Phosphate Fertilizer Market Overview, Cost Structure Analysis and Forecast to 2040

 Phosphate Fertilizer Industry Overview

The global phosphate fertilizer market size was valued at USD 61.63 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2040.

This is attributed to the increased demand from agricultural producers for a fertilizer that provides necessary nutrients such as nitrogen and potassium. Agricultural products, such as fruits, vegetables, cereals, and pulses, are major application areas. The use of phosphorous fertilizers in various grains promotes root growth, improves crop quality, and enhances stalk strength. Phosphorus rocks are the most significant global sources of phosphorus. Globally, the U.S. is the leading producer and consumer of phosphate rocks, which are primarily used for the manufacturing of the product. The rising global demand for food is a significant factor driving the growth of the market.

Gather more insights about the market drivers, restrains and growth of the Global Phosphate Fertilizer Market

The global demand for phosphate is surging owing to the increasing world population resulting in rising food demand. The spike in costs of raw materials resulting from increased investments in new mine capacity expansions is expected to continue in the coming years as well.

Hence, rising prices of mining activities impact the costs of raw materials worldwide. Emerging economies around the world are now realizing the importance of using the product in agricultural production. Governments of major agrarian economies such as Brazil and India support the use of phosphate fertilizers to improve crop yields. This has encouraged farmers and local entrepreneurs in these countries to increase the consumption of fertilizer-grade phosphate.

The COVID-19 pandemic has significantly impacted various global businesses related to the agricultural sector, agricultural inputs, fertilizers, etc. As a majority of countries in Asia Pacific are agrarian economies, any slowdown in their agricultural activities or momentary pauses in their cross-border trade has a significant impact on the overall operations of agricultural companies and farmers operating in Asia Pacific.

This eventually leads to disruptions in the overall agricultural sector across all major countries of the region. In 2020, amid the COVID-19 pandemic, the prices of primary raw materials such as ammonia and sulfur increased sharply owing to supply restrictions and refinery curtailments.

Browse through Grand View Research's Agrochemicals & Fertilizers Industry Research Reports.

  • Microencapsulated Pesticides Market - The global microencapsulated pesticides market size was at USD 536.1 million in 2021 and is expected to witness a compound annual growth rate (CAGR) of 12.7% from 2022 to 2030.
  • Nano Fertilizer Market - The global nano fertilizer market size was estimated at USD 2705.5 million in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 14.8% from 2022 to 2030.

Phosphate Fertilizer Market Segmentation

Grand View Research has segmented the global phosphate fertilizer market report based on the product, application, and region:

  • Product Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)
    • Monoammonium Phosphate (MAP)
    • Diammonium Phosphate (DAP)
    • Single Superphosphate (SSP)
    • Triple Superphosphate (TSP)
    • Others
  • Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)
    • Cereals & Grains
    • Oilseeds & Pulses
    • Fruits & Vegetables
    • Others
  • Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2010 - 2040)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Phosphate Fertilizer market include

  • Eurochem Group AG
  • Agrium Inc.
  • Potash Corp. of Saskatchewan Inc.
  • Yara International ASA
  • CF Industries Holdings Inc.
  • Israel Chemicals Ltd.
  • Coromandel International Ltd.
  • The Mosaic Co.
  • S.A OCP
  • PJSC PhosAgro

Order a free sample PDF of the Phosphate Fertilizer Market Intelligence Study, published by Grand View Research.

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