Magnesium Phosphate Market By Form (Monomagnesium Phosphate, Dimagnesium Phosphate , Trimagnesium Phosphate), By Application (Fertilizer, Animal Feed, Detergent, Food, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
The global magnesium phosphate market was valued at $1,403.5 million in 2021, and is projected to reach $2,028.6 million by 2030, growing at a CAGR of 4.3% from 2022 to 2030.
Magnesium phosphate is the magnesium acid salt of phosphoric acid which is used as a dietary supplement to treat magnesium deficiency. Magnesium phosphate is an ionic compound as it contains magnesium and phosphate ions. Magnesium phosphate is also used in cement owing to its high strength and fast setting time. Although magnesium phosphate cements are ductile and brittle, addition of fibers can increase their strength.
Growing popularity of magnesium phosphate in the food industry as well as in animal feed additives is estimated to drive the market demand. For instance, magnesium phosphate increases the activity of antioxidants, is used as an emulsifier, and prevents clumping in food supplement powders. Magnesium phosphate in food supplements helps in maintaining energy, combating fatigue, and building bone and teeth. Also, it improves the health of muscle, nerve, and cell membranes. It promotes normal functioning of heart muscles.
Magnesium phosphate is used in the fertilizer sector since it helps in the growth of plants, roots, and aids plants in withstanding environmental stress. For instance, magnesium phosphate promotes the development of healthy and web-like root system to ensure healthy growth of plants. It also promotes the formation of seed and flowers. In addition, magnesium phosphate promotes the resilience of plants against various diseases.
Phosphate fertilizers are popular owing to high nutritional content and promote the growth of fruits, vegetables, and crops including wheat, barley, and others, which is anticipated to drive the magnesium phosphate market demand. Phosphorous compounds are widely used by plants to promote vegetative growth and fruit production. Magnesium phosphate boosts the agricultural productivity by improving the soil texture and promotes robust growth of crops.
The magnesium phosphate market is segmented on the basis of form and application. By form, it is classified as monomagnesium phosphate, dimagnesium phosphate, and trimagnesium phosphate. By application, it is classified as fertilizer, animal feed, detergent, food, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Jost Chemical Co, Innophos Holdings, Inc., Triveni Chemicals, Refractory Minerals, Celtic Chemicals Ltd, KRONOX Lab Sciences Ltd., Anmol Chemicals, Nikunj Chemicals, Hap Seng, and American Elements.
Key Market Segments
By Form
Monomagnesium Phosphate
Dimagnesium Phosphate
Trimagnesium Phosphate
By Application
Fertilizer
Animal Feed
Detergent
Food
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
South Africa
Rest of LAMEA
Key Market Players
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
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