Development: What an Expert has to say about the Magnesium phosphate Market
Pune, New York, USA, November 18 2020 (Wiredrelease) Research Dive –:The COVID-19 pandemic has adversely impacted several businesses and generated huge decline in the global economy. Also, approximately 85% of global countries have announced partial or complete lockdown of businesses, transportation and industrial activities to curb the virus spread. The magnesium phosphate products will play major role in food & beverages, medicine, fertilizers and many other applications. But, due to lockdown various production plants are facing decline in the demand for various chemicals that are being utilized in these production plants. During this unique situation, our analysts are helping our clients in understanding the impact of COVID19 on the magnesium phosphate market by providing them with an in-depth analysis.
Our report includes:
Technological Impact Social Impact Investment Opportunity Analysis Pre- & Post-COVID Market Scenario Infrastructure Analysis Supply Side & Demand Side Impact
According to a new study conducted by Research Dive, the global magnesium phosphate market is expected to reach up to $1,703.2 million by the end of 2026, and at a 4.2% CAGR in the projected time from 2019 to 2026.
The global market segmentation is done on the basis of product type, end user and region. This study provides complete analysis about drivers, restraints, segmental analysis and significant market participants.
Check out How COVID-19 impact on the Magnesium Phosphate Market. Click here to Connect with Analyst @ https://www.researchdive.com/connect-to-analyst/211
Factors impacting market growth:
According to the study, increasing demand for magnesium phosphate products from food & beverages and healthcare industries is significantly driving the market growth. But, fluctuation of raw materials prices due to unavailability is expected to hinder the magnesium phosphate market growth.
Di-magnesium phosphate product accounted for prime revenue share
By product type, the global market is categorized into mono-magnesium phosphate, di-magnesium phosphate and tri-magnesium phosphate. In these, di-magnesium product type generated a significant market size in the previous years and is estimated to account for $715.4 million by 2026. The mono-magnesium phosphate product type is anticipated to witness a significant rise and is projected to reach up to $681.3 million by 2026. The expected growth is mainly owing to increasing adoption of mono-magnesium phosphate products in the treatment of muscles relaxation.
The market size for the fertilizers accounted for $188.4 million in 2018 and is estimated to grow with the highest CAGR of 5.0% by 2026 @ https://www.researchdive.com/download-sample/211
Fertilizers end user segment will be the most lucrative
On the basis of end users, the global market is segmented into fertilizers, food & beverages, pharmaceutical, water treatment, animal feed, and others. The market for the fertilizers segment will witness to grow at a faster rate of 5.0% CAGR and is expected to generate a revenue of $291.9 million by the end of 2026. Growing utilization in the fertilizer to manage magnesium phosphate content in soil, which will accelerate the market growth in the forecast time. Food &beverage segment accounted for highest magnesium phosphate market size in 2018 and is projected to remain its trend throughout the forecast period.
The global magnesium phosphate market is investigated across the regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the market for Asia-Pacific region accounted for prominent market share, which was 41.8% in 2018 and is projected to generate a revenue of $777.6 million by 2026. This dominance is majorly due to favorable facilities for the production of magnesium phosphate in Asia-Pacific region and growing R&D activities across the region.
Significant market participants
The significant market participants in the global magnesium phosphate market are Nikunj Chemicals, Anmol Chemicals Group, Hindustan Phosphate, Celtic Chemicals, Innophos Holdings, Manus Aktteva Biopharma, American Elements, Jost Chemicals, Hap Seng and The Mosaic Company among others.
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