The global Phosphoric Fertilizers Market is expected to reach USD 91.40 Billion by 2028 at a CAGR of 5.4%, according to a new report by Reports and Data. Phosphorous plays a major role in enhancing the development of roots and shoots and increasing the resistance of plants against drought-like weather situations. Modern farming is extensively dependent on phosphoric fertilizers to grow crops with adequate nutrients and increased yields. This is the primary factor propelling the market growth and is estimated to add to a significant expansion of the market over the projected years.
Phosphoric fertilizers radically enhance the crops’ quality and quantity, which has become imperative in order to cater to the escalating global requirement of food and food products. The fertilizers are predominantly applied to reduce the phosphorous inadequacy in the soil and maintain the amount of essential nutrients in the soil. Farmers are now combining the fertilizers and slow & controlled release technology to boost the efficiency of the farm while simultaneously reducing the loss of fertilizers during the process. This is predicted to significantly bolster the industry expansion in the estimated years.
Phosphorous pollution in the soil is a major concern related to the use of these phosphoric fertilizers and can potentially restrain market growth in the future. Phosphorous pollution affects a significant portion of the land and also has a significant side effect on the aqueous ecosystem. The escalating issues regarding the off-target impacts of phosphoric fertilizers on the environment and human population are projected to be major restraining factors of the market growth.
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Key Highlights from the Report:
- The decreasing existence of arable area in prominent geographical regions of the world and the upsurge in demand for food worldwide are the key factors projected to drive the industry’s progress.
- The diammonium phosphate segment is foreseen to register considerable progress in the estimated timeframe due to the elevated amount of phosphate present in the compound, the super soluble nature, and the increasing ability to boost the crop yield. The fertilizer is extensively used to increase the quality of crops such as wheat, fruits, vegetables, and others.
- The cereals segment is predicted to occupy the largest share of the market in the forecast years due to the soaring consumption of cereals as staple foods worldwide and a sudden spike in population growth. The fruits and vegetable segment is predicted to register significant growth due to the increasing demand for healthy and nutrition-rich foods.
- The Asia Pacific is foreseen to occupy a sizeable share in the market in the timeframe, accounting for over 62% share in the global market. The expanding agricultural sector, augmenting population growth, and the increasing availability of favorable soil and climate conditions are the major reasons for the market growth. Moreover, China is a a prominent producer of phosphoric fertilizers, which is predicted to add significant weight to the market’s progress.
- Key players in the industry include Eurochem Group AG, Yara International ASA, Agrium Inc., Israel Chemicals Ltd., CF Industries Holdings Inc., Potash Corp. of Saskatchewan Inc., PJSC PhosAgro, S.A OCP, The Mosaic Co., and Coromandel International Ltd.
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For the purpose of this study, Reports and Data has segmented the global Phosphoric Fertilizer Market based on Crop Type, Type, and Region:
Crop Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Cereals
Fruits & Vegetables
Pulses and Oil Seeds
Others
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Diammonium Phosphate
Monoammonium Phosphate
Single Superphosphate
Triple Superphosphate
Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/phosphoric-fertilizers-market
Table Of Content:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope & assumptions
1.3 List of data sources
Chapter 2 Executive Summary
Chapter 3 Global Phosphoric Fertilizers Market Variables, Trends, and Scope
3.1 Market segmentation and scope
3.2 Penetration and growth prospect mapping
3.3 Value chain analysis
3.4 Raw Material Analysis
3.4.1 Rock Phosphoric
3.4.2 Phosphoric acid
3.4.3 Ammonia
3.4.4 Sulphuric acid
3.5 Regulatory framework
3.5.1 Environmental Protection Agency (EPA)
3.5.2 Fertilizers Regulations (Canada)
3.5.3 EU Commission Regulation for Fertilizers
3.5.4 Food and Drug Administration
3.6 Phosphoric fertilizers market dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Limited arable land availability for agriculture
3.6.1.2 Increasing population and food demand
3.6.2 Market restraint analysis
3.6.2.1 Stringent rules & regulations
3.6.2.2 Price Volatility
3.7 Phosphoric fertilizers market- Porter’s analysis
3.8 Phosphoric fertilizers market- PESTEL analysis
Continue…
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