(MENAFN- GlobeNewsWire - Nasdaq) NEW YORK, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Here are some highlights from a recent IndexBox report on the global dicalcium phosphate market.
The global dicalcium phosphate market is projected to increase from $927M in 2022 to $1.1B in 2030, growing at a rate of 2.1% during the forecast period. The rising demand for phosphate-based fertilizers in the agricultural sector is expected to be a key driving factor for the market expansion. In addition, the increasing need for feed phosphates in the animal husbandry industry is also projected to contribute to the market growth.
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Dicalcium phosphate (DCP) is a dibasic calcium phosphate formed by partial neutralization of phosphoric acid with calcium hydroxide. It is found in nature as the mineral brushite. DCP is used as a flame retardant, animal feed , food additive, pharmaceutical and in some toothpastes as a polishing agent and whitening agent. It has many applications in the industrial production of chemicals, including in the manufacture of phosphoric acid and fertilizers.
The asia-pacific region is anticipated to be the leading market for dicalcium phosphate during the forecast period due to the growing demand for phosphate-based fertilizers in China and India. The North American and European markets are also expected to witness significant growth during the forecast period.
Market Challenges
However, there are also some challenges that need to be addressed in order to ensure sustained market growth. These include the volatile prices of raw materials, stringent regulations related to environmental concerns, and competition from alternative products.
Dicalcium phosphate is a fertilizer that can have a significant impact on the environment. When used in agriculture, it can leach into water supplies and contaminate them. It can also pollute the air if it is not properly controlled. The manufacture of dicalcium phosphate also results in the release of greenhouse gasses into the atmosphere. These emissions contribute to climate change.
Dicalcium phosphate's main alternatives are monocalcium phosphate (MCP) and defluorinatedphosphoric acid (DFA). DCP has a number of advantages over its competitors, including a lower cost of production, higher bioavailability, and greater stability in storage. However, it also has some disadvantages, such as a lower phosphorus concentration and a more abrasive texture.
Dicalcium Phosphate Production
The wet process involves treating rock phosphate with sulfuric acid to produce phosphoric acid. The phosphoric acid is then neutralized with calcium hydroxide to form DCP.
The thermal process involves heating defluorinated phosphate rock above 950°C to produce a mixture of phosphates which is then cooled and treated with sulfuric acid to produce phosphoric acid. The phosphoric acid is then neutralized with calcium hydroxide to form DCP.
Dicalcium Phosphate Price Formation
The formation of dicalcium phosphate prices is a process that is affected by many factors. The major one that influences the price is the availability of raw materials. Others include transportation and production costs, as well as market demand.
Significant increases in energy costs and freight rates in recent years have driven up dicalcium phosphate prices. The average import price for this product increased from $701 per ton in 2021 to $1110 per ton in 2022.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
Companies Mentioned in the Report
Adisseo France SAS, Phosagro, OCP Group, EuroChem Group AG, Yara International ASA, Potash Corporation of Saskatchewan Inc., The Mosaic Company, Jinan Zhongbang Chemical Co. Ltd., NCPC Hebei Phosphate Chemical Co. Ltd., Innophos Holdings, Inc., Phosagro, Solvay SA
Sources
world – calcium hydrogenorthophosphate (dicalcium phosphate) - market analysis, forecast, size, trends and insights
eu - calcium hydrogenorthophosphate (dicalcium phosphate) - market analysis, forecast, size, trends and insights
asia - calcium hydrogenorthophosphate (dicalcium phosphate) - market analysis, forecast, size, trends and insights
u.s. - calcium hydrogenorthophosphate (dicalcium phosphate) - market analysis, forecast, size, trends and insights
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