The global phosphate fertilizer market is expected to grow at a significant CAGR over the forecast period. The market is expected to be influenced by growing demand for diversified food. Along with this, rising global population has led to an increase in the consumption of grains & cereals thereby stimulating the demand for phosphate fertilizers. However, stringent government regulations associated with limited use of fertilizers on land coupled with adverse environmental impacts of phosphate fertilizers are anticipated to limit the market growth over the forecast period.
Phosphate Fertilizer Market: Product Insights
On the basis of source, the industry is segmented into monoammonium phosphate, diammonium phosphate, and superphosphate among others. The market for diammonium phosphate is expected to occupy the highest share as it is a cost effective source of phosphorus & nitrogen. Moreover, growing use of the phosphate fertilizers in crops such as dairy pastures, sugarcane and horticultural crops is likely to boost the market.
The market for monoammonium phosphate is projected to grow at a high rate as it is water soluble and also possess a rich source of nitrogen & phosphate. Along with this, rising application of the product as a foliar fertilizer is projected to augment market growth.
Phosphate Fertilizer Market: Application Insights
Phosphate fertilizers find its application in cereals & grains, oilseeds and fruits & vegetables among others. The cereals & grains segment is anticipated to dominate the overall market owing to increasing demand for food grains globally. The growing global population is expected to lead to an increase in food demand which will further stimulate growth in phosphate fertilizers market.
The fruits & vegetables segment is also projected to grow significantly owing to rising use of phosphate fertilizers in root development, stem formation and fruiting. The increasing demand for fertilizer by farmers to improve absorption capacity of plants is also likely to boost the segment growth.
Phosphate Fertilizer Market: Regional Insights
Asia Pacific accounted for largest share of the market in 2016. This can be attributed to rise in population coupled with growing demand for diversified food in this region. Demand is expected to arise from countries such as India, Vietnam and Indonesia.
The market in Central and South America also recorded a considerable market share in 2016. Growing population and healthy dietary patterns especially from countries such as Columbia and Chile is anticipated to propel the demand in this region.
Phosphate Fertilizer Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Phosphate Fertilizer Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase phosphate fertilizers over the coming years. Some leading consumers of this market are Stemilt Growers, Archer Daniels Midland, and MFA Incorporated.
Phosphate Fertilizer Market: Market Share & Competitor Analysis
Some of the key players operating in the market include Eurochem Group AG, Agrium Inc, Potash Corp, Yara International ASA, CF Industries Holdings Inc., Israel Chemicals Ltd., The Mosaic Co., S.A OCP, and PJSC PhosAgro.
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