Phosphate Fertilizers Market

SKU: DMAG1178 | Last Updated On: Oct 02 2022 | Available Formats

> Phosphate Fertilizers Market Expected to reach a high CAGR By 2029: DataM Intelligence

Phosphate Fertilizers Market is segmented By Application (Cereals and grains, Oilseeds, Fruits and vegetables, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Phosphate Fertilizers Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Dicamba Herbicide Market - Strategic Insights

Metrics

Details

Market CAGR

High

Segments Covered

By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Phosphate Fertilizers are a type of fertilizers, farmers and gardeners apply phosphate-based fertilizer to plants and soil to boost local phosphorus (P) levels. Young plants are especially vulnerable to deficient P levels, but almost every plant needs it to maintain healthy growth. Artificial phosphate fertilizer and manure or compost are used together to revitalize severely depleted soil. Commercial phosphate fertilizers are manufactured using phosphate rock. Approximately two-thirds of the world’s phosphate resources are derived from sedimentary and marine phosphate rock deposits. Ground rock phosphate has been used as a source of phosphorous for soils in the past. However, due to the low concentration of phosphorous in this native material, high transportation costs, and small crop responses, the usage of rock phosphate has reduced considerably in agriculture. On the other hand, the usage of phosphorus-based fertilizers has grown significantly. 

Market Dynamics 

The global Phosphate Fertilizers Market is primarily driven by the ever-rising population that has led to food security concerns and agricultural development. The increasing food shortage has resulted in heavy dependence on phosphate fertilizers globally.

The use of fertilizers and pesticides is extensive in the United States (US) agriculture, and crop production has been aided by these inputs for some time. As demand for crops like corn and soybeans grew, so did the land area dedicated for their production. Fertilizer and pesticide use increased alongside it. Nutrients essential for plant growth are supplied by fertilizers, and pesticides kill plants and animals which harm crops, helping boost production. Between 1985 and 2016, adjusted for inflation, US farm expenditures on fertilizers increased from $8.6 billion to $23.5 billion, and spending on chemicals swelled from $3.9 to $15.2 billion.

However, the phosphate fertilizers market such as P2O5 grade of phosphorus, cadmium pollution of Phosphate Fertilizers which is harmful to the human when exposed has hampered the growth of Phosphate Fertilizers market.

Segment Analysis

By application, the global Phosphate Fertilizers Market is segmented into cereals and grains, oilseeds, fruits and vegetables, and others. Cereals and grains application has a high dominance in this segment due to the high usage of Phosphate Fertilizers in farming for the cultivation of cereals and grains. 

Cereal and grains have been the principal component of the human diet for thousands of years and have played a major role in shaping human civilization. And the usage of cereals and grains for feeding cattle is increasing all around the world and hence has a huge demand for the cereals and grains.

Geographical Analysis

By geography, the global Water Treatment Aerators Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

APAC holds the largest market share for Phosphate Fertilizers due to high population growth and use for agrochemical products in the developing nation like China and India has high demands for Phosphate Fertilizers market due to the ever-increasing food demand considering the population growth and hence made APAC to hold most of the market share. However, North America is after APAC in terms of the market share of Phosphate Fertilizers Market, followed by Europe. 

Competitive Analysis 

Key players are adopting strategies such as Acquisition, mergers, joint ventures, and investment in R&D to stand out as strong competitors in the market. The Phosphate Fertilizers market is a fragmented market. The major players include CF Industries Holdings Inc., and Coromandel International Ltd, Eurochem Group AG, Guizhou Wengfu Group Co. Ltd, Israel Chemicals Ltd. Other key players in the market include Nutrien, Office Cherifien Des Phosphates (OCP), Phosagro, The Mosaic Company, and Yara International ASA. 

In January 2018, Mosaic Completes Acquisition of Vale Fertilizantes, the acquisition doubles the size of Mosaic global workforce. Integrating assets and 7,300 talented employees from Vale Fertilizantes – including five phosphate mines, one potash mine, and four chemical and fertilizer production facilities – greatly enhances Mosaic’s global growth strategy and expands their market access. With the additional 4.5 million tonnes of phosphate fertilizer production capacity, Mosaic’s global phosphate fertilizer production capacity is now 16.8 million tonnes. The acquisition also included Vale’s 40 percent economic interest in the Miski Mayo phosphate mine in Peru. As the operating partner, Mosaic’s interest in the joint venture is now 75 percent.

In January 2018, Nutrien Ltd. completed the merger of Agrium Inc. (Agrium) and Potash Corporation of Saskatchewan Inc. (PotashCorp), creating the world's premier provider of crop inputs and services. Nutrien has the largest crop nutrient production portfolio combined with an unparalleled global retail distribution network that includes more than 1,500 farm retail centers. With nearly 20,000 employees – and operations and investments in 14 countries – the company is committed to providing products and services that help growers optimize crop yields and their returns.

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FAQ

What is the Phosphate Fertilizers Market growth?

The market is growing at a High CAGR

What is Phosphate Fertilizers Market size in 2021

The Phosphate Fertilizers Market size was valued at USD YY million in 2021.

Who are the key players in Phosphate Fertilizers Market?

CF Industries Holdings Inc., and Coromandel International Ltd, Eurochem Group AG, Guizhou Wengfu Group Co. Ltd, Israel Chemicals Ltd.

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