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Magnesium phosphate market Competitive Dynamics and Global Industry Outlook 2024

Author : Ravi Chawat | Published Date : 2020-09-03 

Potential application in food & beverages, pharmaceuticals, fertilizers and feed application are propelling the magnesium phosphate market growth. Increasing product demand for oxidative phosphorylation, DNA synthesis, glycolysis, bone structural development and energy production will drive the industry demand.

Advanced biomedical sector to cure skeletal disorders including osteoporosis and arthrodesis has enhanced the product penetration in healthcare industry. Rising use of magnesium phosphate as bone graft substitute owing to its effective mechanical properties, bio compatibility and biodegradability will further stimulate the market demand.

Strong outlook for mineral rich feed products to improve milk production, enhance immunity and prevent hymagnesaemia in ruminants will propel the industry growth. Growing dietary and nutritional product demand especially in developed regions will have a positive outlook for business growth. The efficient product usage in preventing kidney stone has also fueled the product penetration. Technological development in agricultural and pharmaceutical industries will boost the global magnesium phosphate demand.

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Growing government focus on food safety awareness and healthy lifestyle coupled with standardized dietary intakes for magnesium phosphate and other nutrients will propel the market growth. Rising product demand along with raw material insufficiency are among key factors influencing the price trend. Substitute advancements through material science development may hinder the product demand.

Food & beverage application is anticipated to witness a significant growth over the forecast period. This growth can be credited to factors such as enhanced energy production, maintaining mineral balance and enzyme activity regulation. Strong outlook in bakery industry as a leavening agent will enhance the product penetration in food industry. In addition, reduced chances of diabetes, heart diseases and hypertension will propel the business size.

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Asia Pacific dominates the magnesium phosphate market and holds the maximum volume share of over 45% in 2017. Rising food & beverage and agriculture industries in this region are projected to fuel the market demand. Growing government focus and support on training the farmers to enhance plant growth, crop nutrition and yield are further driving the business growth.

Global magnesium phosphate market is competitive in nature. Key industry participants are Jostchemical, Refractory Minerals Company, Innophos, Triveni Chemicals, Celtic Chemicals and KRONOX Lab Science. Other prominent players are American Elements, Anmol Chemicals Group, Nithyasri Chemicals, Nikunj Chemicals, Powder Pack Chem, Redox, Shanpar, Hap Seng, Pacific Chemicals Company and Nexgen Chemicals. Manufacturers are anticipated to gain a larger market share by adopting various strategies such as merger & acquisition, R&D investments and supply agreements. In November 2017, Innophos acquired Nutra Genesis to strengthen its foothold in nutraceutical markets.

For More Information :

https://www.globenewswire.com/news-release/2018/07/18/1538770/0/en/Magnesium-Phosphate-Market-to-hit-1-5bn-by-2024-Global-Market-Insights-Inc.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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