Overview and Scope
Phosphate fertilizers are chemical fertilizers used for the growth and development of plants by providing nutrients. Phosphate fertilizer are produced using phosphatic materials and mixing other phosphatic materials.
Sizing and Forecast
The phosphate fertilizer market size has grown strongly in recent years. It will grow from $47.11 billion in 2023 to $51.47 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rise in demand for agricultural products, increased demand for organic food and rising demand for a vegan diet..
The phosphate fertilizer market size is expected to see strong growth in the next few years. It will grow to $73.04 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing population, rapid increase in the exports of phosphates, growing focus on innovative farming techniques and government initiatives.. Major trends in the forecast period include product innovations, strategic partnerships and collaborations, increasing investments, focus on new fertilizer products and crystal green granular phosphate fertilizers..
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Segmentation & Regional Insights
The phosphate fertilizer market covered in this report is segmented –
1) By Type: Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Superphosphate, Other Types
2) By Distribution Channel: Online, Offline
3) By Application: Cereals And Grains, Oilseeds, Fruits & Vegetables, Other Applications
Asia-Pacific was the largest region in the phosphate fertilizer market in 2023. North America was the second-largest region in the global phosphate fertilizer market. The regions covered in the phosphate fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the insecticide market. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production, which is expected to increase the demand for herbicides. To meet the food demand that may rise from 59% to 98%, farmers have to increase agricultural productivity through fertilizers and advanced technologies in farming. Thus, the increase in demand for food for the growing population will promote the growth of the insecticide market.
Key Industry Players
Major companies operating in the phosphate fertilizer market report are OCP SA, The Mosaic Co, Phosagro, Eurochem Group AG, Coromandel International Ltd., Israel Chemicals Ltd., Nutrien Ltd., Maaden – Saudi Arabian Mining Co., Jordan Phosphate Mines Co. PLC, Hubei Xingfa Chemicals Group Co. Ltd., Rama Phosphates Ltd., Shiva Global Agro Industries Ltd., Rastriya Chemicals & Fertilizers Limited, Sinofert, NGI Fertilizer Ltd., Koch Fertilizer Australia Pty Ltd., Sikko Industries Ltd., Fertoz, Nippon Jordan Fertilizer Company, Taki Chemical Co Ltd., China BlueChemical Ltd., CF Industries, Borealis, Fertilore, Sulzer, ICL Fertilizers, HELM IBÉRICA S. A, Casale SA, Uralchem, Acron, UralKali, Yara Canada Inc., Verdesian, Wilbur-Ellis Company LLC, K+S Potash Canada, Agrium Inc., ArrMaz, Bunge Argentina, Itafos, SGS Argentina, CMOC Brazil, GÜBRETAS, Toros Agri, ICL Group Ltd., Saudi United Fertilizer Co, Koch Ag & Energy Solutions (Koch), Misr Phosphate Company, El Wady for Phosphate Industries and Fertilizers (WAPHCO), Foskor
The phosphate fertilizer market report table of contents includes:
1. Executive Summary
2. Phosphate Fertilizer Market Characteristics
3. Phosphate Fertilizer Market Trends And Strategies
4. Phosphate Fertilizer Market – Macro Economic Scenario
5. Global Phosphate Fertilizer Market Size and Growth
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31. Phosphate Fertilizer Market Other Major And Innovative Companies
32. Global Phosphate Fertilizer Market Competitive Benchmarking
33. Global Phosphate Fertilizer Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Phosphate Fertilizer Market
35. Phosphate Fertilizer Market Future Outlook and Potential Analysis
36.Appendix
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