The global phosphate rock market size was valued at US$ 21.41 Bn in 2021 and is expected to expand at a CAGR of 2.75% between 2022 and 2032. The market is expected to reach US$ 28.86 Bn worldwide by the end of 2032.
Because more fertilisers are anticipated to be produced over the forecast period, demand for phosphate rock is anticipated to increase. The demand for grains and cereals is anticipated to rise in the coming years as a result of the expanding global population and the food industry.
The market is projected to gain a global market size of US$ 22 Bn at the end of 2022. Due to growing populations across the globe, there is expected to be an increase in demand for fertilizers in the years to come.
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Increasing Food Demand to Augment the Need for Phosphate based Fertilizers
The demand for food is increasing due to population growth, urbanization, and changing diets. This has led to an increased need for phosphate–based fertilizers in order to meet the growing demand for food. Phosphate–based fertilizers are essential for crop production as they provide essential nutrients such as phosphorus and potassium that are necessary for healthy plant growth. Phosphate–based fertilizers also help to improve soil fertility, which is important for sustainable agriculture. Additionally, phosphate–based fertilizers can help reduce the amount of water needed for irrigation and can increase crop yields. As the demand for food continues to rise, so too will the need for phosphate–based fertilizers in order to meet this demand.
Prominent Key players of the Phosphate rock market survey report:
- OCP Group
- The Mosaic Company
- Ma’aden
- PhosAgro
- Guizhou Kailin Holdings (Group) Co. Ltd.
- Yuntianhua Group
- Misr Phosphate
- Hubei Xingfa Chemicals
- Wengfu Group
- Yunnan Phosphate Haikou Co. Ltd. (YPH)
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Key Segments Covered in the Phosphate Rock Industry Survey
-
By Application
- Phosphate Rock for Fertilizers
- Phosphate Rock for Food & Feed Additives
- Phosphate Rock for Industrial Applications
- Phosphate Rock for Other Applications
The insights for each vendor consists of:
- Company profile
- SWOT analysis
- Main market information
- Market share
- Revenue, pricing and gross margin
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