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Global Phosphate Fertilizers Market – Industry Trends and Forecast to 2031

Agriculture And Animal Feed

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Global Phosphate Fertilizers Market – Industry Trends and Forecast to 2031

  • Agriculture And Animal Feed
  • Upcoming Report
  • Jul 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Phosphate Fertilizers Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 67.04 Billion
Diagram Market Size (Forecast Year) USD 93.89 Billion
Diagram CAGR %

Major Markets Players

  • ICL (Israel)
  • CF Industries Holdings
  • Inc. (U.S.)
  • Coromandel International Ltd. (India)
  • Nutrien Ltd. (Canada)

Global Phosphate Fertilizers Market, By Product (Monoammonium Phosphate, Diammonium Phosphate, Single Superphosphate (SSP), Triple Superphosphate (TSP), and Others), Application (Cereals and Grains, Oilseeds, Fruits and Vegetables, and Others) – Industry Trends and Forecast to 2031.

Phosphate Fertilizers Market

Phosphate Fertilizers Market Analysis and Size

In crop production, phosphate fertilizers are essential for enhancing soil fertility and promoting robust plant growth. Phosphorus, a key nutrient in these fertilizers, is crucial for root development, energy transfer, and the formation of DNA and RNA in plants. By improving root systems, phosphate fertilizers help plants absorb water and nutrients more efficiently, leading to increased crop yields and quality. They are widely used for growing cereals, fruits, vegetables, and oilseeds, playing a vital role in meeting the rising global food demand and supporting sustainable agricultural practices.

The global phosphate fertilizers market size was valued at USD 67.04 billion in 2023 and is projected to reach USD 93.89 billion by 2031, with a CAGR of 4.30% during the forecast period of 2024 to 2031.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Monoammonium Phosphate, Diammonium Phosphate, Superphosphate, Single Superphosphate (SSP), Triple Superphosphate (TSP), and Others), Application (Cereals and Grains, Oilseeds, Fruits and Vegetables, and Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

ICL (Israel), CF Industries Holdings, Inc. (U.S.), Coromandel International Ltd. (India), Nutrien Ltd. (Canada), PhosAgro Group(Russia), Yara International ASA (Norway), EuroChem Group (Switzerland), Mosaic (U.S.), OCP (Morocco), Ma'aden (Saudi Arabia), California Organic Fertilizers Inc (U.S.), Hubei Xingfa Chemicals Group Co., Ltd. (China), QAFCO | QATAR FERTILISER COMPANY  (Qatar), Kazphosphate LLP (Kazakhstan), Jordan Phosphate Mines Company (Jordan), Haifa Group (Israel), J.R. Simplot Company (U.S.), Itafos (U.S.)

Market Opportunities

  • Increasing Emphasis on Integrated Pest Management due to Rising Demand for Natural Crop Protection Solutions    
  • Increasing Strategic Partnerships Fosters Collaboration between Key Stakeholders

Market Definition

Phosphate fertilizers are a type of mineral fertilizer that contain phosphorus, an essential nutrient for plant growth. They are used to enhance soil fertility, promoting root development, flower and fruit production, and overall plant health. Common types include superphosphate, triple superphosphate, and monoammonium phosphate.

Phosphate Fertilizers Market Dynamics

Drivers

  • Growing Global Population

As the population rises, more agricultural production is required to ensure food security. High phosphate fertilizers enhances soil fertility and boosting crop yields, making them indispensable in meeting the heightened food demand. Additionally, urbanization and the reduction of arable land heighten the need for efficient and productive agricultural practices, further driving the reliance on phosphate fertilizers to maximize output from limited farmland.

  • Growing Technological Advancements

Innovations in fertilizer formulations, such as slow-release and controlled-release fertilizers, enhance nutrient availability and reduce environmental impact. Precision agriculture technologies, including soil testing and GPS-guided application systems, optimize the use of phosphate fertilizers, ensuring efficient and targeted nutrient delivery. These advancements improve crop yields, reduce waste, and lower costs for farmers, thereby increasing the adoption of phosphate fertilizers. Additionally, research and development in sustainable practices and eco-friendly fertilizers are further propelling market growth.

Opportunities

  • Growing Supportive Agricultural Policies

Growing supportive agricultural policies provides financial incentives, subsidies, and technical assistance to farmers. Governments around the world implement these policies to boost agricultural productivity and ensure food security. Such support makes fertilizers more affordable and accessible, encouraging farmers to adopt advanced fertilization practices. Additionally, research and development initiatives funded by governments help in the innovation of more efficient and environmentally friendly phosphate fertilizers, further propelling market growth. These policies create a favorable environment for the expansion of the phosphate fertilizers market, ensuring sustainable agricultural development.

  • High Dietary Changes

Consumer preferences towards more diverse, nutritious diets that include increased consumption of fruits, vegetables, and protein-rich foods like meat and dairy. These dietary changes drive higher demand for agricultural products that require phosphorus-rich fertilizers for optimal growth and yield. Phosphate fertilizers play a crucial role in enhancing soil fertility and supporting the nutrient needs of crops that contribute to these dietary patterns. As populations grow and dietary expectations rise, the agricultural sector must meet these demands sustainably, thereby increasing the reliance on phosphate fertilizers to ensure adequate food production globally.

Restraints/Challenges

  • Environmental Concerns

Excessive application or improper management of phosphate fertilizers can lead to nutrient runoff into water bodies, causing eutrophication. This phenomenon promotes the growth of algae, which depletes oxygen levels in water, harming aquatic life and ecosystems. Additionally, phosphorus runoff can contaminate drinking water sources, posing risks to human health. Regulatory bodies are increasingly imposing restrictions on phosphate fertilizer use and advocating for sustainable agricultural practices to mitigate these environmental risks, which adds compliance costs and operational challenges for manufacturers and farmers alike.

  • Price Volatility in Raw Materials

Price volatility in raw materials, such as phosphate rock and sulfur, significantly impacts the phosphate fertilizers market. Fluctuations in these raw material prices can lead to unstable production costs for fertilizer manufacturers, affecting pricing strategies and profit margins. This volatility also creates uncertainty in supply chain management and long-term planning for both producers and farmers. Moreover, high raw material costs may deter investment in new production capacities, constraining market growth and supply availability during periods of price spikes.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In 2023, Moroccan phosphates and fertilizers producer OCP supplied India with 1.7 million tonnes of phosphate-based fertilizers. This includes 700,000 tonnes of triple super phosphate (TSP), a nitrogen-free fertilizer, and 1 million tonnes of Diammonium phosphate (DAP). This significant supply underscores OCP's role as a major global supplier of essential fertilizers, supporting India's agricultural sector's nutrient requirements and enhancing crop productivity
  • In 2022, PhosAgro announced the establishment of PhosAgro-Sibir, a regional business subsidiary focused on supplying mineral fertilizers directly to agricultural farmers in the Siberian and Far Eastern Federal Districts of Russia. This initiative aims to improve local access to essential agricultural inputs, promoting sustainable farming practices and enhancing crop yields in these regions
  • In 2021, Ma’aden completed the utilities commissioning of a US$ 900 million ammonia plant in Ras Al-Khair industrial City, marking the first phase of its US$ 6.4 billion ‘Phosphate Fertilizer 3’ expansion project. This strategic investment aims to expand Ma’aden’s phosphate fertilizer portfolio, bolstering Saudi Arabia's domestic fertilizer production capacity and supporting the country's agricultural sector
  • In 2020, PhosAgro-Region, a subsidiary of PhosAgro, collaborated with Exact Farming to develop digital services for Russian users of PhosAgro's mineral fertilizers. This collaboration focuses on leveraging technology to provide precision farming solutions, optimizing fertilizer applications and enhancing agricultural productivity across Russia

Phosphate Fertilizers Market Scope

The market is segmented on the basis of product and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

Product

  • Monoammonium Phosphate
  • Diammonium Phosphate
  • Superphosphate
  • Single Superphosphate (SSP)
  • Triple Superphosphate (TSP)
  • Others

Application

  • Cereals and Grains
  • Oilseeds
  • Fruits and Vegetables
  • Others

Phosphate Fertilizers Market Regional Analysis/Insights

The market is analysed and market size, volume information is provided by country, product, and application as referenced above.       

The countries covered in the market report are the U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC), Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA).

Asia-Pacific dominates the market due to its rapidly growing population, which drives increased agricultural demand. The presence of major industry players in the region also contributes to market growth by enhancing production and distribution capabilities. This combination of high demand and strong industry presence is expected to sustain and boost the market's growth in the coming years.

South America is expected to experience notable growth in the market due to an increasing population. This demographic trend, coupled with shifting dietary patterns, will drive higher demand for agricultural products. Consequently, the need for phosphate fertilizers will rise to support enhanced agricultural productivity, fostering market growth in the region over the coming years.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Phosphate Fertilizers Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to soil stabilization market.

Some of the major players operating in the market are:

  • ICL (Israel)
  • CF Industries Holdings, Inc. (U.S.)
  • Coromandel International Ltd. (India)
  • Nutrien Ltd. (Canada)
  • PhosAgro Group(Russia)
  • Yara International ASA (Norway)
  • EuroChem Group (Switzerland)
  • Mosaic (U.S.)
  • OCP (Morocco)
  • Ma'aden (Saudi Arabia)
  • California Organic Fertilizers Inc (U.S.)
  • Hubei Xingfa Chemicals Group Co., Ltd. (China)
  • QAFCO | QATAR FERTILISER COMPANY  (Qatar)
  • Kazphosphate LLP (Kazakhstan)
  • Jordan Phosphate Mines Company (Jordan)
  • Haifa Group (Israel)
  • J.R. Simplot Company (U.S.)
  • Itafos (U.S.)


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FREQUENTLY ASK QUESTIONS

Product, and application are the factors on which the phosphate fertilizers market research is based.
Asia-Pacific dominates the phosphate fertilizers market due to the rise in the population around the world.
Major companies in the phosphate fertilizers market are Agrium Inc, Israel Chemicals Limited, CF Industries Holdings Inc., Coromandel International Ltd., Nutrien Ltd., PhosAgro, Yara International ASA, EuroChem Group A, The Mosaic Company, and OCP S.A., among others.
The rise in the population and growing need for diverse food are the growth drivers of the phosphate fertilizers market.
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