The global phosphate fertilizers market size is expected to reach USD 78.06 billion by 2025, according to a new report by Grand View Research, Inc, registering a 5.1% CAGR therein. The increasing population and demand for diverse food products have been the key factors driving the market growth. In addition, the limited availability of ploughed land and increasing meat consumption all over the world is fueling the demand for phosphate fertilizers over the forecast period.
Phosphate is one of the three primary nutrients needed for plants to grow to their full potential. It is essential for normal plant growth, absorption of the sun’s energy, and converting it to useful plant compounds. Several phosphate fertilizers are used to meet the phosphorous (P) requirements of plants. It helps create strong roots and stems, provides resistance to disease, and increases productivity.
Phosphate is an important fertilizer input used in agricultural production. These include different types of fertilizers such as superphosphate, monoammonium phosphate (MAP), and diammonium phosphate (DAP) products. Fluctuating energy prices are the main cause of price volatility in phosphate fertilizers. Transportation costs, policy decisions, exchange rates, and other uncontrollable factors are other key factors affecting the global trading of fertilizer products.
The phosphate fertilizers market is consolidated in nature and comprises few global and regional players. Major players have strong distribution networks and different brands in the global market. Several key participants are conducting research and development activities to manufacture cost-effective and organic phosphate fertilizer products to meet the needs of the market.
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Further key findings from the report suggest:
The global phosphate fertilizers market was valued at USD 51.6 billion in 2016 and is expected to expand at a CAGR of 5.1% from 2017 to 2025
In terms of volume, cereals and grains emerged as the largest application segment in 2016 and is expected to expand at a CAGR of 3.2% between 2017 and 2025
Revenue generated by diammonium phosphate (DAP) fertilizer was valued at USD 15.5 billion in 2016 and is anticipated to witness significant growth over the forecast period
In terms of volume, the application of phosphate fertilizers in cereals and grains in India was pegged at 2,976.7 kilo tons in 2016 and is projected to rise at CAGR of 4.6% from 2017 to 2025
The phosphate fertilizers market in Asia Pacific is projected to experience significant growth over the forecast period owing to the increasing population and diversified demand for food, especially in the cereals and grains and fruits and vegetable segments. In terms of revenue, the APAC market is expected to expand at a CAGR of 5.5% between 2017 and 2025
Key players such as 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; and PJSC PhosAgro dominated the global market.
Grand View Research has segmented the global phosphate fertilizers market on the basis of product, application, and region:
Phosphate Fertilizers Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Monoammonium Phosphate (MAP)
Diammonium Phosphate (DAP)
Phosphate Fertilizers Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Cereals & Grains
Fruits & Vegetables
Phosphate Fertilizers Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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