Global Phosphate Fertilizers Market is valued at USD 59.03 Billion in 2021 and expected to reach USD 85.87 Billion by 2028 with the CAGR of 5.5% over the forecast period. In order to meet the increasing requirement demand for food in keeping with restricted accessibility of arable land, crop yield can be elevated with assistance of phosphate fertilizers.
Phosphate rock is the most mined in huge open pit mines; distinguished deposits are in China, Morocco, South America, and Florida. Most phosphatic fertilizers arrived from phosphate rock, a mineral mined in huge amount from locations globally in millions of tons. This mineral offers phosphorus required by all plants for strong development. This phosphate rock is used occasionally as a fertilizer without any additional processing, particularly in acid soils.
Rock phosphate fertilizers are turning out to be less common, as the raw rock offers comparatively low phosphorous for its weight, and price for transportation make it more costly over refined phosphate fertilizers. The procedure by which phosphate rock is transformed into phosphate fertilizers comprises the sulfuric acid treatment; the result is dubbed as superphosphate. This reaction with sulfuric acid attracts the phosphates from the raw ore and generates a form soluble in water. This is combined with water to make a number of same fertilizer compounds in a concerted liquid form, which is simple to apply to crops and fields.
By product, the global phosphate fertilizers market is divided into monoammonium phosphate (MAP), diammonium phosphate (DAP), superphosphate, and others. By application, the global phosphate fertilizers market is divided into cereals & grains, oilseeds, fruits & vegetables, and others.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 59.03 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 85.87 Billion|
|Tables, Charts & Figures:||175|
|Phosphate Fertilizers Companies||Agrium Inc., Eurochem Group AG, Yara International ASA, Potash Corp. of Saskatchewan Inc., Israel Chemicals Ltd., CF Industries Holdings Inc., The, Mosaic Co., Coromandel International Ltd, PJSC PhosAgro, S.A OCP. & Others|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
The major players included in the global phosphate fertilizers market forecast are,
Increasing Requirement For Grains And Cereals Due To Quickly Increasing Population All Over The Globe Is Predicted To Power The Global Market
Increasing requirement for grains and cereals due to quickly increasing population all over the globe is predicted to power the phosphate fertilizers market growth over the forecast period. In order to meet the increasing requirement demand for food in keeping with restricted accessibility of arable land, crop yield can be elevated with assistance of phosphate fertilizers. Phosphate is a major nutrient required by plants to develop to their max potential. It is important to normal plant development, particularly for the sun’s energy absorption and converting it to helpful plant compounds. Different phosphate fertilizers are employed to suffice the phosphorous (P) need in plants. It assists make strong stems, roots, a productive plant, and resistance to disease.
Employment of phosphorous in feed supplements and chemical fertilizers improves the nutrition of the soil. Employment of fertilizers in agriculture is one of the major land management methods that substantially elevate soil fertility and crop yield. As an essential component of “green revolution,” phosphate fertilizers have added significantly in reducing hunger and increasing agricultural productivity worldwide. Farmers treat their lands with phosphorus fertilizers to elevate their crops’ yield. On the other hand, a huge amount of this resource is lost from farm fields via soil runoff and erosion and down-swirling toilets.
Central & South America And Asia Pacific Are Offering Plenty Opportunity To The Global Phosphate Fertilizers Market
Central & South America and Asia Pacific are offering plenty opportunity to the global phosphate fertilizers market and are predicted to develop at a substantial rate over the coming period. By volume, Asia Pacific had the biggest share of market. Attendance of huge population in nation such as India and China is rising the requirement for diversified food, which will ultimately power requirement for phosphate fertilizers over the coming period. India is the next biggest consumer and importer of DAP (diammonium phosphate) fertilizers.
The Middle East and Africa
Key Benefits of Global Phosphate Fertilizers Market Report–