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Phosphatic Fertilizers Market Size to Reach USD 83.28 Billion by 2026; Growing Demand for Sustainable Crop Produce Will Aid Growth

April 03, 2020 | Agriculture

The global phosphatic fertilizers market size is projected to reach USD 83.28 billion by the end of 2026. The increasing demand for sustainable agriculture will create several growth opportunities for the companies operating in the market. According to a report published by Fortune Business Insights, titled “Phosphatic Fertilizers Market Size, Share & Industry Analysis, By Type (Diammonium Phosphate, Monoammonium Phosphate, Single Superphosphate, Triple Superphosphate, and Others), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 62.24 billion and will exhibit a CAGR of 3.8% during the forecast period, 2019-2026.


Phosphatic fertilizers are substances that are inclusive of phosphate, a material that is essential for the health of the root of the plant. The use of phosphatic fertilizers will lead to an increase in the overall efficiency of the root as well as the plant. The increasing demand for crops and crop produce across the world will create several growth opportunities for the companies operating in the market. The massive investments made in the research and development of newer phosphatic fertilizes will bode well for the market in them coming years. The presence of several large scale companies will constitute an increase in the overall market size in the foreseeable future.


ICL Introduces Add-ons to its Range of Sierrablen Plus


The report includes a few of the major industry developments of recent times and discusses their impact on the growth of the market. Due to the demand for sustainable as well as organic products, several companies are looking to introduce sustainable products with a bid to establishing a stronghold in the market. In February 2019, ICL announced that it will be introducing two new add-ons to its range of Sierrablen Plus. This technology uses a unique, recycled, and slow release of phosphorous, with the aim of increasing the crop quality. This step will not just help the company growth, but will also have a direct impact on the growth of the market in the coming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/phosphatic-fertilizers-market-102583


Increasing Global Demand for Agricultural Produce Will Aid Growth


The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors that have influenced the growth of the market, the increasing demand for crop and agricultural produce has made the highest impact. The constantly rising global population will create several opportunities for growth of the companies operating in the market. The increasing demand for sustainable crop production will emerge in favour of market growth. As a result, companies are looking to adopt advanced technologies that will cater to sustainable agricultural.


Fragmented Market Structure Opens the Doors for More M&As


The phosphatic fertilizers market is highly fragmented in nature. The increasing crop demand across the world has impelled several large scale companies to acquire medium and smaller enterprises. Accounting to the healthy market competition, companies are looking to adopt standout strategies that will attract more customers and subsequently help them establish a formidable stand in the market.


A few of the leading companies that are currently operating in the global market include:



  • Yara International ASA

  •  Israel Chemical Ltd.

  • The Mosaic Company

  • CF Industries Holdings, Inc.

  • Coromandel International Limited

  • The OCP Group

  • PhosAgro PJSC

  • Sociedad Química y Minera de Chile S.A.

  • Nutrien Ltd.

  • Koch Industries, Inc.


Further Report Findings:



  • The report analyzes the phosphatic fertilizers market trends across five major regions. The market in North America currently holds the highest market share. As of 2018, the market in North America was worth USD 7.54 billion and this value is projected to increase further in the coming years

  • Besides Asia Pacific, the market in Asia Pacific will witness considerable growth in the coming years driven by the emphasis on improving crop produce by emerging countries across this region.


Industry Developments:



  • September 2016 – ICL announced the launch of a new E-Max Release Technology, a system that will be used for the production of controlled release fertilizers.


The global phosphatic fertilizers market is segmented on the basis of:








































 ATTRIBUTR



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



 2015-2017



Unit



  Value (USD Billion)



Segmentation



By Type



  • Diammonium Phosphate (DAP)

  • Monoammonium Phosphate (MAP)

  • Single Superphosphate

  • Triple Superphosphate

  • Others



By Crop Type



  • Cereals

  • Pulses & Oilseeds

  • Fruits & Vegetables

  • Others



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, and Rest of Asia- Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of Middle East & Africa)


Phosphatic Fertilizers Market
  • PDF
  • 2018
  • 2015-2017
  • 165

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