Phosphate Fertilizer Market Size Worth $176.06 Billion By 2040

 Phosphate Fertilizers Industry Overview

The global phosphate fertilizer market size was valued at USD 61.63 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2040. This is attributed to the increased demand from agricultural producers for a fertilizer that provides necessary nutrients such as nitrogen and potassium. Agricultural products, such as fruits, vegetables, cereals, and pulses, are major application areas. The use of phosphorous fertilizers in various grains promotes root growth, improves crop quality, and enhances stalk strength. Phosphorus rocks are the most significant global sources of phosphorus. Globally, the U.S. is the leading producer and consumer of phosphate rocks, which are primarily used for the manufacturing of the product. The rising global demand for food is a significant factor driving the growth of the market. 

The global demand for phosphate is surging owing to the increasing world population resulting in rising food demand. The spike in costs of raw materials resulting from increased investments in new mine capacity expansions is expected to continue in the coming years as well.

Hence, rising prices of mining activities impact the costs of raw materials worldwide. Emerging economies around the world are now realizing the importance of using the product in agricultural production. Governments of major agrarian economies such as Brazil and India support the use of phosphate fertilizers to improve crop yields. This has encouraged farmers and local entrepreneurs in these countries to increase the consumption of fertilizer-grade phosphate.

Gather more insights about the market drivers, restrains and growth of the Global Phosphate Fertilizers market

 

The COVID-19 pandemic has significantly impacted various global businesses related to the agricultural sector, agricultural inputs, fertilizers, etc. As a majority of countries in Asia Pacific are agrarian economies, any slowdown in their agricultural activities or momentary pauses in their cross-border trade has a significant impact on the overall operations of agricultural companies and farmers operating in Asia Pacific.

This eventually leads to disruptions in the overall agricultural sector across all major countries of the region. In 2020, amid the COVID-19 pandemic, the prices of primary raw materials such as ammonia and sulfur increased sharply owing to supply restrictions and refinery curtailments.


Browse through Grand View Research's Agrochemicals & Fertilizers Industry Research Reports.

  • Biostimulants Market - The global biostimulants market size was valued at USD 2.6 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This is attributed to rising in demand for the product from various end-use applications such as seed, soil, and foliar treatment.

 

  • Biorationals Market - The global biorationals market size was valued at USD 946.2 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.32% from 2023 to 2030. This is attributed to the increasing usage of biorationals therapy in the crop production industry for boosting resistance against pests and insects due to their high effectiveness.

 


Phosphate Fertilizer Market Segmentation

Grand View Research has segmented the global phosphate fertilizer market report based on the product, application, and region:

Product Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)

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

Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)

  • Cereals & Grains
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others

Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Market Share Insights

  • August 2021: EuroChem Group signed an agreement to acquire a phosphate project of Serra do Salitren based in Brazil.


Key Companies profiled:

Some prominent players in the global phosphate fertilizer market include:

  • Eurochem Group AG
  • Agrium Inc.
  • Potash Corp. of Saskatchewan Inc.
  • Yara International ASA
  • CF Industries Holdings Inc.
  • Israel Chemicals Ltd.
  • Coromandel International Ltd.
  • The Mosaic Co.
  • A OCP
  • PJSC PhosAgro.

 

Order a free sample PDF of the Phosphate Fertilizers Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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