The market for Diammonium Hydrogen Phosphate (DAP) is expected to grow at a CAGR of over 2% during the forecast period. Major factors driving the market studied are increasing demand of diammonium hydrogen phosphate in fertilizers and rising demand from brewing segment. On the flipside, development of bio-based and eco-friendly substitutes and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
– Growing demand for diammonium hydrogen phosphate in firefighting products as a fire retardant is expected to offer various lucrative opportunities for the growth of market.
– By application, fertilizer segment is expected to dominate the market owing to the increase in the usage of diammonium hydrogen phosphate to increase the crop yield.
– Asia-Pacific region dominated the diammonium hydrogen phosphate market across the globe with the largest consumption from countries such as China and India.
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Key Market Trends
Increasing Demand from Fertilizers Segment
– Diammonium hydrogen phosphate is an inorganic phosphate and diammonium salt of phosphoric acid. It is soluble in water and manufactured by chemical reaction between phosphoric acid and ammonia.
– Diammonium hydrogen phosphate is widely used in agriculture sector to increase the ph level of the soil. Due to this, its demand is increasing in agriculture sector which is stimulating the diammonium phosphate market. However, after some time, the soil becomes more acidic due to nitrification of ammonium.
– Also, the demand of diammonium hydrogen phosphate is expected to increase due to shrinkage in arable land and stronger need for high quality and higher production yield of crops to feed the growing population.
– The global fertilizer market is expected to grow at a CAGR of over 3% during the forecast period. This is likely to provide ample opportunities for increasing the demand of diammonium hydrogen phosphate and thus, propel its market in the near future.
– Owing to all the above-mentioned factors for diammonium hydrogen phosphate, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market for diammonium hydrogen phosphate during the forecast period. In countries like China and India, owing to the growing agriculture sector and availability of large cultivable land, the demand for diammonium hydrogen phosphate has been increasing in the region.
– Diammonium hydrogen phosphate fertilizers are used in crops such as paddy, cotton, vegetable crops, peanut, and broomcorn. Owing to this, the demand of diammonium hydrogen phosphate fertilizers is increasing in agriculture sector in the region.
– Apart from the application in fertilizers, diammonium hydrogen phosphate is also used as a nutrient for yeast in fermentation, which is further utilized in mead brewing and wine industry. The Asia-Pacific wine market is expected to grow at a CAGR of over 11% during the forecast period and is anticipated to further aid the diammonium hydrogen phosphate market.
– Additionally, owing to properties such as characteristics of char formation and lowering pyrolysis temperature, it is used in firefighting products as a fire retardant. This factor is expected to positively impact the diammonium hydrogen phosphate market in the region.
– The Asia-Pacific fire retardant market is expected to grow at a CAGR of over 6% during the forecast period due to government policies focusing on maintaining the health and safety in commercial, residential and industrial buildings. This is likely to provide lucrative opportunities for the growth of diammonium hydrogen phosphate market during the forecast period.
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