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Global Phosphates Market- Top Key Players, Outlook and Segment Forecast, 2019-2027
Global Phosphates Market- Top Key Players, Outlook and Segment Forecast, 2019-2027
In terms of value, the global phosphates market is anticipated to expand at a CAGR of ~4% from 2019 to 2027.

PhosphatesMarket: Introduction

In terms ofvalue, the global phosphatesmarket is anticipated to expand at a CAGR of ~4% from 2019to 2027.Phosphates are largely used for production of phosphate fertilizers and animalfeed products across the globe. Asia Pacific dominated the global phosphatesmarket in 2018. China is anticipated to bea leading exporter of phosphates across the globe during the forecast period.Ammonium phosphates and calcium phosphates are the most widely consumed phosphatesin developed as well as developing regions, in fertilizers and animal feed,respectively. The demand for phosphates in the industrial sector is lesscompared to fertilizers and animal feed, owing to availability of a largenumber of substitutes.

Availability of Substitutes forPhosphates to Hamper Demand for Phosphates

High costsof phosphate salts, such as calcium phosphates and its derivatives, have led toincrease in the usage of lower-cost substitutes such as phytase, which can beused as a means of controlling the overall animal feed cost. Furthermore,phytase can meet all functionalities of animal feed phosphates such asenhancing the digestive process, improving bone health, and promoting higherfeed intake. Thus, phytase helps in the physical development of livestock andit is considered a major substitute for animal feed phosphates. A large numberof substitutes are available for phosphate salts used in the industrialapplication. For instance, countries in Europe are planning to reduce the usageof sodium tripolyphosphate in detergents and switch to non-phosphate-basedalternatives such as zeolite. Several alternatives for phosphates are availablein the market. Phosphates perform a variety of functions. Alternativesubstances include chelating agents, surfactants, dispersant polymers, andenzymes. These provide the same functionality as that of phosphates. Theavailability of a large number of substitutes at a lower price is expected tohamper the demand for phosphates during the forecast period.

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Ammonium Phosphate to be LeadingProduct Type in Phosphates Market

In terms ofproduct, the global phosphates market has been segmented into ammoniumphosphate, calcium phosphate, potassium phosphate, sodium phosphate, magnesiumphosphate, single super phosphate, triple super phosphate, iron phosphate, andothers. Ammonium phosphate was a major product type segment of the globalphosphates market, accounting for more than 70% of themarket share in 2018. It wasfollowed by the calcium phosphate segment. Ammonium phosphate is used as aphosphate fertilizer. Increase in agricultural activities in order to meet thefood demand has propelled the demand for fertilizers. Phosphorus, along withnitrogen and potassium, is one of the three key nutrients that plants requireand it the major ingredient of phosphate fertilizers. Maintaining proper levelsof phosphorus helps a plant acquire and store energy as well as transfer itthroughout the plant. Also, phosphorus promotes the development of roots,flowers, and fruits. For gardeners who care about early harvests, phosphorushelps promote early maturity. The ammonium phosphate segment is followed by thecalcium phosphate segment. The calcium phosphate segment is expected to expandat a significant rate during the forecast period. Calcium phosphate is largelyused to produce animal feed products.  Calcium phosphate is an essentialnutrient in animal diet. It ensures optimal growth of animals; improves gutfunctionality and fertility; and enables bone development. Increase in thedemand for ready-to-eat meat products, owing to their high protein content isone of the key factors driving the global calcium phosphate market.

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Agriculture to be DominantApplication of Phosphates Market

Based onapplication, the global phosphates market has been segmented into building& construction, agriculture, animal feed, personal care,cleaners/detergents, food & beverages, pharmaceutical, and others. In termsof consumption, the agriculture segment held a major i.e. more than 70% shareof the global phosphates market in 2018. Thistrend is anticipated to continue throughout the forecast period. Theagriculture segment was followed by the animal feed segment, which accountedfor more than 10% share ofthe global phosphate market, in terms of consumption, in 2018. Increasein the consumption of phosphate-based fertilizers and growing popularity ofanimal feed, especially in Asia Pacific, are major factors driving the demandfor phosphates across the world.

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Asia Pacific to be Lucrative Regionof Global Phosphates Market

In terms ofconsumption, Asia Pacific dominated the global phosphates market in 2018. Themarket in the region is likely to expand at a significant pace from 2019 to2027. Increase in agricultural activities and rise in the demand for animalfeed products are major factors anticipated to fuel the demand for phosphatesin Asia Pacific during the forecast period. China and India are key countriesof the phosphates market in Asia Pacific. In terms of revenue, China is projectedto be an attractive market for phosphates in Asia Pacific during the forecastperiod, owing to abundance of phosphorus reserves, presence of manufacturers oflow-cost products, significant exports, and technological superiority of Chinaover other countries in the region

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Competition Landscape

The globalphosphates market was fragmented in 2018, withthe presence of a large number of global as well as local manufacturers. Majorplayers operating in the market include The Mosaic Company, OCP, ICL, NutrienLtd., Prayon Group, JPMC, PhosAgro Group of Companies, and Eurochem. Thesecompanies have significant presence across the globe. Key manufacturersoperating in the global phosphates market are The Mosaic Company, OCP, Israel Chemicals Ltd, Nutrien Ltd., PrayonGroup, Jordan Phosphate Mines Company PSCL (JPMC), PhosAgro Group of Companies,Eurochem, Kazphosphate LLC, Maa’den, Sinochem Yunlong Co. Ltd., YaraInternational, Phosphea, Aditya Birla Chemicals (Thailand), CoromandelInternational Limited, Chemische Fabrik Budenheim KG, Aliphos, and Sichuan BlueSword Chemical (Group) Co., Ltd.

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