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The phosphorus fertilizers market size is estimated to grow by USD 11.56 billion at a CAGR of 4.83% between 2023 and 2028. The agriculture sector in developing countries is experiencing a significant increase in demand due to population growth and urbanization, leading to a shrinking arable land base. To address this challenge, there is a growing interest in sustainable farming practices and innovative solutions. One such solution is the use of bio-based and micronutrient fertilizers. These fertilizers offer several benefits, including improved crop yield, enhanced nutrient availability, and reduced environmental impact. Bio-based fertilizers are derived from renewable sources, making them a sustainable alternative to traditional chemical fertilizers. Micronutrient fertilizers, on the other hand, provide essential minerals that are often lacking in soil, ensuring optimal plant growth. With the demand for food continuing to rise, the adoption of these fertilizers can help meet the needs of the agriculture sector while minimizing the impact on the environment.
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Phosphorus fertilizers play a crucial role in the agricultural industry, providing essential nutrients such as phosphorus to crops like fruits, vegetables, cereals, pulses, oilseed crops, and grains. Phosphorus rocks are the primary source of phosphorus for fertilizer production. The food demand driven by the increasing world population has led to a potential uptick in the usage of phosphorus fertilizers. Three main types of phosphorus fertilizers are widely used: Monocalcium Phosphate (MCP), Triple Super Phosphate (TSP), and Diammonium Phosphate (DAP). Nitrogen fertilizers are often used in conjunction with phosphorus fertilizers. Phosphate content in these fertilizers varies, with MAP and DAP having a higher phosphorus content than TSP. Sulfur trace elements and calcium nutrients are also essential for plant growth and are sometimes added to phosphorus fertilizers. However, labor shortages, shrinking fields, urbanization, and urban areas encroaching upon arable land pose challenges to agricultural producers. Despite these challenges, the demand for phosphorus fertilizers is expected to remain strong due to the need to increase crop yields to feed the growing population. Phosphorus rocks, the primary source of phosphorus for fertilizer production, are finite, making sustainable and efficient use of these resources essential. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The shrinking arable land due to rapid urbanization is notably driving market growth. The global agricultural industry faces the challenge of meeting the increasing demand for food due to population growth and urbanization, which has led to a decline in arable land. In the 1950s, arable land was sufficient to meet the global demand for food crops such as Rice, Wheat, Corn, Cotton, Soybean, Rapeseed, and Sorghum. However, the shrinking arable land, which has declined by nearly 15 million hectares in China alone between 1979 and 1995, necessitates the use of primary nutrient fertilizers, particularly Phosphorus, to optimize nutrient requirements for these prominent crops. Phosphorus is a primary nutrient that plays a crucial role in various metabolic processes, including the formation of cell membranes, the production of chlorophyll, and the growth of plant tissues. The use of Phosphorus fertilizers enhances the efficacy of specialty fertilizers and ensures optimal nutrient uptake by crops, even during severe flooding or in regions with low average nutrient levels, such as Texas and Houston. On a global scale, the demand for Phosphorus fertilizers is expected to continue growing to meet the nutrient needs of field crops and ensure food security. Thus, such factors are driving the growth of the market during the forecast period.
The increasing preference for vertical integration among vendors is the key trend in the market. Phosphorus fertilizers play a crucial role in the nutritional needs of prominent crops such as Rice, Wheat, Corn, Cotton, Soybean, Rapeseed, and Sorghum, serving as a primary nutrient for metabolic processes in plant tissues, including cells and cell membranes. The USDA reports that Phosphorus is essential for chlorophyll production and energy transfer in plants. Severe flooding in areas like Texas and Houston can impact the availability of this nutrient, making it vital for farmers to ensure adequate Phosphorus supply. Global phosphorus fertilizer demand is driven by the nutrient requirements of field crops. Phosphorus is a primary nutrient that significantly influences plant growth. Phosphorus fertilizer manufacturers are increasingly focusing on backward integration to reduce raw material procurement costs. They are producing the required raw materials in-house to improve process efficiency and bargaining power in the market. Average nutrient requirements for crops vary, and specialty fertilizers with enhanced efficacy are gaining popularity. Phosphorus fertilizers remain a critical input for maintaining optimal crop yields on a global scale. Thus, such trends will shape the growth of the market during the forecast period.
The stringent regulations and policies is the major challenge that affects the growth of the market. The market plays a crucial role in enhancing the nutrient content of prominent crops such as Rice, Wheat, Corn, Cotton, Soybean, Rapeseed, and Sorghum at a global scale. Phosphorus is a primary nutrient that plays an essential role in various metabolic processes, including energy transfer, plant growth, and cell division. It is a key component of plant tissues, including cell membranes and chlorophyll. Phosphorus fertilizers are essential for field crops to meet their average nutrient requirements. Severe flooding in regions like Texas and Houston have highlighted the importance of these fertilizers in mitigating crop losses. Specialty fertilizers, including phosphorus-based varieties, have shown increased efficacy in addressing the nutrient needs of specific crops. Despite their importance, phosphorus fertilizers must adhere to stringent regulatory frameworks. International bodies like the United Nations Food and Agriculture Organization (FAO) and the US Environmental Protection Agency (EPA) impose regulations on classification, labeling, and packaging. European regulations under Regulation (EC) No 1272/2008 (CLP) also apply to phosphorus fertilizer manufacturers. These regulations ensure the sustainable use and management of fertilizers while maintaining environmental safety. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Coromandel International Ltd. - The company offers phosphorus fertilizers that provides insecticides, pesticides, weedicides and fungicides which includes nitrogen, phosphatic and potassic, water soluble fertilizer, sulfur products, micro nutrients and organic manure.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The grain and oilseed segment is estimated to witness significant growth during the forecast period. Phosphorus fertilizers play a crucial role in enhancing the productivity of agricultural land, particularly for producing fruits, vegetables, cereals, pulses, grains, oilseeds, and other food crops. These fertilizers contain Phosphorus, derived primarily from Phosphorus rocks, which is essential for plant growth, especially for the uptake of Nitrogen and Potassium. The increasing food demand due to the growing world population and urbanization puts pressure on agricultural producers to maximize yields. Major phosphorus fertilizers include Monammonium Phosphate (MAP), Triple Super Phosphate (TSP), Diammonium Phosphate (DAP), and Single Super Phosphate (SSP). Watersoluble P and pure phosphate-based fertilizers are also gaining popularity due to their high phosphorus content and ease of application.
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The grain and oilseed segment accounted for USD 17.59 billion in 2018. Oilseed crops, such as soybean and sunflower, require additional nutrients like Sulfur trace elements and Calcium nutrients, making phosphorus fertilizers indispensable. The Agrochemical demand for phosphorus fertilizers is expected to witness a potential uptick due to labor shortages, shrinking fields, and the need for increased productivity. Serra do Salitren in Brazil is a significant source of Phosphate Rock. The consumption volume of Phosphorus fertilizers is measured in metric tons. In the leading global agricultural economies, farmers rely heavily on fertilizers to optimize field crop cultivation, ensuring food security and maintaining a sustainable agricultural sector. The agricultural industry's future depends on the efficient use of fertilizers to meet the nutritional needs of crops and address the challenges of a growing population.
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APAC is estimated to contribute 57% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Phosphorus fertilizers play a crucial role in the agricultural sector, particularly in the production of fruits, vegetables, cereals, pulses, grains, oilseeds, and other food crops. These fertilizers, derived primarily from Phosphorus rocks, contain essential nutrients such as Nitrogen, Potassium, Phosphorus, Sulfur trace elements, and Calcium nutrients. The demand for phosphorus fertilizers is driven by the increasing food demand due to the growing world population and urbanization, leading farmers to intensify field crop cultivation despite labor shortages and shrinking arable land. Phosphorus fertilizers come in various forms, including MAP (Monammonium Phosphate), TSP (Triple Super Phosphate), DAP (Di-ammonium Phosphate), SSP (Single Super Phosphate), and Watersoluble P. Pure phosphate-based fertilizers, such as Triple Super Phosphate from Serra do Salitren, have a high phosphate content and are widely used in agriculture. The agrochemical industry's consumption volume of phosphorus fertilizers is projected to increase significantly in metric tons due to the potential uptick in Nitrogen fertilizer demand. The use of phosphorus fertilizers is essential for the growth of oilseed crops, which are a significant source of food and industrial raw materials. The consumption of these fertilizers is expected to continue to rise as agriculture remains a leading global industry.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Phosphorus fertilizers play a crucial role in the global agricultural sector, particularly in the production of fruits, vegetables, cereals, pulses, grains, oilseeds, and other food crops. The demand for phosphorus fertilizers is driven by the increasing food demand due to the growing world population and urbanization, leading farmers to intensify farm productivity. Phosphorus fertilizers, including Monammonium Phosphate (MAP), Triple Super Phosphate (TSP), Diammonium Phosphate (DAP), and others, are essential sources of phosphorus for crops. Phosphorus rocks, such as those found in Serra do Salitren, are the primary raw materials for producing these fertilizers. Nitrogen fertilizers are often used in conjunction with phosphorus fertilizers, as both nutrients are essential for plant growth. Phosphorus fertilizers contain varying phosphate content, such as Watersoluble P and Pure phosphate-based fertilizer. Additionally, they may contain sulfur trace elements and calcium nutrients. The agrochemical demand for phosphorus fertilizers is expected to see a potential uptick due to labor shortages, shrinking fields, and the need for increased crop yields. The consumption volume of phosphorus fertilizers is measured in metric tons, with leading global agricultural producers being significant consumers. Overall, the market for phosphorus fertilizers is an essential component of the agricultural industry, contributing to food production and ensuring food security.
Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.83% |
Market growth 2024-2028 |
USD 11.56 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.37 |
Regional analysis |
APAC, South America, North America, Europe, and Middle East and Africa |
Performing market contribution |
APAC at 57% |
Key countries |
China, India, US, Brazil, and Indonesia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AgroLiquid, CF Industries Holdings Inc., Coromandel International Ltd., Corteva Inc., Crop Quest Inc., EuroChem Group AG, Haifa Negev technologies Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Indorama Corp., Israel Chemicals Ltd., Jordan Phosphate Mines Co. PLC, Nutrien Ltd., OCP Group, Peptech Biosciences Ltd., PhosAgro Group of Companies, Saskatchewan, Saudi Arabian Mining Co., The Mosaic Co., and Yara International ASA |
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 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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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