Phosphate Fertilizers Market Size $60.71 Billion By 2023 | CAGR 2.23%

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Phosphate Fertilizers Market

Industry Outlook and Trend Analysis

The Phosphate Fertilizer Market was worth USD 49.78 billion in 2014 and is expected to reach approximately USD 60.71 billion by 2023, while registering itself at a compound annual growth rate CAGR of 2.23% during the forecast period. Expanding worldwide populace, consumption of meat, and differentiated demand of food is foreseen to drive this market. Moreover, restricted availability of arable land is probably going to fuel the demand over the gauge time frame. Rising demand for grains and cereals because of quickly expanding populace over the globe is foreseen to help the development of phosphate fertilizers over the coming years. So as to take care of the taking off demand for food with regards to restricted accessibility of arable land, crop yield can be expanded with help of phosphate fertilizers.

Product Outlook and Trend Analysis 

Diammonium phosphate DAP fertilizers are a significant cropping fertilizer as it is a major source of phosphorus and nitrogen. It is generally used for a scope of yields in expansive section of land cultivating, sugarcane, dairy pastures, cereals, sowing pastures, horticultural crops, and fodder crops. DAP is a cost-effective source of nitrogen for crops. Regarding income, the monoammonium phosphate MAP compost portion was assessed at USD 10.3 billion in 2016 and is expected to grow significantly in the upcoming years.

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Application Outlook and Trend Analysis 

Cereals and grains framed the biggest application section in 2016 and this pattern is expected to proceed over the figure time frame. Existence of huge populace in nations, for example, India and China is foreseen to fuel interest for oats and grains with a specific end goal to take into account the taking off nourishment request in the area. This, thusly, will boost the interest for phosphate fertilizers over the estimate time frame.

Regional Outlook and Trend Analysis

Asia Pacific and Central and South America are giving plentiful chance to the worldwide market for phosphate manures and are foreseen to develop at an impressive rate over the gauge time frame. On the basis of volume, Asia Pacific held the biggest share of the overall industry in 2016, capturing 59.1% of the worldwide market. Existence of huge populace in nations, for example, China and India is expanding interest for broadened nourishment, which will in the long run support interest for phosphate fertilizers over the figure time frame. India is the second biggest purchaser and biggest merchant of diammonium phosphate DAP fertilizers.

Competitive Insights 

The market competition is extremely intensive and relatively integrated, with the existence of limited key players possessing a major revenue share in 2016. The leading players in the market are The Mosaic Company, Agrium, PhosAgro, PotashCorp, OCP Group and EuroChem Group AG.

The Phosphate Fertilizer Market is segmented as follows-

By Product:

Diammonium Phosphate DAP
Monoammonium Phosphate MAP
Superphosphate
Others

By Application:

Fruits and Vegetables
Cereals and Grains
Oilseeds
Others

By Region

North America

U.S
Canada
Mexico

Europe

Germany
France
UK
Italy
Spain
Rest of Europe

Asia-Pacific

Japan
China
Australia
India
South Korea
Rest of Asia Pacific

Rest of the World

Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others

Some of the key questions answered by the report are:

What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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