Booming Phosphoric Fertilizer Market Globally with Key Players PJSC PhosAgro, Potash Corp. of Saskatchewan Inc, etc. – Bloomingprairieonline

The phosphorus fertilizer market is expected to reach USD 91.40 billion by 2028 at a CAGR of 5.4%, according to a new report from Reports and Data. The rapid growth of the market can be attributed to the growing demand for food, increasing consumption of meat, and decreasing availability of arable land across the globe. The growing need to improve the quality and yield of crops to meet the growing demand for food is also expected to enhance the market growth.

Phosphorus is a vital plant nutrient that is taken up by the roots and is responsible for the robust development of shoots and roots. Phosphorus fertilizers are widely used in modern agricultural practices to improve crop yield and increase soil nutrient content. The use of fertilizer combined with slow and controlled release technology has widened its adoption in precision agriculture. This is expected to further propel the growth of the market within the estimated timeframe. The growing need to overcome the phosphorus deficiency in the soil is also driving the demand for phosphorus fertilizers, thus contributing to the rapid expansion of the market.

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Key companies:

Yara International ASA, Eurochem Group AG, Israel Chemicals Ltd., PJSC PhosAgro, Coromandel International Ltd., Potash Corp. of Saskatchewan Inc., Agrium Inc., CF Industries Holdings Inc., SA OCP and The Mosaic Co.

However, price volatility of phosphorus fertilizers and excessive accumulation of fertilizers in the soil may restrain the market growth in the expected time frame. Rising concerns regarding the adverse effects of phosphorus fertilizers on human health and the environment are also expected to hamper the development of the market in the estimated time frame.

Major Points Covered in the Global Phosphorus Fertilizer Market Report:

  • Market coverage: This section of the report provides important details on key aspects of the market including major market segments, scope of product innovation, and macro and micro economic growth indicators. Further, the report segments the global phosphoric fertilizer market on the basis of product type, technology landscape, and range of applications.
  • Summary: In this section, the global market growth rate, competitive landscape, drivers and restraints, trends, limitations, and key market segments have been discussed.
  • Regional analysis: In this section, the latest report highlights the extensive global presence of the Phosphoric Fertilizers Market. This section offers key information on the latest regional market trends, including North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa.
  • Competitive landscape: This section of the report highlights key players in the global Phosphoric Fertilizer market. It further highlights the main products and services offered by these companies.
  • Manufacturers portfolios: This section includes detailed information about the product portfolio of each local and global manufacturer, their strengths and weaknesses, product catalog, value and production capacity, and other vital information.

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Main highlights of the report:

  • The cereals segment is expected to gain momentum in the coming years owing to the increase in population and growing demand for cereals globally. The use of phosphorus fertilizers to improve the quality and quantity of crops such as cereals further contributes to the growth of the market.
  • Diammonium phosphate segment is estimated to register a significant growth rate in the projected period due to its higher phosphorus content and remarkable soluble attributes.
  • North America is expected to account for a considerable share of the market in 2028, owing to decreasing availability of arable land, increasing population growth and growing understanding of the availability of products that can improve quality and the amount of crops. The ever-increasing need for nutrient-rich soils is also expected to contribute to regional growth.
  • Asia-Pacific is expected to witness lucrative growth in the coming years due to increasing agricultural activities, large population, presence of key players in the region, and China is the largest manufacturer and exporter of phosphorus fertilizers.

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For the purpose of this study, Reports and Data has segmented the global phosphoric fertilizer market on the basis of type, type and cultivation region:

Crop Type Outlook (Revenue, USD Billion; Volume, Kilotons; 2018-2028)

  • Cereals
  • Fruits and vegetables
  • Pulses and oilseeds
  • Others

Type Outlook (Revenue, USD Billion; Volume, Kilotons; 2018-2028)

  • diammonium phosphate
  • Monoammonium phosphate
  • Single Superphosphate
  • Triple superphosphate
  • Others

Regional Outlook (Revenue, USD Billion; Volume, Kilotons; 2018-2028)

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

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