Asia pacific Iron Phosphate Market to reach USD 370 million by 2024

Asia Pacific Iron Phosphate Market is likely to witness a significant upsurge in the coming years. 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.

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Propelling demand for food & beverage applications including bakery industry, nutrition supplements, and dairy industry will drive the iron phosphate market demand. Ferric phosphate is a good source of iron and is used to fortify food. Milk and dairy products have low iron content and hence the use of iron phosphate in these applications is augmenting. Selected regions displaying higher count of people with lower hemoglobin content in blood, will witness enhanced demand for iron phosphate related pharmaceuticals.

Iron phosphate coating can be applied by wipe, dip, and spray application. The key factors driving the iron phosphate industry 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 iron phosphate market segment.

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 iron phosphate market growth. Moreover, increasing consumer spending along with up developing residential construction sector will generate high demand for iron phosphate paint coatings.

Ferric pyrophosphate is used to fortify foods including flour, bread, milk powder, biscuits, infant cereals, chocolate-drink powders, and beverages. It is also used as nutritional iron source in the form of excipients catering pharmaceutical industry. Surging demand for anti-anaemics to improve the red blood cells count will fuel the iron phosphate market growth.

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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.

Glimpse of Table of Content (ToC)

Chapter 1. Iron Phosphate Market, Methodology & Scope

1.1. Methodology

1.1.1.  Initial data exploration

1.1.2.      Statistical model and forecast

1.1.3.      Industry insights and validation

1.1.4.      Definitions and Assumptions

1.1.5.      Forecast parameters & considerations

1.2. Data sources

1.2.1.  Secondary

1.2.2.      Primary

Chapter 2. Iron Phosphate Market, Executive Summary

2.1. Iron phosphate industry 3600 synopsis, 2013 –2024

2.1.1.  Business trends

2.1.2.   Product trends

2.1.3.   End use trends

2.1.4.   Regional trends

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