LONDON--(BUSINESS WIRE)--Precision farming is gaining popularity among farmers, as it involves the use of optimum resources for crop cultivation. This farming technique can be used to get information on field conditions, including soil fertility, nutrient content, and moisture, which can then be used to optimize agricultural input practices. Moreover, this technique utilizes technologies such as soil and yield mapping and variable rate input (VRT), which will help farmers enhance crop productivity and profitability. Such factors will induce farmers to choose precision farming over traditional farming practices. This will subsequently drive the need for monoammonium phosphate. Furthermore, this industry research report also presents a competitive analysis of the market by application (fertilizers, flame retardants, food and beverages, and others) and geography (APAC, Europe, MEA, North America, and South America).
Competitive vendor landscape
The global monoammonium phosphate market is highly competitive with major vendors such as EuroChem Group AG, Ma’aden, OCP SA, PhosAgro, and The Mosaic Company, competing based on price, quality, and product/service offerings.
“Monoammonium phosphate is also used in electronics and leavening agents. Research and development have boosted its functionality as a flavoring agent, preservative, coloring agent, and buffering agent. It is also used to provide nutritional support for winemaking, yeast formation, and mead brewing. Moreover, its capability to reduce the intensity and spread of fire makes it suitable for use in flame retardant applications. The increasing uses of monoammonium phosphate in industrial applications will be a significant factor driving market growth,” says a senior analyst at Technavio
Top five monoammonium phosphate market vendors
EuroChem Group AG
EuroChem Group AG operates in five segments: mining, fertilizers, logistics, sales, and others. The company offers monoammonium phosphate for use in fertilizers, which are used for various soil types in bed and ground applications.
Ma’aden runs its operations through three segments: phosphate, aluminum, and precious and base metals. The company offers monoammonium phosphate with a minimum of 52% phosphorous pentoxide and 11% nitrogen. The product is commonly used in fertilizer applications.
OCP SA runs its operations through four segments: phosphate, phosphoric acid, fertilizers, and others. The company offers monoammonium phosphate, which is primarily used in fertilizers.
PhosAgro runs its operations through three segments: phosphate-based products, nitrogen-based products, and other operations. The company offers monoammonium phosphate for fertilizer application. The product contains 52% phosphorous and 12% nitrogen.
The Mosaic Company
The Mosaic Company runs its operations through three segments: phosphates, potash, and mosaic fertilizers. Monoammonium phosphate offered by the company is mainly used in fertilizers to improve yield. It is applied in the granular form and is used as the main ingredient to formulate suspension fertilizers.
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