Phosphate Fertilizers Market
PUBLISHED: 2023 ID: SMRC22402
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Phosphate Fertilizers Market

Phosphate Fertilizers Market Forecasts to 2028 - Global Analysis By Product (Diammonium Phosphate (DAP), Triple Superphosphate (TSP) and Other Products), Crop Type (Grasslands, Permanent crops and Other Crop Types), Form (Dry, Liquid and Other Forms), Distribution Channel (Offline & Online), Application and Geography

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4.7 (22 reviews)
Published: 2023 ID: SMRC22402

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $66.26 BN

Projected Year Value (2028)

US $103.30 BN

CAGR (2022 - 2028)

7.68%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe

 

According to Stratistics MRC, the Global Phosphate Fertilizers Market is accounted for $66.26 billion in 2022 and is expected to reach $103.30 billion by 2028 growing at a CAGR of 7.68% during the forecast period. Phosphorus is a crucial component for plant growth since it promotes the formation of roots, seeds, and mature plants. To increase the local phosphorus levels, farmers and gardeners add fertiliser with phosphates to the soil and plants. Although nearly all plants require phosphorus to support healthy growth, young plants are particularly sensitive to low levels. Inorganic fertilisers that contain phosphorus are completely necessary in modern farming to maximise the yield of forage and cereals. The market for phosphate fertilisers is driven by rising meat consumption and a shortage of arable land.

According to the US Department of Agriculture, the country expanded the farmlands to plant 94.0 million acres of corn and 85.0 million acres of soybeans, which resulted in greater consumption of nitrogenous fertilizers in 2021. According to the World Bank, arable land (percentage of land area) in the United States was around 17.2% of the total land in 2018.



 

Market Dynamics:

Driver:

Limited accessibility to cultivable land

The decrease in the amount of arable land per person in various countries, including India, China, the United States, and others, is one of the key drivers boosting demand for phosphorus fertilisers. Fertilizers with phosphorus contribute to higher output. In order to meet the need for food production, agricultural yields must increase because there is less arable land per person and more people. Crop protection is a crucial strategy used by farmers to supply the world's food requirement. Using phosphorus fertilisers on crops to meet the increased demand for food products is also a tried-and-true technology. Due to the growing industrial and urbanisation, future agricultural land expansion is doubtful. Given the increased demand for meat and other food products, there may be an increase in the need for phosphorus fertilisers.

Restraint:

Strict Regulations and Environmental Constraints

The structure and operation of the global phosphorus fertilisers market have been continuously evolving as a result of the absence of market and free trade regulations guiding the supply and demand of phosphate rock. To manage and oversee them, the government employs regulations and state-owned company strategies. The market and the supply of phosphate rock suffer as a result of increased government intervention in response to significant changes in the phosphorus fertilisers market internationally. Increasing awareness of inefficient phosphate usage and loss, particularly in light of urbanisation, the P2O5 grade of phosphorus, cadmium pollution due to its detrimental effects on human health and the environment, and these are just a few of the problems affecting the market for phosphate fertilisers.

Opportunity:

Increase in population and rising food demand

The demand for effective agricultural goods and equipment is rising in response to the world's expanding population in order to feed more people despite the planet's expanding population. The amount of arable land and agricultural production area in the world are both drastically decreasing, which has increased demand for high-quality fertilisers like phosphatic compound fertilisers (DAP/MAP or NPK). In the upcoming years, it is projected that rising agricultural and irrigation technology innovation as well as expanding sprinkler or drip irrigation use will contribute to the market expansion of phosphatic fertilisers.

Threat:

Price volatility

Some of the constraints limiting the growth of the phosphate fertilisers market include price volatility and government rules restricting the usage of phosphate-based fertilisers. The primary factor causing price volatility for these fertilisers is changing energy costs. Other important variables that have a significant impact on the international trade in fertiliser products include transportation costs, exchange rates, policy choices, and other uncontrolled factors. All of these elements are anticipated to limit market expansion in the upcoming years.

Covid-19 Impact

The market's growth during and after the COVID-19 era has suffered. The market is expanding primarily due to the rising demand for phosphate fertilisers, but other elements, such as difficulties in obtaining necessary raw materials, may restrain this growth. Our research experts have examined historical data to determine the COVID-19 pandemic's effect on the phosphate fertilisers market as well as the key market drivers. To achieve a competitive edge, end goals can be determined and marketing strategies can be improved with the aid of a comprehensive analysis of the drivers.

The monammonium phosphate (MAP) segment is expected to be the largest during the forecast period

The monammonium phosphate (MAP) segment is estimated to have a lucrative growth, due to the fact that MAP is inexpensive and includes a sizable amount of phosphorus. Since it is an essential source of both phosphorus and nitrogen, MAP is the most significant phosphate fertiliser. Historically, it has been used as a granular fertiliser with great success in agricultural applications. It is used directly or as a raw ingredient to create a variety of complex fertilisers, including nitrogen phosphate and nitrogen phosphate potassium, because of its water solubility.

The cereals & grains segment is expected to have the highest CAGR during the forecast period

The cereals & grains segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the fact that grains and cereals make up the majority of all consumed crops. Additionally, there is a significant global area under cultivation for grains and cereals. The use of fertiliser in the cultivation of grains and cereals has gained popularity. The demand for phosphate fertiliser in this market is also being driven by the rising consumption of cereals and grains including rice, wheat, rye, corn, oats, sorghum, and barley around the world. It is anticipated that an increasing worldwide population would raise food demand, which will further fuel market expansion for phosphate fertilisers.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising demand for food items like rice and vegetables from import-dependent countries in the Asia Pacific region and the burgeoning food production. Additionally, the agriculture industry is the foundation of the Indian economy and accounts for a significant portion of its GDP. India produces the majority of its crops in the following order: wheat, rice, pulses, spices, and spice goods. India is one of the nations with the strongest demand for goods made from agricultural sources. As a result, it is predicted that demand for the market would increase over the projection period.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the region's agricultural production, which includes Germany as one of the fourth greatest producers and France as the sixth largest producer. Nearly one-third of the agricultural land in the European Union is owned by these two nations collectively.



 

Key players in the market

Some of the key players profiled in the Phosphate Fertilizers Market include Euro chem, Potash Corp of Saskatchewan Inc., Agrium Inc., Israel Chemicals Limited, The Mosaic Co., Coromandel International Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Jordan Phosphate Mines Co.PLC, Nutrien Ltd., OCP SA, Mosaic Co., PhosAgro AG., Yara International ASA, CF Industries Holdings Inc., PJSC PhosAgro, RAWAG, Inttraders and Shams Chemicals Co.

Key Developments:

In May 2022, Coromandel International, a fertilizer manufacturer, plans to buy a 45% stake in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining firm based in Senegal Africa, for $19.6 million (approximately $150 crore).

In May 2022, Indian Potash Ltd signed a five-year agreement with Israel Chemical Ltd to import 0.6-0.65 million tonnes of potash muriate annually.

In February 2022, EuroChem Group (hereafter referred to as "EuroChem" or "the Group"), a leading global producer of fertilizer, recently announced that it had completed the acquisition of the Serra do Salitre phosphate project in Brazil.

Products Covered:
• Diammonium Phosphate (DAP)
• Triple Superphosphate (TSP)
• Single Superphosphate (SSP)
• Monammonium Phosphate (MAP)
• Other Products

Crop Types Covered:
• Grasslands
• Permanent crops
• Floriculture crops
• Pastures
• Plantation crops
• Fruits & Vegetables
• Oilseeds & Pulses
• Cereals & Grains
• Other Crop Types

Forms Covered:
• Dry
• Liquid
• Pelleted
• Granular
• Other Forms

Distribution Channels Covered:
• Offline
• Online

Applications Covered:
• Foliar
• Aerial application
• Basal application
• Starter solution
• Soil
• Fertigation
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Phosphate Fertilizers Market, By Product
5.1 Introduction
5.2 Diammonium Phosphate (DAP)
5.3 Triple Superphosphate (TSP)
5.4 Single Superphosphate (SSP)
5.5 Monammonium Phosphate (MAP)
5.6 Other Products

6 Global Phosphate Fertilizers Market, By Crop Type
6.1 Introduction
6.2 Grasslands
6.3 Permanent crops
6.4 Floriculture crops
6.5 Pastures
6.6 Plantation crops
6.7 Fruits & Vegetables
6.8 Oilseeds & Pulses
6.9 Cereals & Grains
6.10 Other Crop Types

7 Global Phosphate Fertilizers Market, By Form
7.1 Introduction
7.2 Dry
7.3 Liquid
7.4 Pelleted
7.5 Granular
7.6 Other Forms

8 Global Phosphate Fertilizers Market, By Distribution Channel
8.1 Introduction
8.2 Offline
8.3 Online

9 Global Phosphate Fertilizers Market, By Application
9.1 Introduction
9.2 Foliar
9.3 Aerial application
9.4 Basal application
9.5 Starter solution
9.6 Soil
9.7 Fertigation
9.8 Other Applications

10 Global Phosphate Fertilizers Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Euro chem
12.2 Potash Corp of Saskatchewan Inc.
12.3 Agrium Inc.
12.4 Israel Chemicals Limited
12.5 The Mosaic Co.
12.6 Coromandel International Ltd.
12.7 Hubei Xingfa Chemicals Group Co. Ltd.
12.8 Jordan Phosphate Mines Co.PLC
12.9 Nutrien Ltd.
12.10 OCP SA
12.11 Mosaic Co.
12.12 PhosAgro AG.
12.13 Yara International ASA
12.14 CF Industries Holdings Inc.
12.15 PJSC PhosAgro
12.16 RAWAG
12.17 Inttraders
12.18 Shams Chemicals Co.

List of Tables
1 Global Phosphate Fertilizers Market Outlook, By Region (2020-2028) ($MN)
2 Global Phosphate Fertilizers Market Outlook, By Product (2020-2028) ($MN)
3 Global Phosphate Fertilizers Market Outlook, By Diammonium Phosphate (DAP) (2020-2028) ($MN)
4 Global Phosphate Fertilizers Market Outlook, By Triple Superphosphate (TSP) (2020-2028) ($MN)
5 Global Phosphate Fertilizers Market Outlook, By Single Superphosphate (SSP) (2020-2028) ($MN)
6 Global Phosphate Fertilizers Market Outlook, By Monammonium Phosphate (MAP) (2020-2028) ($MN)
7 Global Phosphate Fertilizers Market Outlook, By Other Products (2020-2028) ($MN)
8 Global Phosphate Fertilizers Market Outlook, By Crop Type (2020-2028) ($MN)
9 Global Phosphate Fertilizers Market Outlook, By Grasslands (2020-2028) ($MN)
10 Global Phosphate Fertilizers Market Outlook, By Permanent crops (2020-2028) ($MN)
11 Global Phosphate Fertilizers Market Outlook, By Floriculture crops (2020-2028) ($MN)
12 Global Phosphate Fertilizers Market Outlook, By Pastures (2020-2028) ($MN)
13 Global Phosphate Fertilizers Market Outlook, By Plantation crops (2020-2028) ($MN)
14 Global Phosphate Fertilizers Market Outlook, By Fruits & Vegetables (2020-2028) ($MN)
15 Global Phosphate Fertilizers Market Outlook, By Oilseeds & Pulses (2020-2028) ($MN)
16 Global Phosphate Fertilizers Market Outlook, By Cereals & Grains (2020-2028) ($MN)
17 Global Phosphate Fertilizers Market Outlook, By Other Crop Types (2020-2028) ($MN)
18 Global Phosphate Fertilizers Market Outlook, By Form (2020-2028) ($MN)
19 Global Phosphate Fertilizers Market Outlook, By Dry (2020-2028) ($MN)
20 Global Phosphate Fertilizers Market Outlook, By Liquid (2020-2028) ($MN)
21 Global Phosphate Fertilizers Market Outlook, By Pelleted (2020-2028) ($MN)
22 Global Phosphate Fertilizers Market Outlook, By Granular (2020-2028) ($MN)
23 Global Phosphate Fertilizers Market Outlook, By Other Forms (2020-2028) ($MN)
24 Global Phosphate Fertilizers Market Outlook, By Distribution Channel (2020-2028) ($MN)
25 Global Phosphate Fertilizers Market Outlook, By Offline (2020-2028) ($MN)
26 Global Phosphate Fertilizers Market Outlook, By Online (2020-2028) ($MN)
27 Global Phosphate Fertilizers Market Outlook, By Application (2020-2028) ($MN)
28 Global Phosphate Fertilizers Market Outlook, By Foliar (2020-2028) ($MN)
29 Global Phosphate Fertilizers Market Outlook, By Aerial application (2020-2028) ($MN)
30 Global Phosphate Fertilizers Market Outlook, By Basal application (2020-2028) ($MN)
31 Global Phosphate Fertilizers Market Outlook, By Starter solution (2020-2028) ($MN)
32 Global Phosphate Fertilizers Market Outlook, By Soil (2020-2028) ($MN)
33 Global Phosphate Fertilizers Market Outlook, By Fertigation (2020-2028) ($MN)
34 Global Phosphate Fertilizers Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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