Phosphorus & Derivatives
Global Phosphorus and Derivatives Market to Reach $78.5 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Phosphorus and Derivatives estimated at US$61.2 Billion in the year 2020, is projected to reach a revised size of US$78.5 Billion by 2027, growing at a CAGR of 3.6% over the analysis period 2020-2027. Ammonium Phosphates, one of the segments analyzed in the report, is projected to record a 3.3% CAGR and reach US$43.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Industrial Phosphates segment is readjusted to a revised 3.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $16.8 Billion, While China is Forecast to Grow at 6% CAGR
The Phosphorus and Derivatives market in the U.S. is estimated at US$16.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.1 Billion by the year 2027 trailing a CAGR of 6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10 Billion by the year 2027.
Purified Phosphoric Acid Segment to Record 4.4% CAGR
In the global Purified Phosphoric Acid segment, USA, Canada, Japan, China and Europe will drive the 4.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.5 Billion in the year 2020 will reach a projected size of US$7.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.8% CAGR through the analysis period.
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