The global single superphosphate (SSP) market was calculated US$ 2.8 Bn in 2019 in terms of value and is expected to reach 4.36 Bn by 2027, at a CAGR of 4.2% during a forecast period.
Global Single Superphosphate (SSP) Market
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Requirement of healthy crop production with high yield using micronutrient-based fertilizers is estimated to cover 50% of single superphosphate (SSP) market growth.
global single superphosphate (SSP) market Introduction:
Single superphosphate poised of two main compound which is gypsum and monocalcium and forms mineral-based fertilizer for further application. It is the foremost enricher accountable for development of the plant nutrients industry. SSP has good water solubility and hence it is a rich source of secondary nutrients like calcium and sulphur.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
global single superphosphate (SSP) market Drivers and Restraints:
Global Interest for material is rising because it is offering numerous facility to the farmers in terms of wide production of plant by providing nutrients during the entire growing-season and is helping fertilizers market in various terms to collect the attention from investors and will help global single superphosphate (SSP) market to grow. Furthermore, advances in chemical engineering and science are offering essential to ensure high crop yield and quality. Single Superphosphate (SSP) are highly getting adopted by nutrients sectors, as it helps to achieve effective nutrients management tools for food as well as non-food crops, will drive the market growth in the long run. Additionally, rapid growth in the research and development across the globe will boost the market demand in the coming years. It helps to intensify the organic content of soil and further contributes nutrients for microorganisms present in the soil, have benefit in reinstating chemical and physical properties of the soil and these contribute to the growth of the market.
Speedy growth in crop disease due to unfavourable environment or process of harvesting and availability of fertile land across the globe is fuelling the global single superphosphate market growth.
There is a constant requirement to boost the agricultural output across the globe and this will progressively shift attention towards good quality fertilizers to improve the land and soil properties to increase the productivity thus, expected to anticipate beneficial impact on the global single superphosphate (SSP) market.
However, presence of substitute in the market such as triple based fertilizer, NPK fertilizer, sulphur-based fertilizers and so on is expected to restrain the market growth frame.
Single Superphosphate (SSP) Market Segment analysis:
By application segment, agriculture sector market size established more than XX% of the total market share in 2019.Though demand for SSP documented as one of the richest source of nutrient for the growing plants and growth in the agriculture, industrial sector is on another level in terms of market growth in the developing economies. The producers are enduring research efforts to develop better and cheaper harvesting and impregnating materials to reduce the overall cost and boost the interest towards acceptance of this technology. This segment will witness compounded annual growth rate of around X.X% from 2019 to 2027. Growing agriculture division in terms of research and development for the production of crop is projected to show major demand in near future.
Single Superphosphate (SSP) Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the single superphosphate (SSP) market and is expected to grow at a CAGR of X.35 % during the forecast period owing to the presence of phenomenal key players and demand of food product in the region. Developing regions like India, China, and Japan are considered as the major contributors for the Single Superphosphate (SSP) market growth in the Asia Pacific region because government policies of this region and large subsidies in certain countries up to 100% for marginal farmers, provided on fertilizers are the major factors generating the growth of this market in the Asia Pacific region. In 2019 market size was recorded US$ XX Bn, however in India, market size was valued XX Bn and expected to increase by US$ XX Bn in the coming years.
Also, North America dominates the overall market with a share of more than 38%. As, North America mainly contribute to the whole SSP demand resulting to its broad application in tobacco, cotton, vegetables, and fruits production. They play major role in the subtropical and the U.S. Hence, the U.S. has been acknowledged as the leading consumer of single superphosphate (SSP) in North America, owing to the high cultivation of crops.
The objective of the report is to present a comprehensive analysis of the Global Single Superphosphate (SSP) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Single Superphosphate (SSP) Market dynamics, structure by analysing the market segments and project the Global Single Superphosphate (SSP) Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Single Superphosphate (SSP) Market make the report investor’s guide.
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Global Single Superphosphate (SSP) Market, By Form
• Powder
• Granules
Global Single Superphosphate (SSP) Market, By Application
• Horticultural
• Agriculture
• Pasture
• Others
Global Single Superphosphate (SSP) Market, By Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa
Key Players Operating the Single Superphosphate (SSP) Market,
• Madhya Bharat Agro Products Limited
• Potash Corporation of Saskatchewan
• CF Industries Holdings Inc
• Coromandel International Ltd
• Yara International ASA
• Kemyan Yanbu for Industry
• Jubilant Industries Ltd
• The Mosaic Company
• PCC Group
• Aarti Industries Ltd
• Krishna Phos Chem
• Bohra Industries Ltd
• Phosagro
• Eurochem
• Richgro
• Agrium Inc
• Mosaic
• OCP
• ICL
• GNFC
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