Phosphate Salts Market - By Grade (Food, Technical, Pharma), By Products (Potassium Phosphates, Sodium Polyphosphates, Sodium Phosphates, Calcium Phosphates), By End-use (Dairy, Bakery, Beverages, Water treatment, Textiles, Paints & Coatings, Detergents)

Phosphate Salts Market - By Grade (Food, Technical, Pharma), By Products (Potassium Phosphates, Sodium Polyphosphates, Sodium Phosphates, Calcium Phosphates), By End-use (Dairy, Bakery, Beverages, Water treatment, Textiles, Paints & Coatings, Detergents) - Forecast to 2032

Global Phosphate Salts Market is slated to expand exponentially through 2032 owing to the surging consumption of seafood to promote a healthier lifestyle. Globally, fish offers more than 1.5 billion people with up to 20% of their average per capita intake of animal protein.

Intrinsic product applications in wastewater treatment would further push the market expansion. The demand for water treatment is mostly facilitated by the expanding population, urbanization, manufacturing sector, as well as regulatory needs. The wastewater treatment services industry is projected to rise as a result of efforts taken up by manufacturing companies and government agencies throughout the world to reduce waste generation and increase public knowledge of new water treatment technology.

Moreover, leading industry players are seeking business portfolio expansion through partnerships and affiliations, which would potentially strengthen the global phosphate salts industry competitive landscape over the next decade.

The phosphate salts market has been divided in terms of grade, product, end-use, and region.

Based on grade, the pharmaceutical grade segment is speculated to grow at 5.5% CAGR from 2023 to 2032. Pharmaceutical Grade phosphate salts are commonly utilized for treating a range of medical disorders, including gastrointestinal (GI) issues, increased blood calcium levels (hypercalcemia), kidney illness, constipation during breastfeeding and pregnancy, indigestion, and more. The need for treatments for numerous diseases is increasing along with the population, which is expected to drive segmental growth.

With respect to product, the monoaluminium phosphates (MALP) segment is estimated to expand substantially over the review timeline. The textile sector benefits from the usage of MALP as a fire retardant in clothes, furniture, as well as other fabrics to limit the spread of fire. MALP successfully prolongs the combustion of textiles, allowing people more time to flee in the event of a fire. The risk of injuries from the fire has decreased as a result, increasing safety in public areas.

In terms of end-use, the dairy segment is projected to grow significantly over the analysis period. Phosphate salts are often used to improve the texture, taste, and stability of dairy products. They also act as stabilizers, lowering syneresis in fermented milk products including yogurt and inhibiting the production of ice crystals in frozen dairy food items.

From the regional front, the Middle East & Africa phosphate salts market is set to amass more than USD 10 billion by 2032. Phosphates are in high demand due to the region's expanding industrialization, as they are utilized in manufacturing applications including the making of detergents as well as flame retardants.