Phosphatic Fertilizers Market

Phosphatic Fertilizers Market Size & Growth (2021- 2026):

The phosphatic Fertilizers Market was worth $61.7 billion in 2021 and estimated to be growing at a CAGR of 3.5%, to reach $73.28 billion by 2026.

The phosphate fertilizers are commercially mass-produced with the help of phosphate rock. Hence, the demand for phosphate rock is also predicted to witness very high growth in the coming years. Phosphate is a crucial element for the progression of various crops owed to its capabilities in the growth of seeds and roots as well as for the whole development of plants. The nature of modern farming is such that it is extremely reliant on phosphate fertilizers on account of its aptitude to maximize grain and forage manufacture.

Drivers & Restraints of the Phosphatic Fertilizers Market:

The global demand for phosphate fertilizers is anticipated to observe a speedy growth on account of the increasing demand for food as well as the forever growing world population. Increasing consumption of meat and milk has directed towards an upsurge in demand for forage production which has contributed to the growth in the phosphate fertilizer market. Regulations are executed by governments on account of phosphate rock being a non-renewable resource and so there can be a few barriers on account of its accessibility acting as a restraint for this market.

The Phosphatic Fertilizers Market is segmented and sub-segmented into the following categories:

• By Type

• Diammonium Phosphate (DAP)

• Monoammonium Phosphate (MAP)
• Superphosphate and Others

• By Application

• Grains & Oilseeds
• Fruits & Vegetables and Others

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 for phosphates in the body.

REPORT COVERAGE:

The Market is Geographically divided into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East and Africa

The Asia Pacific is the fastest-growing market for phosphate fertilizers with China being the largest producer of phosphate fertilizers, and the manufacturer is likely to further grow over the next few years due to the increasing population in the region and the growing demand for food. North America remains to be one of the largest providers of phosphate fertilizers.

Key Players:

• CF Industries Holdings Inc. (U.S.)
• OCP (Morocco)
• Agrium Inc., (Canada)
• Potash Corp. of Saskatchewan (Canada)
• Mosaic (U.S.)
• Eurochem (Russia)
• ICL (Israel)
• Yara International ASA (Norway)
• Coromandel International Ltd. (India)
• Phosagro (Russia)