Phosphatic Fertilizers Market

Global Phosphatic Fertilizers Market Size (2023 to 2028)

The global phosphatic fertilizers market is estimated to grow from USD 66.10 billion in 2023 to USD 78.50 billion by 2028, growing at a CAGR of 3.5% from 2023 to 2028.

Global Phosphatic Fertilizers Market Share Insights:

• Based on type, the superphosphate segment dominated the market in 2022.
• Based on application, the fruits & vegetables segment had the largest share of the global market in 2022.
• Based on region, the Asia Pacific region is predicted to be the fastest-growing regional market in the worldwide market during the forecast period.

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.

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 ever-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.
 

REPORT COVERAGE:

This research report on the global phosphatic fertilizers market is segmented and sub-segmented into the following categories:

Global Phosphatic Fertilizer Market - By Type:

• Diammonium Phosphate (DAP)
• Monoammonium Phosphate (MAP)
• Superphosphate and Others

Global Phosphatic Fertilizer Market - By Application:

• Grains & Oilseeds
• Fruits & Vegetables and Others

The 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.

Global Phosphatic Fertilizer Market – By Region:

• 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 grow further 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 MARKET 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) are some of the noteworthy players in the global phosphatic fertilizer market.