Phosphate Fertilizer Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2021-2031

Phosphate Fertilizer Market Outlook - 2031

The global phosphate fertilizer market size was valued at $24.0 billion in 2021, and is projected to reach $35.6 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031. Rise in population globally and increase in demand for food are fueling the need for higher agricultural productivity, thus driving the growth of the phosphate fertilizer market. In addition, rise in adoption of modern farming techniques, including precision agriculture, boosts the demand for phosphate fertilizers to optimize crop yields and enhance soil health. These factors contribute to the expansion of the phosphate fertilizer market to meet global food security needs.

Report key highlighters:

• The report outlines the current phosphate fertilizer market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
• The global phosphate fertilizer market has been analyzed in terms of value ($Million) and volume (Kilotons). The analysis in the report is provided on the basis of material type, battery type, casing type, 4 major regions, and more than 15 countries.
• The phosphate fertilizer market is fragmented in nature with few players such as Nutrien Ltd., Green Agri Solution, Gayatri Fertiplants International Pvt. Ltd, Rama Phosphates Ltd. APEX AGRO INDUSTRIES, OCP, Indorama Corporation, Silverline, ICL, and PhosAgro Group, which hold significant share of the market.
• The report provides strategy planning and industry dynamics to enhance decision making for existing market players and new entrants entering the phosphate fertilizer industry.
• Countries such as China, India, U.S., Germany, and Brazil hold a significant share in the global phosphate fertilizer  market.

Phosphate fertilizers are obtained by adding acid to ground or pulverized phosphate rock. The most commonly and widely used phosphate fertilizers are diammonium phosphate (DAP), mono ammonium phosphate (MAP), NPKs, and SSP. Phosphate is the natural constituent of phosphorus, an element that provides all the nutrients to plants for their development due to which it finds a wide range of applications in the agriculture industry.

Growing demand for ornamental crops and cash crops has spurred the market growth 

The rise in population and increase in disposable income have enhanced the purchasing power of people for high-end products that include ornamental crops and cash crops. In addition, the expansion of the agricultural industry and horticulture industries has led to the adoption of phosphate fertilizer chemicals across the globe owing to their ability to enhance plant productivity and efficiency. These factors are expected to enhance the growth of the phosphate fertilizer market during the forecast period. 

Availability of substitute and fluctuation in the prices of raw material is expected to hamper the market

However, the availability of specific substitutes for phosphate fertilizer such as guano, guano blends, and MAP fertilizer restrains the market growth. In addition, data published by Science Daily states that soil treated with high amounts of phosphate can result in poorer plant performance and microorganisms from this conditioned soil can negatively impact plant yield. This factor is projected to hamper the phosphate fertilizer market growth during the forecast period.

Robust demand from agriculture industry has driven the phosphate fertilizer market

On the contrary, rapid increase in population in both developed & developing economies, rise in import & export of various agricultural products, and surge in focus on the agriculture sector by both developed and developing economies have increased the demand for phosphate fertilizers, where it is used as an excellent source of plant nutrient and increases plant productivity. This factor is expected to create remunerative opportunities in the coming years.

Segments Overview

The phosphate fertilizer market is segmented by type, application, and region. By type, it is classified into single superphosphate (SSP), triple superphosphate (TSP), monoammonium phosphate (MAP), di-ammonium phosphate (DSP), and others. By application, it is divided cereals & grains, fruits & vegetables, oil seeds, and pulses. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Phosphate Fertilizer Market By Region

The  Asia-Pacific market accounted for a major market share in 2021, and is projected to grow at the highest CAGR during the forecast period and. The utilization of phosphate fertilizer chemicals in sectors such as agriculture, horticulture, gardening, and others is the major key market trend in Asia-Pacific.

Proliferating demand from the agriculture sector has surged the demand for phosphate fertilizer during the forecast period. Phosphate fertilizer is used to increase the photosynthesis capacity of plants, to increase the crop productivity, and enhances plant maturation. This is anticipated to increase demand for the phosphate fertilizer market in the Asia-Pacific region.

Phosphate Fertilizer Market By Type

In 2021, the Di-Ammonium Phosphate (DSP) phosphate segment was the largest revenue generator and is anticipated to grow at a CAGR of 4.2% during the forecast period. This is attributed to the fact that growing population across the globe and rise in awareness about consumption of organic and healthy food have enhanced the demand for pulses.

For instance, according to an article published by FAO in 2023, India is the largest producer (25% of global production), consumer (27% of world consumption) and importer (14%) of pulses in the world. DAP is widely used as fertilizer for pulses where less nitrogen and higher phosphorus is required as starter dose. Since phosphorus is immobile in soil, its source (DAP) should be placed at a distance where plant roots can easily reach. This factor is projected to foster the market during the forecast period

Phosphate Fertilizer Market By Application

By application, the market is divided into cereals & grains, fruits & vegetables, and oil seeds & pulses. The cereals and grains segment is dominating the global market, in terms of revenue in 2021 with 40% share in the global market. Cereals include all the dietary properties that exhibit carbohydrate, proteins, minerals, and others. Cereals are widely consumed across the globe where phosphate fertilizer is employed on the cereals production, helps in plant intake of essential nutrients, and enhances plant vigor.

The factors such as rise in population, growth in demand for food, and import & export trade have surged the demand for cereals. Phosphate fertilizer helps in root development, plant maturation, and seed development due to which it has enhanced the potential sales of phosphate fertilizer during the forecast period.

Key Strategic Development :

In February 2022, PhosAgro announced the launch of a new regional company, PhosAgro-Sibir. The company is part of PhosAgro and provides direct supplies of a wide range of mineral fertilizers to agricultural producers in the Siberian and Far Eastern Federal Districts.

In December 2020, PhosAgro-Region and Exact Farming have signed a cooperation agreement on the development of digital services for Russian customers of PhosAgro’s mineral fertilizers. The companies plan to jointly develop applications for remote monitoring, for evaluating and improving the performance of mineral nutrition systems based on PhosAgro products, and for developing and distributing agronomic expertise.

Competitive Analysis

The major companies profiled in this report include Nutrien Ltd., Green Agri Solution, Gayatri Fertiplants International Pvt. Ltd, Rama Phosphates Ltd. APEX AGRO INDUSTRIES, OCP, Indorama Corporation, Silverline, ICL, and PhosAgro Group.

Technology Trend Analysis  

• Advancements in phosphate recovery technologies from waste products, like mining by-products and organic waste, are reducing the reliance on traditional phosphate mining. These technologies extract valuable phosphorus from waste materials, making the production of phosphate fertilizers more sustainable and cost-effective. This approach not only minimizes environmental impact but also helps address phosphate supply shortages, ensuring a more sustainable and efficient agricultural system. 

• Nano-phosphate fertilizers are designed to release nutrients more efficiently and to be absorbed better by plants. This technology allows for a controlled, gradual release of phosphates, ensuring plants receive nutrients over a longer period. As a result, crop yields are improved, and nutrient wastage is minimized. In addition, the reduced leaching of phosphates helps decrease environmental impact, making it a sustainable solution for modern agriculture. 

• Integration of data analytics and IoT in agriculture allows farmers to monitor soil conditions, weather patterns, and crop needs in real-time. This technology enables precise and optimized application of phosphate fertilizers, ensuring the right amount is used at the right time. As a result, it reduces overuse, minimizes waste, and boosts crop productivity, ultimately enhancing the efficiency and sustainability of agricultural practices. 

• Phosphorus recovery technologies from sewage sludge and wastewater are advancing, allowing for the extraction and recycling of phosphorus from waste materials. This process helps reduce environmental pollution caused by excess phosphorus runoff and provides an alternative, sustainable source for phosphate fertilizers. By reclaiming phosphorus, these technologies contribute to a circular economy, reduce reliance on traditional mining, and support more environmentally friendly agricultural practices.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the phosphate fertilizer market analysis from 2021 to 2031 to identify the prevailing phosphate fertilizer market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the phosphate fertilizer market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global phosphate fertilizer market trends, key players, market segments, application areas, and market growth strategies.

  Phosphate Fertilizer Market Report Highlights

Aspects	Details
Market Size By 2031	USD 35.6 billion
Growth Rate	CAGR of 4.1%
Forecast period	2021 - 2031
Report Pages	445
By Application	Cereals and grains Fruits and vegetables Oilseeds and pulses
By Type	Single Superphosphate SSP Triple Superphosphate TSP Monoammonium Phosphate MAP Di Ammonium Phosphate DSP Others
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, UK, France, Spain, Italy, Rest of Europe) Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	Indorama Corporation, APEX AGRO INDUSTRIES, PhosAgro Group, Nutrien Ltd., ocp, Green Agri Solution, Silverline, icl, Rama Phosphates Ltd., Gayatri Fertiplants International Pvt. Ltd

Analyst Review

According to CXOs of leading companies, the global phosphate fertilizer market is expected to exhibit high growth potential. Phosphate fertilizer is a good source of plant nutrients due to which it is widely used in agriculture industry for enhancing crop productivity and yield. Furthermore, distinct types of phosphate fertilizers such as SSP, DAP, MAP, STP, and others are widely utilized on various crops such as cereals & pulses, fruits & vegetables, oilseeds, and others for efficient growth of plants.

In addition, SSP and DAP based phosphate fertilizer is water soluble and has a physical property due to which it is used on tomato plants for enhancing photosynthesis activity and effective growth. This is anticipated to boost the demand for SSP and DAP based phosphate fertilizer during the forecast period. Furthermore, phosphate is used as a chemical intermediator in the production of various chemicals due to which it finds application in the chemical and industrial sector.

The CXOs further added that sustained economic growth and development of agriculture sector have surged the popularity of phosphate fertilizer.

Author Name(s) : Akshata Dhange | Eswara Prasad

Related Tags

• Fertilizers
• Agrochemicals
• Commodity Chemicals
• Chemical Ingredients

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