Phosphate Fertilizers Market Forecasts to 2028 – Global Analysis By Product (Diammonium Phosphate (DAP), Triple Superphosphate (TSP) and Other Products), Crop Type (Grasslands, Permanent crops and Other Crop Types), Form (Dry, Liquid and Other Forms), Dis

Phosphate Fertilizers Market Forecasts to 2028 – Global Analysis By Product (Diammonium Phosphate (DAP), Triple Superphosphate (TSP) and Other Products), Crop Type (Grasslands, Permanent crops and Other Crop Types), Form (Dry, Liquid and Other Forms), Distribution Channel (Offline & Online), Application and Geography

According to Stratistics MRC, the Global Phosphate Fertilizers Market is accounted for $66.26 billion in 2022 and is expected to reach $103.30 billion by 2028 growing at a CAGR of 7.68% during the forecast period. Phosphorus is a crucial component for plant growth since it promotes the formation of roots, seeds, and mature plants. To increase the local phosphorus levels, farmers and gardeners add fertiliser with phosphates to the soil and plants. Although nearly all plants require phosphorus to support healthy growth, young plants are particularly sensitive to low levels. Inorganic fertilisers that contain phosphorus are completely necessary in modern farming to maximise the yield of forage and cereals. The market for phosphate fertilisers is driven by rising meat consumption and a shortage of arable land.

According to the US Department of Agriculture, the country expanded the farmlands to plant 94.0 million acres of corn and 85.0 million acres of soybeans, which resulted in greater consumption of nitrogenous fertilizers in 2021. According to the World Bank, arable land (percentage of land area) in the United States was around 17.2% of the total land in 2018.

Market Dynamics:

Driver:

Limited accessibility to cultivable land

The decrease in the amount of arable land per person in various countries, including India, China, the United States, and others, is one of the key drivers boosting demand for phosphorus fertilisers. Fertilizers with phosphorus contribute to higher output. In order to meet the need for food production, agricultural yields must increase because there is less arable land per person and more people. Crop protection is a crucial strategy used by farmers to supply the world's food requirement. Using phosphorus fertilisers on crops to meet the increased demand for food products is also a tried-and-true technology. Due to the growing industrial and urbanisation, future agricultural land expansion is doubtful. Given the increased demand for meat and other food products, there may be an increase in the need for phosphorus fertilisers.

Restraint:

Strict Regulations and Environmental Constraints

The structure and operation of the global phosphorus fertilisers market have been continuously evolving as a result of the absence of market and free trade regulations guiding the supply and demand of phosphate rock. To manage and oversee them, the government employs regulations and state-owned company strategies. The market and the supply of phosphate rock suffer as a result of increased government intervention in response to significant changes in the phosphorus fertilisers market internationally. Increasing awareness of inefficient phosphate usage and loss, particularly in light of urbanisation, the P2O5 grade of phosphorus, cadmium pollution due to its detrimental effects on human health and the environment, and these are just a few of the problems affecting the market for phosphate fertilisers.

Opportunity:

Increase in population and rising food demand

The demand for effective agricultural goods and equipment is rising in response to the world's expanding population in order to feed more people despite the planet's expanding population. The amount of arable land and agricultural production area in the world are both drastically decreasing, which has increased demand for high-quality fertilisers like phosphatic compound fertilisers (DAP/MAP or NPK). In the upcoming years, it is projected that rising agricultural and irrigation technology innovation as well as expanding sprinkler or drip irrigation use will contribute to the market expansion of phosphatic fertilisers.

Threat:

Price volatility

Some of the constraints limiting the growth of the phosphate fertilisers market include price volatility and government rules restricting the usage of phosphate-based fertilisers. The primary factor causing price volatility for these fertilisers is changing energy costs. Other important variables that have a significant impact on the international trade in fertiliser products include transportation costs, exchange rates, policy choices, and other uncontrolled factors. All of these elements are anticipated to limit market expansion in the upcoming years.

Covid-19 Impact

The market's growth during and after the COVID-19 era has suffered. The market is expanding primarily due to the rising demand for phosphate fertilisers, but other elements, such as difficulties in obtaining necessary raw materials, may restrain this growth. Our research experts have examined historical data to determine the COVID-19 pandemic's effect on the phosphate fertilisers market as well as the key market drivers. To achieve a competitive edge, end goals can be determined and marketing strategies can be improved with the aid of a comprehensive analysis of the drivers.

The monammonium phosphate (MAP) segment is expected to be the largest during the forecast period

The monammonium phosphate (MAP) segment is estimated to have a lucrative growth, due to the fact that MAP is inexpensive and includes a sizable amount of phosphorus. Since it is an essential source of both phosphorus and nitrogen, MAP is the most significant phosphate fertiliser. Historically, it has been used as a granular fertiliser with great success in agricultural applications. It is used directly or as a raw ingredient to create a variety of complex fertilisers, including nitrogen phosphate and nitrogen phosphate potassium, because of its water solubility.

The cereals & grains segment is expected to have the highest CAGR during the forecast period

The cereals & grains segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the fact that grains and cereals make up the majority of all consumed crops. Additionally, there is a significant global area under cultivation for grains and cereals. The use of fertiliser in the cultivation of grains and cereals has gained popularity. The demand for phosphate fertiliser in this market is also being driven by the rising consumption of cereals and grains including rice, wheat, rye, corn, oats, sorghum, and barley around the world. It is anticipated that an increasing worldwide population would raise food demand, which will further fuel market expansion for phosphate fertilisers.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising demand for food items like rice and vegetables from import-dependent countries in the Asia Pacific region and the burgeoning food production. Additionally, the agriculture industry is the foundation of the Indian economy and accounts for a significant portion of its GDP. India produces the majority of its crops in the following order: wheat, rice, pulses, spices, and spice goods. India is one of the nations with the strongest demand for goods made from agricultural sources. As a result, it is predicted that demand for the market would increase over the projection period.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the region's agricultural production, which includes Germany as one of the fourth greatest producers and France as the sixth largest producer. Nearly one-third of the agricultural land in the European Union is owned by these two nations collectively.

Key players in the market

Some of the key players profiled in the Phosphate Fertilizers Market include Euro chem, Potash Corp of Saskatchewan Inc., Agrium Inc., Israel Chemicals Limited, The Mosaic Co., Coromandel International Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Jordan Phosphate Mines Co.PLC, Nutrien Ltd., OCP SA, Mosaic Co., PhosAgro AG., Yara International ASA, CF Industries Holdings Inc., PJSC PhosAgro, RAWAG, Inttraders and Shams Chemicals Co.

Key Developments:

In May 2022, Coromandel International, a fertilizer manufacturer, plans to buy a 45% stake in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining firm based in Senegal Africa, for $19.6 million (approximately $150 crore).

In May 2022, Indian Potash Ltd signed a five-year agreement with Israel Chemical Ltd to import 0.6-0.65 million tonnes of potash muriate annually.

In February 2022, EuroChem Group (hereafter referred to as ""EuroChem"" or ""the Group""), a leading global producer of fertilizer, recently announced that it had completed the acquisition of the Serra do Salitre phosphate project in Brazil.

Products Covered:
• Diammonium Phosphate (DAP)
• Triple Superphosphate (TSP)
• Single Superphosphate (SSP)
• Monammonium Phosphate (MAP)
• Other Products

Crop Types Covered:
• Grasslands
• Permanent crops
• Floriculture crops
• Pastures
• Plantation crops
• Fruits & Vegetables
• Oilseeds & Pulses
• Cereals & Grains
• Other Crop Types

Forms Covered:
• Dry
• Liquid
• Pelleted
• Granular
• Other Forms

Distribution Channels Covered:
• Offline
• Online

Applications Covered:
• Foliar
• Aerial application
• Basal application
• Starter solution
• Soil
• Fertigation
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements