Phosphate Fertilizers - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Phosphate Fertilizers Market is accounted for $56.64 billion in 2018 and is expected to reach $87.12 billion by 2027 growing at a CAGR of 4.9% during the forecast period. Rise in population and diversified food demand are likely to boost the growth of the Phosphate Fertilizers market. However, pricing volatility and government policies regarding use of phosphate-based fertilizers are likely to hamper the profit boundaries.
Phosphorus is an important element for plants growth as it aids in root development, seed development, and plant maturation. Farmers and gardeners apply phosphate-based fertilizer to soil and plants to boost local phosphorus levels. Young plants are especially vulnerable to deficient phosphorus levels, however almost every plant needs it to maintain healthy growth. Modern farming is fully dependent on inorganic fertilizers containing phosphorus so as to maximize the production of forage and grains. The phosphate fertilizers market is driven by growing meat consumption and limited availability of arable land.
Based on type, the Diammonium Phosphate (DAP) segment is likely to have a huge demand due to its usage in cereals, sugarcane, broad-acre farming, sowing pastures, dairy pastures, fodder crops, and horticultural crops. Also, DAP is an effective source of phosphorus for crops.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the presence of large population in countries such as China and India and increasing demand for diversified food such as fruits and vegetables, cereals and grains, and oilseeds. Also that, India is the second largest consumer and largest importer of DAP fertilizer.
Some of the key players in the Phosphate Fertilizers market are the Agrium Inc., Israel Chemicals Limited, CF Industries Holdings Inc., Coromandel International Ltd., Nutrien Ltd., PhosAgro, OCP S.A., Yara International ASA, EuroChem Group AG, and The Mosaic Company.
• Chemical Phosphate Fertilizers
• Natural Phosphate Fertilizers
• Diammonium Phosphate (DAP)
• Monoammonium Phosphate (MAP)
• Rock Phosphate
• Super Phosphate
• Other Types
• Cereals and Grains
• Other Crops
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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