Global Phosphate Fertilizer Market
Global Phosphate Fertilizer Market was valued at US$ 55.1 Bn in 2019, and is expected to reach US$ 83.9 Bn by 2027, at a CAGR of 5.4 % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding phosphate fertilizer market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in phosphate fertilizer market.
Farmers and gardeners are used phosphate based fertilizer to soil and plants to boost local phosphorus level. Phosphate based fertilizer transformed many infertile soils into productive agricultural areas. Growing plants are especially vulnerable to deficient Phosphorous levels, and almost every plant needs it to maintain healthy growth. Phosphorus is obtained from the fertilizer, bone metal, and rock phosphate. Rock phosphate is widely used raw material for the manufacture of phosphate fertilizer.
Based on the phosphate fertilizer type, Diammonium Phosphate has broadly used fertilizer through farmers and gardeners as it is a key source of nitrogen and phosphorous. Diammonium phosphate is cost-effective source of nitrogen for crops thereby it is widely used for a range of crops in broad-acre farming, cereals, sugarcane, sowing pastures, dairy pastures, fodder crops, and horticultural crops this trend is anticipated to continue over the forecast period.
After Diammonium Phosphate, Monoammonium Phosphate type have great possible for future growth of the phosphate fertilizers market. Owing Monoammonium Phosphate is a water-soluble phosphate fertilizer, broadly used as a source of nitrogen and phosphorous.
Single superphosphate was the first commercial mineral fertilizer, and it run to the development of the modern plant nutrient industry. Single superphosphate was once the most commonly used fertilizer, but other phosphorus fertilizers have largely replaced Single superphosphate because of its relatively low phosphorus content. Single superphosphate is 20 percent phosphorus while triple superphosphate is around 48 percent.
Based on the Application, cereal & grain segment dominate the phosphate fertilizer market, owing to rapidly increasing population and necessity of high production of food. Presence of large population in Asia Pacific region anticipated to fuel demand for cereals and grains in order to cater to the soaring food demand in the region.
The driving factor behind the phosphate fertilizer market is the increase in the demand for food. Globally rising population resulted in food security concerns and agricultural development.
Phosphate fertilizers is commonly used on vegetables, bulbs and tubers, blooming trees, fruits, roses and other flowering plants. A long-term study in New Zealand shows that the high dose nutrient actually improves soil by promoting the organic cycle and increasing pasture yields. However, it has also been linked to soil pH changes, fixation and may decrease earthworm populations.
Geographically, the Asia-Pacific region has the highest demand for phosphate fertilizers. Presence of the large population in countries such as India and China is anticipated to fuel demand for phosphate fertilizers in order to the soaring food demand in the region. After Asia-Pacific, the South American regions have great possible for future growth of the phosphate fertilizers market.
Scope of the Global Phosphate Fertilizer Market:
Global Phosphate Fertilizer Market, by Type
• Diammonium Phosphate
• Monoammonium Phosphate
• Superphosphate
• Single Superphosphate
• Triple Superphosphate
• Calcium Phosphate
Global Phosphate Fertilizer Market by Application
• Cereals & Grains
• Oil Seeds
• Fruits & Vegetables
Global Phosphate Fertilizer Market by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Global Phosphate Fertilizer Market:
• 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 Phos Agro
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