The global phosphaticfertilizers market size is projected to reach USD 83.28 billion bythe end of 2026. The ability of phosphate to enhance the overall nutrient value
of the crop will lead to a wider product adoption across the world. According
to a report published by Fortune Business Insights, titled “Phosphatic Fertilizers Market Size, Share& Industry Analysis, By Type (Diammonium Phosphate, Monoammonium Phosphate,
Single Superphosphate, Triple Superphosphate, and Others), Crop Type (Cereals,
Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional
Forecast, 2019-2026,” the market was worth USD 62.24 billion and willexhibit a CAGR of 3.8% during the forecast period, 2019-2026.
Information Source: https://www.fortunebusinessinsights.com/phosphatic-fertilizers-market-102583
Phosphatic fertilizers are substancesthat are inclusive of phosphate, a material that is essential for the health of
the root of the plant. The use of phosphatic fertilizers will lead to an
increase in the overall efficiency of the root as well as the plant. The increasing
demand for crops and crop produce across the world will create several growth
opportunities for the companies operating in the market. The massive
investments made in the research and development of newer phosphatic fertilizes
will bode well for the market in them coming years. The presence of several
large scale companies will constitute an increase in the overall market size in
the foreseeable future.
IncreasingNumber of Product Launches Will Aid Growth
The report encompasses severalfactors that have contributed to the growth of the market in recent years. The
increasing number of product launches has made a huge impact on the growth of
the market in recent years. In September 2016, ICL announced the launch of a
new technology that will be used for the production of controlled release
fertilizers. The company introduced ‘E-Max Release Technology’, a system that
will release nutrients such as phosphate and nitrogen in a controlled manner.
This product will help the company generate3 substantial phosphatic fertilizers
market revenue in the coming years and will subsequently have a massive impact
on the growth of the market.
NorthAmerica Holds the Highest Market Share; Increasing Demand for Sustainable Crop
Produce Will Aid Growth
The report analysesthe ongoing phosphatic fertilizers market trends across North America, Latin
America, Asia Pacific, and the Middle East and Africa. Among these regions, the
market in North America currently holds the highest market share, driven by the
massive demand for crop and agricultural produce in several countries across
this region. As of 2018, the market in North America was worth USD 7.54 billion
and this value is projected to increase further in the coming years. Besides
North America, the market Asia Pacific will witness considerable growth in the
coming years, owing to the huge volume of area under cultivation.
A few of the leading companies thatare currently operating in the global market include:
• YaraInternational ASA
• IsraelChemical Ltd.
• TheMosaic Company
• CFIndustries Holdings, Inc.
• CoromandelInternational Limited
• TheOCP Group
• PhosAgroPJSC
• SociedadQuímica y Minera de Chile S.A.
• NutrienLtd.
• KochIndustries, Inc.
Industry Developments:
February 2019: ICLannounced the launch of two new add-ons to its range of phosphatic fertilizers.
The company introduced Renovator and Turf Starter contain Pearl Technology.
