Global phosphate fertilizers market size was estimated at over 42 million tons in 2015 and is likely to exceed 51 million tons by 2023, growing at a CAGR of more than 2.1%. The market was valued at over USD 55 billion in 2014 and is anticipated to register more than USD 70 billion by 2023, with estimated gains of more than 3%.
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Approximately, 65% of the world’s resources are outsourced from marine and sedimentary rock deposits, and around 90% is used for food production. The key fertilizers include DAP, MAP and superphosphates. Increasing food consumption coupled with rising population, particularly in Asia Pacific has encouraged farmers to use these fertilizers.
This fertilizer is a key element for the production of various crops due to its capabilities in production of seeds and roots as well as for the plants maturity. These are used in applications such as starches, sugar and oilseed. It also helps in the elimination of any kind of soil deficiency.
These fertilizers help plants to regulate protein synthesis essential for plant growth. It is an essential micronutrient for the optimal production, being an element of nucleic acid structure which helps in development of crop. Scarcity of phosphorous in rock phosphate, increasing transportation costs and less yield has discouraged its usage in agriculture.
The global phosphate fertilizers market share is fragmented and companies compete on the basis services provided to the clients. Key participants in market include Agrium, Coromandel International, Eurochem, Mosaic, OCP, ICL, Yara International, and CF Industries Holdings, Potash Corp. of Saskatchewan, and Phosagro.
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This latest Phosphate Fertilizers market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Phosphate Fertilizers industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report “Phosphate Fertilizers Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.”in detail along with the table of contents:
Key Insights in this Report
- Phosphate Fertilizers market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Phosphate Fertilizers market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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