The global phosphate market was USD 68.51 Billion in 2016,
and is projected to reach USD 75.17 Billion by 2021, at a CAGR of 1.9% during
the forecast period. Global focus on increasing agricultural output and
increasing demand for phosphate from the foods & beverages industry is
expected drive the market during the forecast period.
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Some of the key players in the global phosphate market are
The Mosaic Company (U.S.), S.A. OCP (Morocco), PJSC PhosAgro AG (Russia),
EuroChem (Russia), and Agrium Inc. (Canada), Potash Corporation of Saskatchewan
Inc. (Canada), Saudi Arabian Mining Company (MA’ADEN) (Saudi Arabia), Innophos
Holdings, Inc. (U.S.), Israel Chemicals Ltd (Israel), and Jordan Phosphate
Mines Company (Jordan), among others.
The global phosphate market is classified on the basis of
type/derivative, namely, ammonium phosphate, calcium phosphate, phosphoric
acid, potassium phosphate, sodium tripolyphosphate, and others. Ammonium
phosphate is expected to lead the global phosphate market during the forecast
period, followed by calcium phosphate. Ammonium phosphate leads the market due
to its growing use for the production of fertilizers, which is a vital element
for the growth of plants and crops. The market for calcium phosphate is
expected to witness the highest CAGR from 2016 to 2021. The growth is mainly
due to the rapid growth of the packaged food industry, as calcium phosphate is
an excellent food preservative.
The global phosphate market is classified on the basis of
application, namely, fertilizers, foods & beverages, detergents, water
treatment chemicals, metal finishing, and others. The fertilizers application
is the highest, as the need for higher agricultural production on the limited
available arable land is driving the consumption of fertilizers. However, the
foods & beverages application is expected to grow at the highest CAGR
during forecast period mainly due to the increasing consumption of packaged
food.
The global Phosphate
Market is classified on the basis of type of resource, namely,
sedimentary marine deposits, igneous & weathered rock, biogenic, and
others. Sedimentary marine deposits are the largest source for phosphate. About
75% of the global phosphate rock is extracted from sedimentary marine deposits.
The igneous & weathered rock is the second largest source of phosphate.
The global phosphate market is segmented on the basis of
region, namely, Asia-Pacific, Europe, North America, Middle East & Africa,
and South America. Currently, the Asia-Pacific region is the largest market for
phosphate. The increasing population coupled with the increased demand for
nutritious food in the region is expected to drive the increasing demand for
phosphate. South America is projected to be the second-fastest growing market
from 2016 to 2021. This growth is attributed to the rapidly growing
agricultural sector in the region.
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