Europe Phosphatic Fertilizers Market was worth $11.72 billion in 2021 and estimated to be growing at a CAGR of 3.17%, to reach $13.7 billion by 2026.
European countries are aiming on diverting their agricultural harvest for bio-diesel production. Hence, increasing the demand for fertilizers in the region.Phosphatic Fertilizers market has progressed into a key agricultural contribution for recovering crop phosphate deficiencies. Phosphorus is a crucial macronutrient essential for finest crop production, with respect to the usage of fertilizer. It is attained from rock superphosphate, bone meal and fertilizer whereas rock phosphate is the raw material used to produce many of the commercial phosphate fertilizers in the market.
Drivers and Restraints of Europe Phosphatic Fertilizers Marke :
With an upsurge in use of bio-fuel the goods prices also increases accordingly. This fosters the farmers to employ phosphate fertilizers for growing production. The European agricultural policy has constantly supported the extension in production by endorsing the use of fertilizers. Fast growth in population demands greater food production. This is inspiring farmers to consume finest quality fertilizers to gain higher yields. Conversely, production charges of these fertilizers are a probable restraint to the growth of this market.
Europe Phosphatic Fertilizers Market - By Type:
Diammonium Phosphate (DAP)
Europe Phosphatic Fertilizers Market - By Application:
Superphosphate type is in great demand due to its advantages over other phosphate types. Phosphates are mainly used in fruits and vegetables to mark the need of phosphates in the body.
The Market is Geographically divided into:
European Phosphatic Fertilizers Market is dominated by Spain, followed by Germany and France. The demand for phosphate fertilizers is increased in the European region due to considerable rise in meat consumption.
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