22nd
May 2019 – According
to Million Insights, market study on phosphatic fertilizer is foretold to
provide a robust support for industry players to lay a solid foundation for
their business growth. It includes a comprehensive evaluation of the market’s
growth status and risk. In addition, it provides detail market variables,
trends, key opportunities, new entrants & competitors.
Phosphate is an important element for plants maturation, root
development, and seed development. It is a major nutrient necessary for plants
to grow to their potential.it is produced by adding acid to pulverized or
ground phosphate rock.
Global phosphatic fertilizer market is expected
to grow at a significant CAGR in the upcoming period as the scope and its
applications are rising enormously across the globe.
The factors that are playing a major role in the growth of the market are
limited availability of arable land, growth in diversified food demand and
population, and the rising meat consumption boosts the demand for fertilizers.
However, the presence of substitutes like organic fertilizer industry and the
strict government policy against harmful chemicals may restrain overall market
growth in the years to come. Phosphatic fertilizer market is segmented based on
type, crop type, and region.
Superphosphate, diammonium phosphate, mono-ammonium phosphate, and other
types could be explored in phosphatic fertilizer in the forecast period.
Monoammonium phosphate sector accounted for the substantial market share of
phosphatic fertilizer in terms of revenue. The sector is estimated to grow at
the highest CAGR in the years to come. In addition, ammonium phosphate sector
is estimated to grow at the fastest pace in the years to come.
Based on crop type, fruit & vegetable, grain & oilseed, and other
crop types could classify phosphatic fertilizer market in the forecast period.
Grain & oilseed sector accounted for the substantial market share of
phosphatic fertilizer and is estimated to lead the overall market in the years
to come. The reason behind the overall market growth could be the presence of
huge populace in developing countries.
The market is segmented geographically into Americas (North America,
South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India,
China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar)
and Africa (South Africa).
Globally, Asia Pacific accounted for the substantial market share of
phosphatic fertilizer and is estimated to lead the overall market in the years
to come. The reason behind the overall market growth could be the presence of a
huge population in developing countries like China and India and the growing
demand for diversified food. India is the largest importer and major consumer of
diammonium phosphate (DAP) fertilizers. However, Central & South America
are estimated to grow at the highest CAGR in the forecast period.
The key players of phosphatic fertilizer market are PJSC PhosAgro,
Eurochem Group AG, S.A OCP, Agrium Inc., The Mosaic Co., and Potash Corp. of
Saskatchewan Inc., Coromandel International Ltd., Yara International ASA,
Israel Chemicals Ltd., and CF Industries Holdings Inc. These players are
concentrating on inorganic growth to sustain themselves amidst fierce competition.
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