Agricoltura
At 5.5 % CAGR, Phosphate Fertilizers Market is Expected to Reach USD 85.87 Billion to 2028 - Exclusive Report by Brandessence Market Research
The global phosphate fertilizers market has seen a consistent market which has seen consistent growth in the last few years and is also expected to see further growth in the coming years. the biggest reason behind this kind of growth in the market has been the decline in arable lands being available in the market. This phosphate fertilizers market growth is expected to sustain through the coming years as the world keeps becoming more urbanized.
One of the major phosphate fertilizers market size growth drivers is the continuous decline in the arable per capital land which is available. This has been happening more in the countries which are traditionally known for its farming such as India , China and the United States . The amount of per person arable land has declined as the population expands and therefore the crop yields should increase for meeting the demand for global food. The crop protection here becomes a major strategy which is adopted by many farmers for meeting the demand of global food. The use of phosphorus fertilizers on many crops has become a proven technology for meeting the demand of food products that is every growing.
There isn't much scope for the expansion of the agricultural land in the future too because of the robust urbanization and industrialization. The growth in demand for the meat and diverse products of food along with the increase in population create a great demand for the phosphorus fertilizers. There is growing potential in the regions which are emerging as economies for providing enough opportunity to the growth of the phosphate fertilizer market share to grow at a great rate in the years to come.
The demand all over the world for phosphate has surged due to the increasing population in the world which results in the rise of food demand. There is a spike in the cost of raw materials which is resulting from the increased investments in the new mine capacity has been expected to continue in the years to come too.
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The global phosphate fertilizers market is going to see many companies enter for tough competition. The companies such as Agrium Inc., Eurochem Group AG, Yara International ASA, Potash Corp. of Saskatchewan Inc., Israel Chemicals Ltd., CF Industries Holdings Inc., The Mosaic Co., Coromandel International Ltd., and PJSC PhosAgro S.A OCP are all engaged in making their supply chains better now that the pandemic is over and making it easier for them to reach global markets.
The rise in prices of the mining activities impacts the worldwide cost of raw materials. The emerging economies all over the world have now realized the importance of this product in the production. Governments of the biggest agrarian economies like Brazil and India have been making a push to use the phosphate fertilizers for improving the yields of the crop. This is encouraging farmers and many local entrepreneurs in all of these countries to increase the fertilizer-grade consumption.
The pandemic saw a major impact on the business all over the world particularly in the agricultural sector. There was a big pause button which has hit on the trade between countries and that brought about a major slowdown and the agricultural activities. The cross-border trade makes up for a big portion of the trade.
This has eventually led to the disruptions spreading to the whole of the agriculture sector across major countries in the region. The prices of raw materials also rose significantly. The countries like China and India saw ammonia and sulfur prices rise. This was due to the restrictions that were imposed to curb the spread of the virus. The global phosphate fertilizers market is expected to get back to normal once the world opens up. It is expected that the markets will soon reach pre pandemic levels.
In terms of segmentation, monoammonium phosphate segment has been accounting for the biggest growth and there is high level of phosphorous present in it which provides the major source of the phosphate fertilizers as it is an important source of the phosphorous and nitrogen. In the applications of agriculture., this has been used in the form of the granular fertilizer. It may be used directly or as a raw material for the manufacturing of many different complex fertilizers like nitrogen phosphate and the potassium because of their water solubility.
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Triple superphosphate has become the second biggest segment as it accounted for a decent share of revenue too. This is one of the higher concentrated phosphorus fertilizers which contain diphorous pentoxide. There is an increase in the demand for this from major sectors all over the world and that contributes to the growth of the TSP. The application of the cereals and grains has been accounting for the biggest share in revenue. the phosphate fertilizer uses in the cereals and grains is most significant and all over the world, it is used in the growth of the population which requires a higher demand for the phosphorous fertilizers in the developing, emerging and agrarian economies all over the world.
The global phosphate fertilizers market is dependent on the region of Asia for its growth. This can be attributed to the growth of this market in countries like India and China . The world depends on these countries for its cereals. Particularly in India , it is the backbone of their economy and it is going to see a great amount of growth in the coming years too with favorable government policies. The second biggest region in this market in terms of growth is going to be Europe where there is great amount of awareness about agriculture and people are focusing on the different modes of operations for the global phosphate fertilizers market. The market has been growing with some focus being put by the governments. The market is also going to find a significant share in Latin America .
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