Latin America Diammonium Hydrogen Phosphate Market is worth xx USD billion in 2021 and estimated to grow at a CAGR of xx%, to reach xx USD billion by 2026. The Latin America Diammonium Hydrogen Phosphate market is developing at an exceptionally quick pace.
Diammonium hydrogen phosphate (DAP) is one of the commonly used phosphorus fertilizer. It has appropriate physical properties and high nutrient content required for crop nurture. DAP fertilizer is extremely soluble and dissolves quickly in soil to discharge ammonium and phosphorus. Diammonium hydrogen phosphate has various types of applications such as fire retardant, corrosion inhibitors, chemical additives, and so on. Diammonium hydrogen phosphate is also used for a number of industrial processes, such as brewing, chemicals manufacturing, metal finishing and many more. Diammonium hydrogen phosphate also helps in yeast fermentation in wine manufacturing.
Latin America Diammonium Hydrogen Phosphate Market Drivers:
The significant drivers for Diammonium Hydrogen Phosphate are rising dependence on fertilizers because of the shrinking cultivable land and necessity for higher production yield of crops for the increasing population .Also surge in demand for firefighting products aimed at maintaining environment, health & safety in the commercial, industrial and residential buildings and surroundings in developing economies will boost this industry. However development of bio-based and eco-friendly fertilizers limits this industry.
Latin America Diammonium Hydrogen Phosphate Market – By Application:
Food Additive
Latin America Diammonium Hydrogen Phosphate Market – By End User Industry:
Diammonium Hydrogen Phosphate fertilizer is mostly used for peanut, broomcorn, cotton, paddy, and vegetable crops; hence, the demand is dependent on the production of these crops. The next major application is seen in the wine industry and yeast industry.
Geographical Analysis:
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. The market is anticipated to keep thriving in both created and creating districts. The huge rise in spending has increased the demand for Diammonium Hydrogen Phosphate.
Key Players:
Bunge, PhosAgro AG, SABIC, Mosaic Co., China Blue Chemicals Ltd., Sichuan Chuanxi Xingda Chemical Co., JR Simplot and Gujarat Narmada Valley are the leaders in the Latin America Diammonium Hydrogen Phosphate market.
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