Ocean View, DE -- (SBWIRE) -- 05/22/2020 -- Magnesium deficiency has been cited as a root cause of many of the mental and physical ailments, driven by which magnesium phosphate market has strongly established its stance in the pharmaceutical sector. Magnesium is claimed to be fourth common mineral in human anatomy after calcium, sodium, and potassium and is involved as a cofactor in over 300 enzyme systems.

The product is highly necessary for effective biomedical functioning of multiple metabolic pathways. Significant advancements in biomedical sector, particularly in the field of osteoporosis and arthrodesis, have also allowed magnesium phosphate industry to collect copious monetary benefits, given the product's extensive deployment in bone graft substitutes.

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Top Companies
1. American Elements
2. Anmol Chemicals Group
3. Celtic Chemicals
4. Hap Seng
5. Hindustan Phosphate
6. Innophos Holdings
7. Manus Aktteva Biopharma
8. The Mosaic Company
9. Nikunj Chemicals
10. Nithyasri Chemicals
11. Nexgen Chemicals
12. Powder Pack Chem
13. Pacific Chemicals Company
14. Refractory Minerals Company
15. Redox
16. Shanpar
17. Triveni Chemicals

Efficient usage of magnesium phosphate to prevent kidney stone is increasing its demand. Technological developments in pharmaceutical and agricultural industries would further provide a positive outlook on industry growth.

However, growing demand for products and lesser availability of raw materials due to insufficient supply would hinder the growth of magnesium phosphate market to an extent over the coming years. In addition, substitute advancements from material science development would likely restrict the product demand as well.

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Trends thar are defining the magnesium phosphate industry landscape:

Speaking of the application segment, the food and beverage sector is projected to show significant growth over the coming years. This proliferation is attributed to various factors like enzyme activity regulation, maintaining mineral balance, and improved energy production.

Apart from the food and beverage sector, increasing usage of the product in the healthcare sector across various treatment disciplines is also driving industry growth. The advanced biomedical sector uses magnesium phosphate for the treatment of arthrodesis and osteoporosis.

In addition, increasing usage of magnesium phosphate market as a substitute for bone graft owing to its biodegradability, biocompatibility, and effective mechanical properties is expected to further foster the market trends over the coming years.

On the regional front, the Asia Pacific magnesium phosphate industry is anticipated to continue its domination of the market size in the coming years. The region held a total market volume share of more than 45% back in 2017. The expanding food and beverage sector is a major factor stimulating the growth of industry in the region.

Regionally, the magnesium phosphate market drift has been quite commendable across the United States, with heavy applications in pharmaceutical sector. The increasing geriatric population base which has been heavily spending in orthopaedics and dental care has been one of the vital contributors to the regional magnesium phosphate market growth. As per the estimates by CDC, arthritis incidence in the United States is estimated to surpass 78.4 million by 2040. With U.S. at the growth front, overall North America magnesium phosphate industry procured 15% of the global share in 2017 and is estimated to register a CAGR of 3% over 2018-2024.

Additionally, growth of the agriculture industry is another factor complementing Asia Pacific magnesium phosphate market expansion. Rising government support and focus towards properly training farmers to improve plant growth, yield, and nutrition is further offering a positive impetus to the market share.

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Some of the key players contributing to the global magnesium phosphate market are Nexgen Chemicals, Pacific Chemicals Company, Hap Seng, Shanpar, Redox, Powder Pack Chem, Nikunj Chemicals, Nithyasri Chemicals, Anmol Chemicals Group, Celtic Chemicals, and American Elements among others.

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