Global Monopotassium Phosphate Market Expected to Grow at a CAGR of 3.5% During 2024-2032, Driven by the Versatile Applications of the Product

The market for monopotassium phosphate is expected to be driven by the versatile applications of the product in various growing industries like pharmaceutical, hydroponic agriculture, and personal care and cosmetics. This is expected to aid the market growth over the forecast period. The market is further propelled by the rising demand for feed additives in the agro-industry and rise in the use of agricultural techniques such as hydroponic that requires a sizable number of additives per unit yield. Further, the rising personal care and pharmaceutical industries in emerging economies of the Asia Pacific and Latin America regions are expected to generate fresh demand for the raw materials and ingredients in the coming years, as a result, creating a lucrative opportunity for the manufacturers of monopotassium phosphate to extend their business into new geographies with a positive outcome.

Prayon S.A., a Belgian company, in 2017 announced its launch of a range of fertigation products for horticulture applications. The company believes that India has a huge potential for fertilisers. These fertilisers include monopotassium phosphate (MKP), anti calc, micronutri Fe, and monoammonium phosphate (MAP). The new product launches are expected to aid the market growth of the product. The product is also used in various cosmetics and personal care products, which can be purchased from online channels like Amazon.com, Inc. (NASDAQ: AMZN). The rising penetration of the internet across the globe is positively influencing the growth of the e-commerce site and the various industries dependent upon it.

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Market Analysis by Form, Application, and Region:

• The monopotassium phosphate industry, on the basis of form, is divided into powder, crystal, and liquid.
• Based on application, the market is segmented into food and beverage, pharmaceuticals, cosmetic and personal care, and animal feed, among others.
• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global monopotassium phosphate industry is driven by the rising use of the product as buffering agents in many chemical reactions in the industry.
• The market is aided by the growing demand for feed as it makes for a great source of ammonium phosphate in the feed.
• Other uses of monopotassium phosphate include its mixture with urea. It is done in order to accelerate the effectiveness of the feed by maintaining the soil pH and decreasing the loss of feed used in the soil.
• The rapid growth of industrial applications like cosmetics and personal care and nutraceutical, among others, is expected to propel the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for monopotassium phosphate for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the forms, applications, and major regions of monopotassium phosphate. 
• It gives an in-depth look at the regional price trends in the global market for monopotassium phosphate.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Master Plant-Prod Inc., Prayon S.A., Arihant Chemical Industries, and Ava Chemicals Private Limited, among others, are the key players in the global monopotassium phosphate market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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