Phosphate Fertilizer Market by Application and Geography - Forecast and Analysis 2021-2025

The phosphate fertilizers market share is expected to increase by USD 4.76 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.95%.

This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (cereals and grains, fruits and vegetables, oilseeds, and others) and geographic (APAC, South America, North America, Europe, and MEA). The market report also offers information on several market vendors, including Coromandel International Ltd., EuroChem Group AG, Hubei Xingfa Chemicals Group Co. Ltd., Israel Chemicals Ltd., Jordan Phosphate Mines Co. PLC, Maaden - Saudi Arabian Mining Co., Nutrien Ltd., OCP SA, PhosAgro AG, and The Mosaic Co. among others.

What will the Phosphate Fertilizers Market Size be During the Forecast Period?

 

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Phosphate Fertilizers Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing demand for phosphate fertilizers is notably driving the market growth, although factors such as challenges associated with the procurement of key raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the phosphate fertilizers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Phosphate Fertilizers Market Driver

The shrinking arable land due to rapid urbanization is one of the key factors driving the growth of the global market. The shrinking arable land and growing demand for food will significantly influence phosphate fertilizer market growth over the forecast period. Since then, arable land has been shrinking due to urbanization and industrialization. With the shrinking arable land and declining total factor productivity, there is an increase in the application of fertilizers to improve productivity in the available arable lands. Fertilizers can be used to overcome soil fertility issues as a large range of macronutrients and micronutrients can be used as soil supplements to increase the productivity and quality of crops. Governments and regulatory agencies have executed several strategies not only to achieve food self-sufficiency, provide income support to farmers, and ensure food security but also to endorse sustainable agricultural practices and organic farming. If countries fail to maintain their current self-sufficiency levels, it could result in global market repercussions. Therefore, the shrinking arable land and growing demand for food are crucial factors driving the global market.

Key Phosphate Fertilizers Market Trends

The increasing preference for vertical integration among vendors will fuel the global market. Vertical integration is one of the strategic moves of a company through which it owns, controls, and operates vertical businesses such as supply, distribution, retail, and other operations. Through vertical integration, a company can operate on its own terms. It significantly reduces operating cost and improves process efficiency. It increases the bargaining power of the company in the market as it reduces the high dependence on suppliers and other stakeholders. The cost associated with raw material procurement is one of the key expenses for phosphate fertilizer manufacturers. Therefore, phosphate fertilizer manufacturers are opting for backward integration and are themselves producing the required raw materials. Vertical integration reduces operating costs and improves process efficiency, which makes it one of the vital phosphate fertilizer market trends. Phosphate fertilizer manufacturers are venturing into the retail distribution of phosphate fertilizers to reach untapped markets and to increase their market share.

Key Phosphate Fertilizers Market Challenge

The issues associated with the procurement of key raw materials are a major challenge for global market growth. Constraints in terms of the availability, supply, and price of raw materials are expected to limit the growth of the global market during the forecast period. Phosphate rock is the major raw material used for the manufacturing of phosphate fertilizers. It is processed into phosphate concentrate and then used in the production of phosphoric acid. Phosphoric acid is further reacted with ammonia to produce phosphate fertilizers such as monoammonium phosphate, diammonium phosphate, and triple superphosphate. Phosphate rock is one of the key mineral sources of inorganic phosphorus. The availability of raw materials mainly depends on supply constraints and mining. The raw materials of phosphate fertilizers are unevenly distributed around the world, and hence, raw material-producing countries have a significant influence on the market. Supply-related constraints and high competition in procurement are expected to hinder the growth of the global market during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The global phosphate fertilizers market is a part of the global fertilizers and agricultural chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Phosphate Fertilizers Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Coromandel International Ltd.
• EuroChem Group AG
• Hubei Xingfa Chemicals Group Co. Ltd.
• Israel Chemicals Ltd.
• Jordan Phosphate Mines Co. PLC
• Maaden - Saudi Arabian Mining Co.
• Nutrien Ltd.
• OCP SA
• PhosAgro AG
• The Mosaic Co.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Phosphate Fertilizers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global fertilizers and agricultural chemicals market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Phosphate Fertilizers Market?

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53% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for phosphate fertilizers in APAC. Market growth in this region will be faster than the growth of the market in regions.

The growing demand for phosphate fertilizers will facilitate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The phosphate fertilizer market APAC witnessed a slump in 2020 due to the COVID-19 pandemic. Labour shortages and logistics-related restrictions became top concerns for manufacturers of phosphate fertilizers. Many producers, especially small and medium-sized enterprises (SMEs), had to cut or halt production. In order to ensure that cultivation and spring ploughing were carried out as normally as possible, countries such as India, and China have started implementing countermeasures. For instance, in mid-2020, the Chinese government issued an emergency notification to ensure the continued transportation and circulation of agricultural products. In addition, the Chinese market has been led by Hubei in terms of the production of phosphate fertilizer in the past five years. Since COVID-19, various manufacturing units were shut down in 2020. However, in 2021, vendors operating in the market in the region are frequently cleaning and sanitizing their manufacturing facilities to prevent the transmission of COVID-19 infection.

What are the Revenue-generating Application Segments in the Phosphate Fertilizers Market?

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The market share growth in the cereals and grains segment will be significant during the forecast period. Cereals and grains are an essential part of traditional diets, which is one of the major factors for the increased use of phosphate fertilizers for cereal and grain crops. There is an increased consumption of cereals and grains in APAC, and the region has to improve farming methodologies and technologies to meet the market demand. Hence, the adoption of phosphate fertilizers in the cultivation of cereal and grain crops is expected to witness a significant growth rate during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.

 

Phosphate Fertilizers Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 1.95%
Market growth 2021-2025	$ 4.76 million
Market structure	Fragmented
YoY growth (%)	1.85
Regional analysis	APAC, South America, North America, Europe, and MEA
Performing market contribution	APAC at 53%
Key consumer countries	China, India, Brazil, US, France, and Russian Federation
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Coromandel International Ltd., EuroChem Group AG, Hubei Xingfa Chemicals Group Co. Ltd., Israel Chemicals Ltd., Jordan Phosphate Mines Co. PLC, Maaden - Saudi Arabian Mining Co., Nutrien Ltd., OCP SA, PhosAgro AG, and The Mosaic Co.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Phosphate Fertilizers Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the phosphate fertilizers industry across APAC, South America, North America, Europe, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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