Market Size of Diammonium Hydrogen Phosphate (DAP) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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Diammonium Hydrogen Phosphate Market Analysis
The market for Diammonium Hydrogen Phosphate (DAP) is expected to grow at a CAGR of over 2% during the forecast period. Major factors driving the market studied are increasing demand of diammonium hydrogen phosphate in fertilizers and rising demand from brewing segment. On the flipside, development of bio-based and eco-friendly substitutes and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
- Growing demand for diammonium hydrogen phosphate in firefighting products as a fire retardant is expected to offer various lucrative opportunities for the growth of market.
- By application, fertilizer segment is expected to dominate the market owing to the increase in the usage of diammonium hydrogen phosphate to increase the crop yield.
- Asia-Pacific region dominated the diammonium hydrogen phosphate market across the globe with the largest consumption from countries such as China and India.
