The global phosphates market has witnessed steady demand from numerous end use industries including agrichemicals, animal feed, cleansers and detergents, food and beverages, water treatment and more. According to the latest study by Future Market Insights (FMI), the global market of phosphates is anticipated to grow with a growth rate of 2.7% during the forecast period of 2021 to 2031.
Ammonium phosphate and calcium phosphate are anticipated to remain key product types in the global market since they play a crucial role in the fertilizers industry. Diammonium phosphate, monoammonium phosphate, single super phosphate, and triple super are among the more commonly used variants.
With growing concerns over food security due to the rising global population, the demand for phosphate-based fertilizers is anticipated to increase in the coming years. Moreover, the decreasing arable land area all over the globe owing to urbanization and industrialization has fueled the growing demand for phosphates.
The phosphate market is anticipated to witness a slowdown during the Covid-19 crisis owing to the decrease in the demand from the industrial sector. However, the market has witnessed a positive outlook during the crisis owing to the production of agricultural products and animal feed. These factors will prove crucial for continued growth of the global phosphates market.
Key Takeaways from Phosphates Market Study
- The global phosphates market is anticipated to reach a value of US$ 21,169.7 Mn by the end of the forecast period in 2031.
- Ammonium phosphate is expected to remain the dominant product type owing to higher agriculture applications accounting for three quarters of the global market through 2031.
- China is dominant in East Asia with a value share of over 95% through 2031, supported by large scale agriculture and chemicals industries.
- India will reflect above average growth with a CAGR of 3% through 2021, owing to its position as a leading agrarian economy.
- Brazil will hold over 50% of the Latin America market through 2031, owing to government incentives towards large-scale agriculture practices.
“Agrochemical sales have fueled the growth of phosphates significantly over the past few years owing to the demand for fertilizer products particularly in emerging agrarian economies such as India and China. Government incentives will support growth through 2031,” said a lead analyst at FMI.
Phosphates Market: Participant Insights
Key players are focusing on strategic expansions by expanding production capacity in emerging economies by setting up of new production units, collaborations and mergers and acquisitions of other market participants. They are focusing on strengthening of their product portfolio while strengthening distribution networks.
Market participants in the global phosphates market are Nutrien Ltd., The Mosaic Company, YARA International, EuroChem, Prayon SA, Ma’aden-Saudi Arabian Mining Company, PhosAgro, Jordan Phosphates Mines Company (PLC), Aditya Birla Chemicals, Israel Chemicals, KazPhosphates LLC, Sulux Phosphates Limited, Zimbabwe Phosphates Industries Limited, OCP Group, Innophos Holdings, Inc., Chemische Fabrik Budenheim KG, Haifa Chemicals ltd., URALCHEM JSC, Solvay SA, OCI Company Ltd., Cabot Microelectronics Corporation, Asia Union Electronic Chemical Corp., Hubei Xingfa Chemicals Group Co., Ltd., Yichang Municipal Pacific Chemicals Co., Ltd (YMPCC), Sichuan Blue Sword Chemical (Group) Co., Ltd., Foskor (Pty) Ltd., and Industries Chimiques du Senegal.
Want to Know More?
Future Market Insights has published a market research report on the Phosphates market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Phosphates market through three different segments – by Product Type, by Grade, by End Use and by Region.
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Scope of Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value and Kilo Tons for Volume|
|Key Regions Covered||North America, Latin America, Europe, East Asia, South Asia & Pacific, the Middle East and Africa|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and Southern Africa, Western Africa.|
|Key Segments Covered||Product type, Grade, End Use and Region|
|Key Companies Profiled||Nutrien Ltd.The Mosaic CompanyYARA InternationalEuroChemPrayon SAMa’aden-Saudi Arabian Mining CompanyPhosAgroJordan Phosphates Mines Company (PLC)Aditya Birla ChemicalsIsrael ChemicalsKazPhosphates LLCSulux Phosphates LimitedZimbabwe Phosphates Industries LimitedOCP GroupInnophos Holdings, Inc.Chemische Fabrik Budenheim KGHaifa Chemicals Ltd.URALCHEM JSCSolvay SAOCI Company Ltd.Cabot Microelectronics CorporationAsia Union Electronic Chemical Corp.Hubei Xingfa Chemicals Group Co., Ltd.Yichang Municipal Pacific Chemicals Co., Ltd (YMPCC)Sichuan Blue Sword Chemical (Group) Co., Ltd.Foskor (Pty) Ltd.|
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
|Customization & Pricing||Available upon Request|
Key Questions Answered in the Report
- What is the demand outlook for the phosphates market?
The global phosphates market is projected to grow at a 2.7% CAGR from 2021 to 2031.
- What is the current valuation of the phosphate market?
In 2021 the phosphate market is projected to reach US$ 16,164.5 Mn.
- What is the volume-based outlook of the phosphate market?
The 2021 volume of phosphates will reach 51,331.6 kilo tons, which will hit US$ 65,278.6 kilo tons in 2031.
- At what rate did the phosphate market grow in the last 5 years?
The phosphates market rose at 2.1% CAGR between 2016 and 2020.
- What is the share of the top players in the phosphates market?
The Mosaic Company, OCP Group, PhosAgro, Ma’aden-Saudi Arabian Mining Company, and EuroChem cumulatively account for 52.4% of the global market in 2021.