula of (NH4)2(HPO4). DAP is produced by a reaction between phosphoric acid and ammonia. Its one of the crucial properties is that it is readily soluble in water and releases ammonium and phosphorus. DAP finds its major application in the fertilizers due to this reason. To increase the soil's pH, Di Ammonium Phosphate is frequently used in agriculture for crops like cotton, rice, vegetables, and peanuts.

The Di Ammonium Phosphate (DAP) market across the globe is driven due to its usage for its application as a fertilizer. DAP fulfils the need of phosphorus in crops, which is essential nutrient in crops. It is essential for young plants and seedlings for cell reproduction. Therefore, DAP is a popular choice of fertilizers which is leading the market. The population is expected to continue to rise, fuelling an increase in the demand for food and other items, which would ultimately drive up the Di Ammonium Phosphate market, especially in developing nations like India and China throughout the forecasted period. Furthermore, its application for manufacturing fire repellent products is anticipated to further fuel the demand of DAP in the coming decade.

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The global Di Ammonium Phosphate (DAP) market is segmented based on end-use, sales channel, and region. Based on end-uses, the Di Ammonium Phosphate (DAP) market is segregated into Fertilizers, Food Additives, Metal Finishing, and Fire Retardant. The Fertilizer Industry is dominating the Di Ammonium Phosphate (DAP) market and held a market share of about 85% in 2021. This sector is anticipated to remain the most significant consumer of DAP in the forecast period owing to the growing demand of crops and food items for the constantly growing population.

Based on demand by region, Asia Pacific dominates the global Di Ammonium Phosphate (DAP) market, consuming about with a demand of approximately 50% of the global Di Ammonium Phosphate (DAP) in 2021. Currently, India is the highest producer of Di Ammonium Phosphate owing to the abundance of Phosphorous mineral ores, which are utilized for manufacturing DAP.

“Global Di Ammonium Phosphate (DAP) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”,?the significant players functional in the Di Ammonium Phosphate (DAP) market include Ma'aden, Coromondal, MOSIAC, IFFCO, EuroChem Group AG, Phoshagro, The Philippine Phosphate Fertilizer Corporation, Jordan phosphate mines, OCP Group, Hubei Yihua Fertilizer Co., Ltd., Zuari Agro Chemicals Limited, and Guiyang Sinochem Kailin Fertilizer Co., Ltd.

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“Di Ammonium Phosphate (DAP) is expected to see an expansion in the forecast period due to its application in fertilizer industry, which is used in cultivation of crops. Di Ammonium Phosphate (DAP) is a water-soluble chemical that readily releases ammonium and phosphorous, which are necessary nutrients for plant growth. The total demand for Di Ammonium Phosphate (DAP) in the global market is finely contributed by demand from the Fire Retardant industry owing to its ability to lower pyrolysis temperature during the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.