San Francisco, 24 September
2018: Based on a report published by Grand View Research, Inc.; the
global phosphate
fertilizers market is anticipated to attain around USD 78.06 billion by
2025. Growing requirement for diverse food products attributed to rising
population is anticipated to drive the global market over the forecast period
(2018 to 2025). Phosphate offered by these fertilizers can help the plants absorb
sufficient amount of energy from the sun and convert it into useful components.
High demand for agricultural
fertilizers to boost crop yield and soil fertility is likely to stimulate
growth of the market for phosphate fertilizers. Limited availability of arable
land and growing awareness regarding the advantages of phosphate fertilizers
can further augment market expansion. Favorable government initiatives to
promote fertilizers offering naturally occurring nutrients such as nitrogen and
phosphorus can positively influence market development during the forecast
period.
The worldwide phosphate
fertilizers market can be segregated on the basis of product, application, and
region. Based on product, the market can be categorized into Diammonium Phosphate
(DAP), superphosphate, Monoammonium Phosphate (MAP), and others. In 2016, the DAP
fertilizers accounted for market share equivalent to USD 15.5 billion. These
fertilizers are expected to witness significant growth in demand during the
forecast period as they are the key source of phosphorus and nitrogen. These
fertilizers can be used in wide range of crops such as sowing pastures,
cereals, fodder crops, sugarcane, dairy pastures, and horticultural crops and
are likely to be a cost-effective source of nitrogen for crops.
Access
Research Report of Phosphate
Fertilizers Market@ www.grandviewresearch.com/industry-analysis/phosphate-fertilizers-market
In 2016, the MAP fertilizers
segment accounted for market share equivalent to USD 10.3 billion. The segment is
predicted to grow at phenomenal CAGR of around 4.7% from 2017 to 2025. These fertilizers
are water-soluble in nature and can be used as a good source of phosphorus and
nitrogen for crops and plants. In addition, the high purity level of MAP
fertilizers can make it ideal for foliar and fertigation applications. All
these factors are anticipated to contribute to the overall market growth in the
forthcoming years.
Based on application, the
market for phosphate fertilizers can be classified into oilseeds, cereals and grains,
fruits and vegetables, and others. In 2016, the cereals and grains segment
dominated the market and accounted for largest market share. It is likely to
grow at CAGR of nearly 4.6% from 2017 to 2025. High
demand for cereals and grains is attributed to rising population and demand for
food in countries like China and India. Farmers and gardeners are expected to
add phosphate fertilizers to soil to increase the ability of crops and plants
to absorb natural phosphorus present in the soil. The ability of fertilizers to
maintain the richness of soil nutrients for healthy plant development can impel
the demand in near future.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Regional segmentation includes
North America, Europe, Asia Pacific, Central and South America, and Middle East
and Africa. In 2016, Asia Pacific dominated the market and accounted for around
59.1% of market share. It is estimated to grow at a CAGR of nearly 5.5% through
to 2025. High demand for diversified food attributed to rising population in
countries such as India and China are expected to boost demand for phosphate
fertilizers during the forecast period. India is predicted to be the second
largest consumer and importer of diammonium phosphate (DAP) fertilizers.
In Central and South America,
countries such as Brazil followed by Argentina, Chile, and Columbia dominated
the phosphate fertilizers market in 2016. Changing dietary patterns coupled
with increasing population are likely to fuel demand for various food products
in the region. This, in turn, is expected to influence overall market growth
during the forecast period.
Some of the leading companies operating
in the market for phosphate fertilizers are Diammonium Phosphate, Israel
Chemicals Limited, Coromandel International Limited, The Mosaic Company, and
EuroChem Group AG. Most companies are expected to adopt advanced production
technologies to offer quality food products to match the improving standard of living.
In addition, most companies are expected to manufacture products using
phosphate additives for wide range of food applications.
Access
Press Release of Phosphate Fertilizers Market@ www.grandviewresearch.com/press-release/global-phosphate-fertilizers-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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