Phosphate Fertilizers Market Owing to Rise As Of Increased Demand From Agricultural Producers For A Fertilizer

 Phosphate Fertilizers Industry Overview

 

The global phosphate fertilizer market size was valued at USD 61.63 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2040. This is attributed to the increased demand from agricultural producers for a fertilizer that provides necessary nutrients such as nitrogen and potassium. Agricultural products, such as fruits, vegetables, cereals, and pulses, are major application areas.

 

The use of phosphorous fertilizers in various grains promotes root growth, improves crop quality, and enhances stalk strength. Phosphorus rocks are the most significant global sources of phosphorus. Globally, the U.S. is the leading producer and consumer of phosphate rocks, which are primarily used for the manufacturing of the product. The rising global demand for food is a significant factor driving the growth of the market. 

 

Gather more insights about the market drivers, restrains and growth of the Global Phosphate Fertilizers Market

 

The global demand for phosphate is surging owing to the increasing world population resulting in rising food demand. The spike in costs of raw materials resulting from increased investments in new mine capacity expansions is expected to continue in the coming years as well.

 

Hence, rising prices of mining activities impact the costs of raw materials worldwide. Emerging economies around the world are now realizing the importance of using the product in agricultural production. Governments of major agrarian economies such as Brazil and India support the use of phosphate fertilizers to improve crop yields. This has encouraged farmers and local entrepreneurs in these countries to increase the consumption of fertilizer-grade phosphate.

 

The COVID-19 pandemic has significantly impacted various global businesses related to the agricultural sector, agricultural inputs, fertilizers, etc. As a majority of countries in Asia Pacific are agrarian economies, any slowdown in their agricultural activities or momentary pauses in their cross-border trade has a significant impact on the overall operations of agricultural companies and farmers operating in Asia Pacific.

 

This eventually leads to disruptions in the overall agricultural sector across all major countries of the region. In 2020, amid the COVID-19 pandemic, the prices of primary raw materials such as ammonia and sulfur increased sharply owing to supply restrictions and refinery curtailments.

 

Browse through Grand View Research's Agrochemicals & Fertilizers Industry Research Reports.

  • Nitrogenous Fertilizer Market - The global nitrogenous fertilizer market size was valued at USD 57.2 billion in 2021 and is projected to register a compound annual growth rate (CAGR) of 5.7% in terms of revenue from 2022 to 2030. The growth is attributed to the increasing popularity of agriculture on a commercial level across the world. 
  • Phosphate Rock Market - The global phosphate rock market size was valued at USD 22.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.2% from 2022 to 2030. Increasing demand from fertilizers is anticipated to boost the demand for phosphate rock over the forecast period. The rising global population, coupled with the growing food industry, is expected to drive the need for grains and cereals over the coming years.

 

Phosphate Fertilizers Market Segmentation

Grand View Research has segmented the global phosphate fertilizer market report based on the product, application, and region:

Phosphate Fertilizer Market Product Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)

  • Monoammonium Phosphate (MAP)
  • Diammonium Phosphate (DAP)
  • Single Superphosphate (SSP)
  • Triple Superphosphate (TSP)
  • Others

Phosphate Fertilizer Market Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)

  • Cereals & Grains
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others

Phosphate Fertilizer Market Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Market Share Insights

  • August 2021 : EuroChem Group signed an agreement to acquire a phosphate project of Serra do Salitren based in Brazil. This acquisition is expected to strengthen the crop nutrient production and distribution capabilities of the company.

 

Key Companies profiled:

Some prominent players in the global phosphate fertilizers market include

  • Eurochem Group AG
  • Agrium Inc.
  • Potash Corp. of Saskatchewan Inc.
  • Yara International ASA
  • CF Industries Holdings Inc.
  • Israel Chemicals Ltd.
  • Coromandel International Ltd.
  • The Mosaic Co.
  • S.A OCP
  • PJSC PhosAgro.

 

Order a free sample PDF of the Phosphate Fertilizers Market Intelligence Study, published by Grand View Research.

 

 

 

 

 

 

Comments

Post a Comment

Popular posts from this blog

Water and Wastewater Treatment Industry ESG Thematic Report, 2022: Astra ESG Solutions

Image
      With the world observing unprecedented challenges and the influence of climate change, the water and wastewater treatment industry size could be pronounced on the back of bullish investment in a sustainable future. Developments of environmental, social and governance practices will help stockholders map impacts to their value chain, enable performance reporting and tracking and exhibit a corporate commitment to sustainable growth. Industry leaders are expected to shift their attention to the impact of water shortages, soaring prices, and surging regulations in their decision-making. Stakeholders are emphasizing 4R—reduce, reuse, recycle and reclaim—to streamline wastewater treatment and propel ESG compliance. Investors and consumers are poised to focus on the ESG profile and minimize operational risks amidst concerns about pollution, energy consumption, climate change, and the rising usage of chemicals.    The World Resources Institute forecasts a 56% deficit of freshwater by 203
Read more

Diesel Generator Sets Industry, 2018 Research Report in EMEA (Europe, Middle East and Africa) Market

Image
In this report, the EMEA Diesel Generator Sets market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025. Geographically, this report split EMEA into Europe, the Middle East and Africa, With sales (K Units), revenue (Million USD), market share and growth rate of Diesel Generator Sets for these regions, from 2013 to 2025 (forecast) • Europe: Germany, France, UK, Russia, Italy and Benelux; • Middle East: Saudi Arabia, Israel, UAE and Iran; • Africa: South Africa, Nigeria, Egypt and Algeria. Request a Free Sample Copy of Diesel Generator Sets Industry Report @ https://www.radiantinsights.com/research/emea-europe-middle-east-and-africa-diesel-generator-sets-industry-2018/request-sample EMEA Diesel Generator Sets market competition by top manufacturers/players, with Diesel Generator Sets sales volume (K Units), price (USD/Unit), revenue (Million USD) and market share for each manufactu
Read more

Aerospace Foam Market Is Growing At A CAGR Of 6.1% During The Forecast Period

  Synopsis: In line with the report published by the experts the scope of the global Aerospace Foam Market was priced at US$ 5.38 billion in 2017. It is projected to touch US$ 8.66 billion by 2025, growing at a CAGR of 6.1% during the forecast period. Increasing demand for light-weight materials for the applications in aircraft is estimated to boost the development during the period of forecast. The aerospace foams are fabricated of materials having cellular designed and possess low-slung density. Usually those are utilized for the purposes of dampening the vibrations, cushioning and the insulation. Along with the possessions for example resistance to heat, good tensile strength, durability and rigidness the demand for it is increasing for diverse applications in the aircraft manufacturing for example rotor blades and roof tops. The growth in government resourcefulness in military aircrafts may possibly upsurge the demand for aerospace foam. Request a Free Sample Copy of Aerospace Foam
Read more