According to the report, The Global Phosphatic Fertilizers Market was worth USD 57.6 billion in 2016 and estimated to be growing at a CAGR of 3.5% to reach USD 68.41 billion by 2021.
The phosphate fertilizers are commercially mass produced with the help of phosphate rock. Hence the demand for phosphate rock is also predicted to witness a very high growth in coming years
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Phosphate is a crucial element for the progression of various crops owed to its capabilities in growth of seeds and roots as well as for the whole development of plants. The nature of modern farming is such that it is extremely reliant on the phosphate fertilizers on account of its aptitude to maximize grain and forage manufacture.
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The global demand for phosphate fertilizers is anticipated to observe a speedy growth on account of increasing demand for food as well as the forever growing world population. Increasing consumption of meat and milk has directed towards an upsurge in demand for forage production which has contributed to the growth in the phosphate fertilizers market.
Regulations executed by governments on account of phosphate rock being a non-renewable resource and so there can be a few barriers on account of its accessibility acting as a restrain for this market.
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- By Type
- By Application
The key players covered in this report are:
- CF Industries Holdings Inc. (U.S.)
- OCP (Morocco)
- Agrium Inc.(Canada)
- Potash Corp. of Saskatchewan (Canada)
- Mosaic (U.S.)
- Eurochem (Russia)
- ICL (Israel)
- Yara International ASA (Norway)
- Coromandel International Ltd. (India)
- Phosagro (Russia).
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