The Latin America, Middle East and Africa Magnesium Phosphate Market would witness market growth of 5.2% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 11,128.19 tonnes, showcasing a growth of 3.2% (2024-2031).
In the magnesium phosphate market, animal feed supplements are crucial applications that contribute to the health and productivity of livestock. Magnesium phosphate is utilized in animal feed formulations to provide essential minerals necessary for proper growth, reproduction, and overall well-being of animals. Magnesium plays a vital role in various physiological processes, including enzyme activation, muscle function, and nerve transmission, while phosphorus is essential for bone formation, energy metabolism, and cell structure. Hence, Argentina would utilize 408.85 tonnes of magnesium phosphate for animal feed by the year 2031.
The Brazil market dominated the LAMEA Magnesium Phosphate Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $51.7 Million by 2031. The Argentina market is capturing a CAGR of 4.7% during (2024 - 2031). Additionally, The South Africa market would register a CAGR of 5.9% during (2024 - 2031).
The personalized medicine trend in the pharmaceutical sector influences the demand for magnesium phosphate-based formulations. Personalized medicine aims to deliver tailored therapeutic interventions based on individual patient characteristics, genetic makeup, and disease profiles. Magnesium phosphate excipients are crucial in formulating customized dosage forms and enhancing drug stability, bioavailability, and patient compliance. As personalized medicine continues to gain momentum, the demand for magnesium phosphate in pharmaceutical formulations is expected to increase.
Industries’ growing focus is on green chemistry principles and sustainable manufacturing practices. Magnesium phosphate’s catalytic properties make it an attractive option for industries seeking environmentally friendly alternatives to traditional catalysts. By promoting cleaner production methods, reducing energy consumption, and minimizing waste generation, magnesium phosphate contributes to sustainable manufacturing processes across sectors such as chemicals, polymers, and materials science.
The UAE’s chemical sector is experiencing significant growth, with increased investment in manufacturing facilities and production infrastructure. As a result, there is a corresponding rise in the production capacity of phosphorus-based chemicals, including those used in producing magnesium phosphate compounds. Expanding chemical production facilities in the UAE contributes to enhanced availability and supply of phosphorus-based raw materials for global magnesium phosphate production. As per the Industrial Development Bureau, the chemical industry in Abu Dhabi accounts for the greatest portion of the country’s GDP, contributing 53% in 2021 and attracting over AED 21 billion in investments. In conclusion, the increasing food processing and chemical industries are driving the market’s growth.
Free Valuable Insights: The Worldwide Magnesium Phosphate Market is Projected to reach USD 2 Billion by 2031, at a CAGR of 4%
Based on Form, the market is segmented into Dimagnesium Phosphate, Monomagnesium Phosphate, and Trimagnesium Phosphate. Based on Application, the market is segmented into Fertilizer, Animal Feed, Detergent, Food, and Others. Based on countries, the market is segmented into Brazil, Argentina, Chile, Morocco, South Africa, Nigeria, and Rest of LAMEA.
By Form (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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