Plastic straps, also known as plastic strapping, are flexible and durable materials used for securing, bundling, and unitizing products during packaging and transportation. They are commonly made from polymers like polypropylene (PP) or polyethylene terephthalate (PET) and are available in various widths, thicknesses, and strengths. Plastic straps can be applied manually with hand tools or automatically using strapping machines, offering an efficient and lightweight alternative to steel straps. Their surface properties allow for minimal tensioning effort, improved tension retention around corners, and enhanced operational efficiency.

Feed Phosphate Market Overview

Global Feed Phosphate Market reached US$ 1.8 billion in 2022 and is expected to reach US$ 2.5 billion by 2030, growing with a CAGR of 4.2% during the forecast period 2024-2031.

Feed phosphates are essential supplements used in livestock farming to meet the phosphorus requirements necessary for animal production. These inorganic phosphates support optimal growth, fertility, and bone development in livestock. Phosphorus plays a crucial metabolic role, with more physiological functions than any other element, making its adequate intake vital for the health and productivity of animals.

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Feed Phosphate Market Dynamics

Growing Demand for Meat and Meat Products

Rising consumption of meat, milk, and eggs is fueling increased feed production for the pig, broiler, and dairy industries. This growing demand for meat is a key factor driving the global feed phosphate market, as various livestock contribute to the production of meat and meat products.

According to the OECD-FAO Agricultural Outlook 2022-2031, global meat production is expected to increase by nearly 44 million tonnes by 2030, reaching 373 million tonnes. The FAO Statistical Yearbook also reports a 45% increase in meat production between 2000 and 2020. Additionally, world meat production saw a 5% rise in 2021, as indicated by the OECD-FAO Agricultural Outlook. The increasing global population continues to drive the consumption of meat, further boosting demand in the feed phosphate market.

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Feed Phosphate Market is segmented

By Type:  Monocalcium Phosphate, Dicalcium Phosphate, Mono-Dicalcium Phosphate, Tricalcium Phosphate, Defluorinated Phosphate, Others

By Form:  Powder, Granule

By Livestock:  Ruminant, Swine, Poultry, Aquaculture, Others

By Region:  North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Competitive Landscape

·         OCP

·         Guizhou Chanhen Chemical Corporation

·         Yara

·         Phosphea

·         Fosfitalia Group

·         EuroChem Group

·         Aashi Chem

·         J.R. Simplot Company

·         Nutrien Ltd

·         AAKO

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