Monoaluminum Phosphate Market to Record an Exponential CAGR | 2026
Monoaluminum
phosphate is a vital ingredient used in the synthesis of refractory
materials. 40% to 50 % aqueous solutions of monoaluminum phosphate
are commonly utilized in the preparation of chemically bonded
refractory materials in the refractory materials industry. The
product functions as a binding and curing material in the processing
of high-temperature refractory materials. Even at lower temperatures,
monoaluminum phosphate reacts with oxidic and non oxidic raw
materials, by forming phosphate salts, and is desirable where quick
setting and thermally stable characteristics are essential. The
synthesis of monoaluminum phosphate for commercial production
involves the process of acid-base neutralization between high-purity
aluminum hydroxide and phosphoric acid. Monoaluminum phosphate
exhibits a strong affinity to metals, and its demand in electro
insulating plates is projected to rise significantly during the
forecast period.
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Global
Monoaluminum Phosphate Market: Overview
The
capability to withstand very high temperatures serves as a unique
advantage of monoaluminum phosphate when it is used as a binder,
unlike organic binders such as phenolic resins. Consequently, demand
for monoaluminum phosphate to be utilized as a coating for silicon
steel to offer interlaminar electrical resistance for transformer
cores is expected to rise significantly. The global steel industry
has been witnessing significant innovative trends in the last few
years. As stated by the World Steel Association, the global steel
industry invested 13% of revenue in capital investment projects and
process improvement in 2016. The global crude steel production rose
to about 1,689 Mn tons in 2017, from 1,239 Mn tons in 2009. Rise in
the output of the global steel industry is likely to drive the demand
for monoaluminum phosphate during the forecast period.
Based
on the form, the monoaluminum phosphate market can be classified into
powder and liquid. The product is used in the fabrication of ceramic
articles in the form of solid particles, or as a water-based
particulate slurry. These forms of monoaluminum phosphate can be
derived by changing the molar ratio of the reactants that are
utilized during the acid-base neutralization process. The preparation
of powder form monoaluminum phosphate involves excessive moles of
phosphoric acid during the synthesis process. Based on end-use, the
monoaluminum phosphate market can be divided into steel, cement,
glass, non-ferrous metals, and others. Steel is expected to remain a
major segment in the global monoaluminum phosphate market during the
forecast period.
Global
Monoaluminum Phosphate Market: Regional Outlook
In
terms of geography, the global monoaluminum phosphate market can be
segregated into North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa. Demand for monoaluminum phosphate is
projected to rise at a steady pace across North America by 2026,
owing to the expansion of metal and glass industries in the region.
The mature trends exhibited by the industrial sector in Europe is
expected to boost the monoaluminum phosphate market in the region at
a sluggish pace during the forecast period.
Asia
Pacific is projected to remain the leading market for monoaluminum
phosphate, globally, during the forecast period. Commercial and
residential construction sectors in the region are projected to
expand at a significant pace in the next decade. Steel, glass, cement
as well as metal processing sectors in the region are estimated to
expand at a considerable pace by 2026, as the governments of India
and China are likely to invest significantly for industrial
development in their respective countries. According to estimates by
the UN Department of Economic and Social Affairs, the number of
cities with more than 500,000 inhabitants is estimated to rise by 30%
in Asia by 2030. Increase in the pace of urbanization in South Korea,
India, and Taiwan is expected to propel the overall monoaluminum
phosphate market size in Asia Pacific during the forecast period.
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Global
Monoaluminum Phosphate Market: Key Players
Significant
players operating in the global monoaluminum phosphate market include
Nutrien Ltd., Shijiazhuang Xinsheng Chemical, Xuzhou Hengxing
Chemical, Taki Chemical, Innophos, Hubei Hanye Chemical, and Sulux
Phosphates Ltd, and Chemische Fabrik Budenheim KG.
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