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Iron Phosphate Market Segmentation, Analysis by Recent Trends, Development by Regions to 2024

Author : Rahul Varpe | Published Date : 2019-08-05 

The key factors driving the iron phosphate market growth in paint & coatings industry include increased paint adherence, higher impact resistance, rust reduction, lower operation costs, reduced phosphate sludge formation, and easy maintenance. Rising demand for metal pretreatment for higher durability of painted metals will propel the product segment.

As the healthcare industry is attempting to cope with increasing prevalence of diseases A report was released by UBS predicting that by 2025, the worldwide sales of electric vehicles will reach 16.5 million and approximately every sixth car sold will be an electric one, demonstrating a prolific revenue stream for the iron phosphate market. The lithium-iron phosphate batteries also have a wide range of benefits in grid stabilization, lasers, power tools also in aviation.caused by nutritional deficiency as well as other chronic disorders, the iron phosphate market can be expected to undergo a tremendous transformation. Stating the evolution of the iron phosphate industry, a large number of pharmaceutical companies are coming up with ways to infuse FePO4 in treatments for lowering fibroblast growth factor 23 (FGF23), which is an important biomarker of chronic kidney disease.

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Iron phosphate is used in animal feed to maintain their nutritional level and gain better productivity. Rising number of animals including dairy, poultry, and others and the need to maintain adequate iron levels in them will fuel the animal feed demand. Iron phosphate in the form of pesticides is used to target pests including slugs and snails. The demand for pesticides is increasing owing to need for increasing the farm productivity. 

Ferrous phosphate finds high applicability as a molliscicide. The growing use of molluscicides to kill slugs and snails will supplement the ferrous phosphate industry growth. Crops including citrus fruit trees, corn, potatoes, strawberries, tomatoes, sugarcane, and others observe high application of ferric phosphate molluscicide. The rising demand for ferrous phosphate in steel manufacturing owing to up surging steel industry will fuel the market growth. Moreover, increasing consumer spending along with up developing residential construction sector will generate high demand for iron phosphate paint coatings.

Asia pacific region accounted for more than 50% market share in 2017. Need for increasing agricultural output along with favorable government policies will drive the product growth in pesticides application. Changing consumer lifestyles & eating preferences towards processed food owing to globalization coupled with rising consumer spending in the region will propel the demand for iron phosphate in the food applications. Increasing count of people having iron deficiency will boost the product adoption in food & beverage application.

Global iron phosphate market share is highly fragmented due to presence of large regional and international players. Jost Chemical Co., Merck, American Elements, Charkit Chemical Corporation, and ILVE Chemicals are among the key players. Other industrial participants include Spectrum Laboratory Products, Crest Industrial Chemicals, Imperial Chem Corporation, Hefei Asialon Chemical Co. Ltd., and Aarvee Chemicals. Manufacturers are expected to invest in capacity expansion along with of implementing upon growth strategies particularly mergers & acquisitions, long term raw material supply contracts to improve their profit margins and gain higher market share.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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