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North America Magnesium Phosphate Market to exhibit appreciable growth through 2024

Author : Ravi Chawat | Published Date : 2021-07-13 

Magnesium Phosphate Market size is expected to be augmented by intensifying product usage in various sectors such as pharmaceutical, agricultural, food & beverage. Wide-ranging application in food and beverages sector coupled with growing consumer expenses on bakery products will stimulate magnesium phosphate industry outlook. Proliferating product demand for DNA synthesis, oxidative phosphorylation, glycolysis, energy production, and bone structural development is likely to drive the magnesium phosphate uses. Magnesium phosphate market forecast report predicts that the global business revenue share will surpass $1.5 billion by 2024.

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Increasing advancements in biomedical sector to treat skeletal diseases such as arthrodesis and osteoporosis has fostered magnesium phosphate market trends. Escalating usage of magnesium phosphate as bone graft replacement due to its efficient biocompatibility, biodegradability, and mechanical properties will boost magnesium phosphate industry size.

Food and beverages sector is anticipated to bring in significant gains to magnesium phosphate market by 2024. Amplifying inclination of customers towards healthy lifestyles and guidelines for regulated dietary consumption will stimulate the product demand. Expanding demand as food additive primarily in dairy and bakery applications is likely to offer impetus to magnesium phosphate market share. In addition, substantial health advantages such as enhanced blood pressure, decreased fatigue, improved energy metabolism, and boosted protein synthesis will drive magnesium phosphate business growth.

Wide usage of the compound as an active ingredients to avoid psychiatric disorders, eclamptic seizures, heart attacks, and asthma is anticipated to propel magnesium phosphate market share. Furthermore, prevention of frequent urination, diabetes, and bladder issues will proliferate product scope in pharmaceutical applications.

Magnesium phosphate industry forecast report has predicted that more than 300 kilo tons of dimagnesium phosphate is expected to be in demand by 2024. Expanding demand for packaged food products is mainly projected to surge product demand. Escalating magnesium phosphate use as emulsifier, stabilizer, and PH regulation reagent to preserve flavors and develop taste of food are among key prospects responsible for driving magnesium phosphate market outlook. Also, soaring demand from animal feed sector is forecast to encourage product demand.

North America magnesium phosphate market share accounted for more than 15% of entire industry revenue in 2017. Surging pharmaceutical sector coupled with augmenting healthcare expenditure in the region will drive magnesium phosphate industry size. Potential product utilizations as active pharmaceutical ingredients will promote the industry demand.

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KRONOX Lab Science, Celtic Chemicals, Triveni Chemicals, Innophos, Jost Chemicals, and Refractory Minerals Company are among key magnesium phosphate market participants. Some other leading market players are Nexgen Chemicals, Manus Aktteva Biopharma, Hap Seng, Shanpar, Pacific Chemicals Company, Nikunj Chemicals, and Redox. Product improvements and supply contracts, mergers and acquisitions for trade expansion are major policies implemented by industry players. For example, in August 2017, Innophos Holdings has reportedly acquired Novel Ingredients for the expansion of business in nutrition sector and to create advanced ingredient solutions for consumers.

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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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