ID: MRFR/CnM/1389-HCR | February 2021 | Region: Global | 137 pages
The global phosphate market size is likely to undergo an excellent global expansion during the ongoing forecast period of 2021-2028. During the forecast period, the phosphate market is likely to witness a higher growth CAGR of 5.89%. The market is projected to be valued at a global value worth USD 112.15 million.
The deposits of clay that are a part of the phosphate market size when mined produce inorganic minerals which are known as phosphates. For the combination of chemicals and elements like sodium, rubidium, calcium, ammonium, potassium, and various other elements alongside the compounds of phosphate ions, the resulting phosphates are used. The largest market share, as per the phosphate market trends is likely to ve held by the ammonium phosphates owing to increasing demand for the same by the manufacturing industries.
The global phosphate market share has been affected due to the outbreak of the novel coronavirus pandemic during the ongoing forecast period for the market. The restrictions and healthcare issues and emergencies have forced the people to either shut their businesses or face the losses that have occurred in the market functioning on a global scale. The lockdown situation has hampered the ability of the manufacturing units that are resulting in a reduction in the sales revenue recorded in 2020 worldwide. The lack of resources, investment, and skilled labor is also hampering the production and manufacturing ability of the market which is nothing less than a testing time for the market during the forecast period of 2021-2028.
However, the predictions highlight the global phosphate market will be recovering during the forecast period as the global market players are strategizing their functions and manufacturing processes which are helping to meet the rising needs of the target audience during the forecast period. Also, the third quarter of 2021 is likely to be the most fortunate for the global market. The rising investments are expected to help the market with enhancing its ability to add innovation and creativity to the market’s product portfolio.
The competition of the phosphate market is rising because of the following global companies:
The phosphate market trends are witnessing an increase due to the expansion of the agriculture sector across the globe results. Also, the high demand for the phosphate market in the global market is giving rise to market trends and global investments. Moreover, there has been an increase in health awareness and physical fitness concerns among the target consumers that will boost the demand for nutritious food products. The emergence of this fact directly results in the growth of the phosphate market during the forecast period. The low availability of arable land and the increased levels of crop production are further, helping the market to gain a major market momentum during the forecast period.
The growing demand for phosphate market share is increasing rapidly in the global market. However, the emergence of some factors might restraint the growth of the phosphate market during the forecast period that will be ending in 2028. The fertilizers that are made from phosphates are known to have an inevitable increase in cost and hence the increasing prices of market fertilizer which are not likely to be afforded by all customers and hence, will restraint the market growth of the phosphate market during the ongoing forecast period based on the predictions that have been laid for the market period.
The growing demand for the phosphate industry is predicted to be increasing many folds in the global market during the ongoing forecast period. The main reason behind this hyped growth is due to various benefits offered associated and hence, adds value to global society at the end. Also, there has been a substantial increase in the demand for phosphate content in the market end-use industries like agriculture, alongside the beverages and food sector that will lead to flourishing the phosphate market. Phosphate is recognized for its richness in nutrients which is essential for the human body and helps in maintaining a healthy life. Also, the elaborated use of phosphate content increases the shelf life of products which is fueling the global demand for the phosphate market size.
The phosphate market is functioning in various global locations and different forms and segments. Based on the distribution of demand, rising need for the market products and services, the availability of raw materials and market resources, the location of the target audience, and much more. The segmentations are:
Based on the Type
The phosphate market has been divided based on the market type and includes potassium, sodium, rubidium, phosphoric acid, calcium, and many others like ammonium.
Based on the Application
The phosphate market in the global premises has been divided based on the application into building and construction industry, pharmaceuticals industry, cosmetics, and personal care industry, metal treatment industry, along with others like water treatment chemicals industry, detergents industry, food & beverages industry, fertilizers industry, amongst others.
Based on the Global Region
The phosphate market has been divided based on the global market region like the Latin American region, the Asian Pacific region, the North American region, the European region, alongside the Middle East and African region.
The phosphate market trends suggest that the APAC region is likely to emerge as the fastest and the largest-growing region during the ongoing forecast period of 2021-2028. The main reason behind this is the presence of various emerging countries in the region with growing populations like India and China. This is the most prevalent reason for the APAC region to dominate the global market operations during the forecast period ending in 2028. The increasing degree of investment in agricultural products and crop production is another majorly contributing factor that will be driving the market demand for phosphate market products in the Asia-Pacific region.
The global phosphate market report conducts a deep market analysis of the functioning of the market followed by the rising factors that will create situations of both growths and declined demand during the forecast period. The market report highlights the basis and functioning of the global market segments in various global locations. The report also helps in drawing a competitive market graph based on the functioning and expansion opportunities undertaken by the market players in the global market premises.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Mosaic Company (US), A. OCP (Morocco), Nutrien Ltd. (Canada), EuroChem (Switzerland), Innophos Holdings, Inc. (US), ICL (Israel), Jordan Phosphate Mines Company PLC (Jordan), PhosAgro (Russia), Maaden-Saudi Arabian Mining Company (Saudi Arabia), Avantor Performance Material, LLC (US)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The largest market share in the phosphate market in the global market is held by the Asia-Pacific region.
The largest market share in the phosphate market is held by the agricultural sector.
The increasing use of fertilizers is the major driver.
S.A OCP (Morocco), Mosaic Company (US), Nutrien Ltd. (Canada), Innophos Holdings, Inc. (US), EuroChem (Switzerland), ICL (Israel), PhosAgro (Russia), Jordan Phosphate Mines Company PLC (Jordan), Avantor Performance Materials, LLC (US), and Maaden-Saudi Arabian Mining Company (Saudi Arabia), are some of the leading players in the global phosphate market.