The global phosphatic fertilizers market size is expected to reach USD 68.41 billion in 2024 to USD 81.25 billion by 2029, growing at a CAGR of 3.5% from 2024 to 2029.
The phosphate fertilizers are commercially mass-produced with the help of phosphate rock. Hence, the demand for phosphate rock is also predicted to witness significantly high growth in the coming years. Phosphate is a crucial element for the progression of various crops due to its capabilities in the growth of seeds and roots and for the development of plants. Modern farming is such that it relies highly on phosphate fertilizers because of its aptitude to maximize grain and forage manufacture.
The global demand for phosphate fertilizers is anticipated to observe a speedy growth due to the increasing demand for food and 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. Governments execute regulations on account of phosphate rock being a non-renewable resource. So there can be a few barriers because of its accessibility acting as a restraint for this market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
3.5% |
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Segments Covered |
By Type, Application, And Region |
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Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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) |
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.
The Asia Pacific is the fastest-growing market for phosphate fertilizers, with China being the largest producer. 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.
Major Key Players in the global phosphatic fertilizer market are 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).
Grains & Oilseeds
North America
Frequently Asked Questions
Phosphatic fertilizers provide essential phosphorus to plants, which is crucial for healthy root growth, energy transfer, and flower and fruit development. They can help increase crop yields and improve overall plant health.
Some key trends in the phosphatic fertilizers market include increasing demand for high-analysis phosphatic fertilizers, growing adoption of precision agriculture techniques, and developing innovative phosphatic fertilizer products.
Some challenges facing the phosphatic fertilizers market include environmental concerns related to phosphorus runoff and water pollution, volatility in raw material prices, and regulatory restrictions on fertilizer use.
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