Phosphorus and Derivatives Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Phosphorus and Derivatives Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Phosphorus and Derivatives Market

The phosphorus and derivatives market size were valued at USD 62.78 billion in 2020, and the market is now projected to grow from USD 65.13 billion in 2021 to USD 85.01 billion by 2028, exhibiting a CAGR of 3.9% during the forecast period of 2021-2028.

The COVID-19 has slowed the growth of the phosphorus and derivatives market and created delivery challenges, stoppages in production due to labor shortages, and limitations of accessing fertilizers. Hence, while revealing weaker seasonality demand and low input costs, prices dropped to 8.5% in May 2020. Measures were taken by governments to support transport of agriculture products which in turn hindered phosphate fertilizers firms from efficiently getting back to operation, thus experiencing a yearly utilization rate by 30% to 40%. This is anticipated to lead to increased phosphate fertilizer prices due to increased costs of production, and shortage of the product.

Phosphorus (P) is required for the agricultural industry as it comprises between 80% and 90% of total global demand because it is a necessary nutrient for plant development and food production. Agriculture’s principal source of phosphorus is the mined rock phosphate of which Morocco and China have the biggest percentages in the word. Other Phosphorus containing resources are found in Australia, India, and some parts of Europe. Some phosphorus sources are rare and rare, uniformly highlighting its value and without which it is impossible to practice modern farming.

Nickel-based batteries are most used in EVs as they supply great energy density but are potentially hazardous because of thermal runaway and require cobalt, a dangerous and scarce substance. Scientists from the Pennsylvania State University have put forward more specific lithium iron phosphate (LFP) batteries as safer and cheaper ones. It has been possible to achieve fast charging for LFP batteries where it only takes around 10 minutes to get the batteries fully charged and shorten the distance travelled by EVs. This approach also minimizes the effect of fire risks associated with over charging Nickel based batteries used in electric vehicles and the optimal utilization of energy mainly in electric automobiles.

Comprehensive Analysis of Phosphorus and Derivatives Market

The phosphorus and derivatives market growth are rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis and by end-use analysis. By type analysis include ammonium phosphate, phosphoric acid, industrial phosphate, phosphorus pentoxide, and others. By end-use analysis include fertilizers, detergents, food, flame retardant material, and others.

The Asia Pacific region lead the phosphorus and derivatives market share by benefitting a market size of USD 23.10 billion in 2020 due to the increasing demand from fertilizer and food additives industries.

The top players in the markets have a central responsibility in the chemicals & advanced materials industry to be sure of industrial prospectus development and to establish the market norms. These players include, OCP, Mosaic, Yara International ASA, EuroChem Group, Solvay, Prayon S.A., Ma’aden, Innophos Holdings, LANXESS, Italmatch Chemicals S.p.A., ICL, Kazphosphate LLC, Haifa Group, Omnisal GmbH these market players provide a level-playing competitive landscape.

In November 2020, AgroLiquid introduced springuP, a liquid phosphorus product designed to enhance crop nutrition and help growers establish their crops effectively.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Estimated Year

2021

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Billion); Volume (Million Tons)

Segmentation

Type; End-Use; and Region

By Type

Ammonium Phosphate

Phosphoric Acid

Industrial Phosphate

Phosphorus Pentoxide

Others

By End-Use

Fertilizers

Detergents

Food

Flame Retardant Material

Others

By Region

North America (By Type, By End-Use, By Country)

• 
  U.S.
  
  Canada
  
  Mexico
  
  Europe (By Type, By End-Use, By Country)
  • 
    Germany
    
    U.K.
    
    France
    
    Italy
    
    Spain
    
    Rest of Europe
    
    Asia Pacific (By Type, By End-Use, By Country)
    • 
      China
      
      Japan
      
      India
      
      South Korea
      
      Rest of Asia Pacific
      
      Latin America (By Type, By End-Use, By Country)
      • 
        Brazil
        
        Rest of Latin America
        
        The Middle East & Africa (By Type, By End-Use, By Country)
        • 
          Saudi Arabia
          
          South Africa
          
          Rest of the Middle East & AfricaPlease Note: It will take 5-6 business days to complete the report upon order confirmation.