Global Phosphate Fertilizer Market – Industry Analysis and Forecast (2019-2027)
- POSTED ON Friday, June 4, 2021
Global Phosphate Fertilizer Market was valued at US$ 55.1 Bn in 2019 and is expected to reach US$ 83.9 Bn by 2026, at a CAGR of 5.4% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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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, the 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 the near future to emerging segment in the phosphate fertilizer market.
The report study has analyzed the revenue impact of the 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.
Farmers and gardeners have used phosphate-based fertilizer to soil and plants to boost local phosphorus levels. 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 fertilizer, bone metal, and rock phosphate. Rock phosphate is a 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 a 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 has great possibility for the 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 runs 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, the cereal & grain segment dominate the phosphate fertilizer market, owing to the rapidly increasing population and the necessity of high production of food. The presence of a large population in the Asia Pacific region anticipated fueling 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 are 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. The presence of a large population in countries such as India and China is anticipated to fuel the demand for phosphate fertilizers in order to the soaring food demand in the region. After Asia-Pacific, the South American regions have great possibilities for the future growth of the phosphate fertilizers market.
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Global Phosphate Fertilizer Market, by Type
• Diammonium Phosphate• Monoammonium Phosphate• Superphosphate• Single Superphosphate• Triple Superphosphate• Calcium PhosphateGlobal Phosphate Fertilizer Market by Application
• Cereals & Grains• Oil Seeds• Fruits & VegetablesGlobal Phosphate Fertilizer Market by Region
• North America• Europe• Asia-Pacific• Middle East & Africa• South AmericaKey Players Operating in the 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• The Mosaic Company• ICL• Phosagro• Israel Chemicals Limited• Nutrien Ltd• Koch Industries, Inc.
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