Global Phosphate Fertilizers Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Phosphate Fertilizers Market Overview:

“The global Phosphate Fertilizers Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Phosphate is a nutrient required by plants for growth and development. It absorbs sun’s energy and convert it to useful plant compounds which are helpful for growth of the plant. Phosphorous is also used in chemical fertilizers and feed supplements to improve nutritional value of the soil. Phosphate fertilizer is used in production of various crops owing to its capabilities in production of seeds, roots, and also for plants maturity. Phosphate fertilizer are used in various applications such as starches, sugar, and oilseed. Commercial phosphate fertilizers are manufactured with the help of phosphate rock.

Rising population rate globally, increasing meat consumption, and diversified food demand are some major factors expected to drive growth of the global market over the forecast period. In addition, increasing demand for cereals and grains, growing demand for bio-based and micro nutrient fertilizers are other factors, which is expected to fuel growth of the target market. Furthermore, phosphorus is considered as an important raw fertilizer which helps to improve growth of the corps and implanting some properties such as getting mature faster, which is expected to support growth of this market in the near future.

However, stringent government regulations and policies and pricing volatility regarding phosphate fertilizers are major factors expected to restrain growth of the global market over the forecast period. In addition, environment concern associated with use of phosphorous, and high cost of production are other factors expected to hamper growth of the target market in the near future.

The market in Asia Pacific dominates the global market in terms of revenue over the forecast period, owing to increasing demand for crop and large production especially in China. India is the second-highest producer of phosphate fertilizers. The market in North America expected to witness significant growth over the forecast period.

Global phosphate fertilizers market segmentation:

Segmentation by product:

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

Segmentation by application:

• Cereals & Grains
• Oilseeds
• Fruits & Vegetables
• Others

Segmentation by region:

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