Magnesium Phosphate Market Report
Magnesium Phosphate Market by Form (Monomagnesium Phosphate, Dimagnesium Phosphate, and Trimagnesium Phosphate), Application (Fertilizer, Animal Feed, Detergent, Food, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030
Global Magnesium Phosphate Market Analysis
The global magnesium phosphate market accounted for $1,403.5 million in 2021 and is predicted to grow with a CAGR of 4.3%, by generating a revenue of $2,028.4 million by 2030.
Magnesium phosphate market is gaining huge popularity owing to wide range of health benefits due to which it is used in food & nutritional supplements. For instance, magnesium phosphate helps to combat fatigue and maintains the energy. It is an essential mineral for the health of bone and teeth. Also, it contributes to health of cell membranes, muscle, and nerve. It promotes healthy functioning of heart and muscles. Low magnesium levels in the body can increase the risk of diabetes, blood pressure, and heart disease.
However, excessive use of magnesium phosphate as food supplements is not recommended as it can lead to nausea, irregular heartbeats, vomiting, and others. This factor is anticipated to hamper the magnesium phosphate market size in the upcoming years.
The emerging applications of magnesium phosphate in drinking water treatment and in construction sector is predicted to generate excellent growth opportunities. For instance, in the drinking water treatment, phosphates are used for corrosion reduction in water mains. In construction sector, magnesium phosphate cement is used owing to its low dry shrinkage, quick setting time, excellent strength & hardening properties, and others.
According to regional analysis, the Asia-Pacific magnesium phosphate market accounted for $597.0 million in 2021 and is predicted to grow with a CAGR of 5.0% in the projected timeframe.
Magnesium Phosphate Overview
Magnesium phosphates are the salts of magnesium and phosphate that appear in the form of hydrates. Magnesium phosphate is a source of dietary supplement. It is used to prevent the deficiency of vitamin E, pH control agent, in infant formula, and as a stabilizer. Magnesium phosphate supports muscle relaxation and prevents cramping of muscles.
COVID-19 Impact on the Magnesium Phosphate Market
The financial uncertainties caused by the COVID-19 pandemic has negatively impacted the demand & supply of magnesium phosphate market. This impact is majorly owing to the use of magnesium phosphate across various end use industries majorly fertilizers, construction, food, animal feed, and others. For instance, the construction sector was one of the hardest hits owing to delay or postponements in construction projects, labor shortages, financial pressures, and others. This has indirectly impacted the demand for magnesium phosphate as magnesium phosphate cement is used in construction owing to its excellent strength, quick setting time, and hardening properties. Similarly, the fertilizer sector has experienced a negative impact owing to delay in the availability of raw materials, closed borders, import-export restrictions, and other factors. All these factors have led to negative impact on magnesium phosphate market demand during the COVID-19 pandemic.
Major companies operating in magnesium phosphate market have implemented several initiatives to deal with COVID-19 uncertainties. For instance, Innophos, the leader in phosphate and nutrition solutions, implemented several initiatives such as providing regular guidance regarding hygiene, precautionary measures, social distancing, and safety practices at their facilities to prevent the spread of coronavirus.
Growing Application of Magnesium Phosphate in Construction Sector to Drive the Market Growth
The use of magnesium phosphate in construction sector especially as a cement is gaining huge popularity. The magnesium phosphate cement has various characteristics as it hardens rapidly due to which it can gain high strength within short period. This cement is produced via reaction between magnesium oxide and phosphate at room temperature. This magnesium phosphate cement can bind to various substrates such as metals, wood, asphalt, concrete, and plastics. Some of the key properties of magnesium phosphate cement include high strength, low shrinkage rate, quick setting time, low electrical conductivity, abrasion resistance, excellent thermal conductivity, and others. Also, magnesium phosphate cement offers excellent freeze & thaw resistance, non-combustible, resist fire, and corrosion resistance. This cement can resist water penetration owing to formation of insoluble complexes. These factors are anticipated to drive the magnesium phosphate market demand during the forecast period.
To know more about global magnesium phosphate market drivers, get in touch with our analysts here.
Side Effects Associated with Excessive Intake of Magnesium Phosphate Dosage to Restrain the Market Growth
Excessive intake of magnesium phosphate dosage which can lead to severe side effects and fatalities is anticipated to restrain the market growth. Some of the side effects associated with excessive intake of magnesium phosphate include mental confusion, tiredness, vomiting, headache, nausea, breathing issues, and in severe cases, it can lead to death. These factors are major restraints for the magnesium phosphate market growth.
Use of Magnesium Phosphate in Animal Feed to Generate Excellent Growth Opportunities
The use of magnesium phosphate in animal nutrition as animal feed is anticipated to generate excellent growth opportunities. For instance, Yara UK Limited, the leading producer of crop nutrition solutions, offers Bolifor MGP+ which is widely used magnesium phosphate feed grade. It is used as a complete feed, mineral supplement, and concentrates to prevent phosphorous and magnesium deficiencies majorly in pigs, poultry, horses, cattle, and other animals. Bolifor MGP+ appears in the form of off-white granules which is odorless and has neutral taste. The Bolifor feed minerals offer several advantages owing to high consistency, quality, purity, feed efficiency, and digestibility. Also, these feed minerals have better taste that leads to less nutrient wastage by animals.
To know more about global magnesium phosphate market opportunities, get in touch with our analysts here.
Magnesium Phosphate Market
Source: Research Dive Analysis
The dimagnesium phosphate sub-type is anticipated to have a dominant market share and generate a revenue of $1,017.7 million by 2030, growing from $680.3 million in 2021. Dimagnesium phosphate is widely used as food additive as it does not have calories owing to which it has applications across nutritional supplements. Dimagnesium phosphate is widely used in making of wafers, pancakes, waffles, cakes, baking powders, refrigerated doughs, and others. Dimagnesium phosphate is considered as safer for use by European Union (EU) Commission Regulation, the part of European Parliament. It is used as acidulant in baking powders and has a neutralizing value of 40. These factors are anticipated to drive the dimagnesium phosphate market size during the forecast period.
Magnesium Phosphate Market
Source: Research Dive Analysis
The fertilizer sub-segment is anticipated to have a dominant market share and generate a revenue of $1,312.8 million by 2030, growing from $870.7 million in 2021. Magnesium phosphate fertilizers offer essential nutrients such as magnesium to the growth of plants. This is because magnesium boosts the photosynthesis process, and its deficiency can affect the plant growth. Thus, magnesium phosphate fertilizer promotes healthy roots, improves the plant resilience against various diseases, promotes seed production, and formation of flowers. Also, magnesium phosphate fertilizer is used as a soil conditioner that leads to robust crop production and growth. Thus, magnesium phosphate fertilizers offer various agronomic benefits which is essential for the growth of crops and to improve the soil conditions.
Magnesium Phosphate Market
Source: Research Dive Analysis
The Market for Magnesium Phosphate in Asia-Pacific to be the Most Dominant and Fastest Growing
The Asia-Pacific magnesium phosphate market accounted $597.0 million in 2021 and is projected to grow with a CAGR of 5.0%. The magnesium phosphate demand in the Asia-Pacific region is driven by its end use applications in fertilizers and construction sector. For instance, the construction industry in India is witnessing high growth owing to rising urbanization, development of megacities, and rapid infrastructure developments. In addition, China is leading producer and exporter of various fertilizers such as magnesium phosphate fertilizers. Even in India, the demand for fertilizer is high owing to majority of population being dependent on agriculture due to the presence of large arable land and to meet the food requirements of its growing population. All these factors are anticipated to drive the Asia-Pacific magnesium phosphate market demand during the forecast period.
Competitive Scenario in the Global Magnesium Phosphate Market
Business expansion and product launch are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading magnesium phosphate market players are Jost Chemical Co, Innophos Holdings, Inc., Triveni Chemicals, Refractory Minerals, Celtic Chemicals Ltd, KRONOX Lab Sciences Ltd., Anmol Chemicals, Nikunj Chemicals, Hap Seng, and American Elements.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Form
Segmentation by Application
Key Companies Profiled
Q1. What is the size of the global magnesium phosphate market?
A. The size of the global magnesium phosphate market was over $1,403.5 million in 2021 and is projected to reach $2,028.4 million by 2030.
Q2. Which are the major companies in the magnesium phosphate market?
A. Jost Chemical Co, Innophos Holdings, Inc., and Triveni Chemicals are some of the key players in the global magnesium phosphate market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific magnesium phosphate market?
A. Asia-Pacific magnesium phosphate market is anticipated to grow at 5.0% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Business expansion and product launch are the two key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Refractory Minerals, Celtic Chemicals Ltd, and KRONOX Lab Sciences Ltd. are the companies investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4.Magnesium Phosphate Market, by Form
4.1.1.Key market trends, growth factors, and opportunities
4.1.2.Market size and forecast, by region, 2021-2030
4.1.3.Market share analysis, by country, 2021 & 2030
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2021-2030
4.2.3.Market share analysis, by country, 2021 & 2030
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region, 2021-2030
4.3.3.Market share analysis, by country, 2021 & 2030
5.Magnesium Phosphate Market, by Application
5.1.1.Key market trends, growth factors, and opportunities
5.1.2.Market size and forecast, by region, 2021-2030
5.1.3.Market share analysis, by country, 2021 & 2030
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2021-2030
5.2.3.Market share analysis, by country, 2021 & 2030
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2021-2030
5.3.3.Market share analysis, by country, 2021 & 2030
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2021-2030
5.4.3.Market share analysis, by country, 2021 & 2030
5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region, 2021-2030
5.5.3.Market share analysis, by country, 2021 & 2030
6.Magnesium Phosphate Market, by Region
6.1.1.Key market trends, growth factors, and opportunities
6.1.2.Market size and forecast, by Form, 2021-2030
6.1.3.Market size and forecast, by Application, 2021-2030
6.1.4.Market size and forecast, by country, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
22.214.171.124.Market size and forecast, by Form, 2021-2030
126.96.36.199.Market size and forecast, by Application, 2021-2030
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by Form, 2021-2030
6.2.3.Market size and forecast, by Application, 2021-2030
6.2.4.Market size and forecast, by country, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
22.214.171.124.Market size and forecast, by Form, 2021-2030
126.96.36.199.Market size and forecast, by Application, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
6.2.10.Rest of Europe
22.214.171.124.Market size and forecast, by Form, 2021-2030
126.96.36.199.Market size and forecast, by Application, 2021-2030
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by Form, 2021-2030
6.3.3.Market size and forecast, by Application, 2021-2030
6.3.4.Market size and forecast, by country, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
22.214.171.124.Market size and forecast, by Form, 2021-2030
126.96.36.199.Market size and forecast, by Application, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
6.3.10.Rest of Asia Pacific
22.214.171.124.Market size and forecast, by Form, 2021-2030
126.96.36.199.Market size and forecast, by Application, 2021-2030
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Form, 2021-2030
6.4.3.Market size and forecast, by Application, 2021-2030
6.4.4.Market size and forecast, by country, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
6.4.7.United Arab Emirates
22.214.171.124.Market size and forecast, by Form, 2021-2030
126.96.36.199.Market size and forecast, by Application, 2021-2030
188.8.131.52.Market size and forecast, by Form, 2021-2030
184.108.40.206.Market size and forecast, by Application, 2021-2030
6.4.9.Rest of LAMEA
220.127.116.11.Market size and forecast, by Form, 2021-2030
18.104.22.168.Market size and forecast, by Application, 2021-2030
7.1.Jost Chemical Co
7.1.2.Operating business segments
7.1.5.Key strategy moves and development
7.2.Innophos Holdings, Inc.
7.2.2.Operating business segments
7.2.5.Key strategy moves and development
7.3.2.Operating business segments
7.3.5.Key strategy moves and development
7.4.2.Operating business segments
7.4.5.Key strategy moves and development
7.5.Celtic Chemicals Ltd
7.5.2.Operating business segments
7.5.5.Key strategy moves and development
7.6.KRONOX Lab Sciences Ltd.
7.6.2.Operating business segments
7.6.5.Key strategy moves and development
7.7.2.Operating business segments
7.7.5.Key strategy moves and development
7.8.2.Operating business segments
7.8.5.Key strategy moves and development
7.9.2.Operating business segments
7.9.5.Key strategy moves and development
7.10.2.Operating business segments
7.10.5.Key strategy moves and development
A wave of health awareness has struck all the people across the globe. People are now becoming aware that our body not only needs vitamins and minerals but also some good amount of magnesium phosphate to maintain proper bone health and live a healthy life. Magnesium phosphate is nothing but a chemical compound that contains phosphorus and magnesium. This compound is known to offer immense health benefits and is being increasingly used in several industrial areas today, which is predicted to drive the growth of the global magnesium phosphate market in the coming future.
Application Areas of Magnesium Phosphate
From food and beverages to pharmaceutical and fertilizers, the use of magnesium phosphate is progressively gaining importance in many industrial sectors. In 2014, Compass Mineral Manitoba, Inc., had registered a patent for phosphate magnesium zinc fertilizer. This patent was about a fertilizer that provided starter fertilizers a substitute to traditional phosphorous applications. This fertilizer claimed the rapid and early growth of the plant. The product was made of synergistic mixture of from about: 0.5 to about 1 part Mg; 2.4 to about 2.8 parts P2O5; and 2.8 parts Zn. Besides, during the same year, there was another patent registered which presented the invention related to a process for making slow release phosphate fertilizer. More particularly, the invention described a process for making FCMP from “Low grade rock phosphate ore (LGO)” available from Jhamarkotra mines of RSMM Ltd., Udaipur and serpentinite.
Moreover, magnesium phosphate has been used as an active element in numerous pharmaceutical industries for manufacturing of various products such as antacids, laxatives, and magnesium supplements. On the other hand, several companies in the animal feed industry are also using magnesium phosphate to their products as it is an essential nutrient in animal diets to safeguard optimal growth, improve gut functionality, fertility, and support bone development. TIMAB Magnesium is the one of the leading companies in Magnesium based animal feed. With continuous support from its experts and Groupe Roullier R & D, TIMAB Magnesium is always in hunt for new magnesium-based animal feed products.
COVID-19 Impact on Magnesium Phosphate Market
The outbreak of COVID-19 across the globe has unfavorably impacted the global magnesium phosphate market growth. Magnesium phosphate is majorly used across various end use industries in fertilizers, construction, animal feed, food, and others. All these industries were hit hard due to the pandemic owing to lockdown restrictions. There was a delay or postponements in construction projects, financial pressures, labor shortages, and other factors have negatively impacted the market growth. In addition, the delay in availability of raw materials in the fertilizers sector, import-export restrictions, closed borders, and other factors have drastically impacted the demand for magnesium phosphate during the pandemic period.
Magnesium Phosphate Market Trends and Developments
The key players of the global market include Jost Chemical Co, Triveni Chemicals, Innophos Holdings, Inc., Refractory Minerals, KRONOX Lab Sciences Ltd., Celtic Chemicals Ltd, Anmol Chemicals, Hap Seng, Nikunj Chemicals, and American Elements. These key are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global magnesium phosphate market growth in the upcoming years.
For instance, in September 2021, Orthofix Medical Inc., a global medical device company, announced the launch of a synthetic magnesium-based bone void filler namely, ‘Opus Mg Set’ osteoconductive scaffold for orthopedic procedures. Available in both injectable and moldable form, Opus Mg Set provides instant compressive strength post-implantation at the surgical site.
The rising product demand for DNA synthesis, glycolysis, oxidative phosphorylation, bone structural development and energy production are also expected to drive the magnesium phosphate market in the coming years. This can be backed by statistics offered by a research report from Research Dive. Moreover, Rockville, a Md.-based research firm stated that the focus on whole foods and natural food sources can lead to product formulations that consists of foods naturally rich in magnesium. The report further states that dairy food supplements, cereals, products, dairy substitutes, bread, baby food, bars and beverages will be at the frontline of the trend.
Forecast Analysis of Magnesium Phosphate Market
Global magnesium phosphate market is quite competitive in nature. Several applications of magnesium phosphate in medicines, food & beverages, fertilizers and feed application are thrusting the growth of magnesium phosphate market. In addition, the increasing usage of magnesium phosphate in animal nutrition as animal feed is predicted to drive the market growth by 2030. Conversely, the side effects associated with the excessive intake of magnesium phosphate may hamper the market growth in the projected timeframe.
The growing popularity and usage of magnesium phosphate in the construction industry and its rising usage in the food & nutritional supplements due to wide range of health benefits associated with magnesium phosphate are the significant factors and magnesium market trends estimated to bolster the growth of the global market in the coming future. Besides, Growth in the use of magnesium phosphate as bone graft substitute owing to its impressive mechanical properties, biocompatibility and biodegradability is expected to boost the magnesium phosphate market in coming years. According to a latest report published by Research Dive, the global magnesium phosphate market is expected to garner $2,028.4 million during the forecast period (2022-2030). Regionally, the Asia-Pacific market is estimated to observe dominant growth by 2030, owing to the growing construction and fertilizer sector in the region. For instance, rapid infrastructure development and production of fertilizers in countries like China and India.
Moreover, the rising focus of governments on food safety and healthy living along with consistent dietary consumptions for magnesium phosphate and other essential nutrients are sure to fuel the growth of magnesium phosphate market. Hence, it is clear that be it food industries, animal feed manufacturers or pharma companies the applications of magnesium phosphate are rising day by day and are sure to thrust the market growth in the near future.