With CAGR of 6.7%, Phosphate Rock Market Size to Worth USD 43.82 Billion by 2027

0
2K

The global phosphate rock market is forecasted to reach USD 43.82 Billion by 2027, according to a new report by Reports and Data. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the phosphate rock market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.

The COVID-19 impact:
The COVID-19 pandemic is having a significant impact on the phosphate rock industry. Demand for phosphate rock is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. The lack of free movement of the labor force required for the application of fertilizers in the agricultural fields is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.

Get a sample copy of the phosphate rock Market report, visit: https://www.reportsanddata.com/sample-enquiry-form/3695

Further key findings from the report suggest

  • The phosphate rock is the only substantial resource of phosphorus worldwide used significantly in the production of nitrogen-phosphorus-potassium fertilizers for providing nutrition to food-crop and making of animal feed supplements.
  • Phosphate rock also finds application in water treatment. It is added in a small amount in water supplies to prevent corrosion and is finds widespread usage in boiler water treatment.
  • The direct usage of phosphate rock evades the conventional wet acidification process for water-soluble phosphate fertilizers and avoids the production cycle of wastes comprising greenhouse gases and phospho-gypsum, therefore leads to energy conservation and environmental protection from industrial pollution.
  • The market in the Asia Pacific region contributed to the largest phosphate rock market share in 2019. The market dominance of the APAC region may be attributed to the presence of key producers in the region. Moreover, high demand for food, owing to the presence of a growing population in developing economies, such as India and China, and the easy availability of raw materials.
  • Key participants include Nutrien Limited, Hubei Xingfa Chemicals Group Co. Ltd., PhosAgro, Itafos, OCP Group, Yunnan Phosphate Haikou Co. Ltd. (YPH), The Mosaic Company, Fertoz, SC Phosphate Resources Limited, and Misr Phosphate, among others.

To know more about the latest insights of the report, visit: https://www.reportsanddata.com/request-latest-insight/3695

For the purpose of this report, Reports and Data has segmented into the global phosphate rock market on the basis of deposits, distribution channel, application, and region:

Deposits Outlook (Revenue, USD Billion; 2017-2027)

  • Sedimentary Marine
  • Igneous
  • Metamorphic
  • Biogenic
  • Others

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

  • Online
  • Offline

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Fertilizers
  • Animal Feed
  • Water Treatment
  • Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • U.K
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • MEA
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of LATAM

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/3695

Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

About Reports and Data                                    

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact:

John W, Head of Business Development
Reports And Data | Web: 
www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: 
sales@reportsanddata.com
LinkedIn | Twitter | Blogs

Pesquisar
Categorias
Leia Mais
Networking
Join the Best DevOps Classes in Mumbai and Become an Expert
Become an expert in DevOps, and enroll in the best DevOps classes in Mumbai today. You can take...
Por WebAsha Technologies 2024-04-22 09:30:49 0 1K
Health
Partial Ossicular Replacement Prostheses Market Fostering Collaboration for Improved Patient Outcomes
Partial Ossicular Replacement Prostheses Market: Pioneering Hearing Restoration Solutions The...
Por Ajay Mhatale 2024-05-03 14:01:31 0 834
Party
Compound 80532-66-7: Unveiling its Chemical Composition and Broad Applications
The chemical properties and potential applications of Compound 80532-66-7 have recently attracted...
Por Angelina Fortinso 2024-02-06 15:28:37 0 1K
Outro
Global Rolling Papers Market Demand, Industry Trends, Business Growth 2033
The global rolling papers market, also known as the cigarette paper market, is expected to...
Por Niranjan Krade 2024-08-30 18:23:52 0 316
Outro
Jacquard Fabric Market Research on Growth Opportunities and Future Outlook Analysis to 2030
The global jacquard fabric market witnessed strong growth in 2021 and is expected to continue...
Por Bhagyashri Shewale 2023-05-10 08:54:52 0 2K