Phosphate Market expected to reach 65.28 million metric tons by 2025, growing at a CAGR of 1.4% from 2017 to 2025.
Phosphate is an essential element for clever growth of various crops owing to its capability of developing seeds and roots leading to complete maturity of plants. The worldwide demand for phosphate fertilizers is relied upon to witness fast development by virtue of rising demand for food and also the regularly expanding population.
The phosphate fertilizers are industrially manufactured with the help of phosphate rock. In this manner, the demand for phosphate rock is additionally anticipated to witness high development in the coming years.
Global Phosphate Market accounted for 57.90 million metric tons in 2016 and is expected to reach 65.28 million metric tons by 2025, growing at a CAGR of 1.4% from 2017 to 2025. In terms of revenue, Global Phosphate Market was valued at US$ 68.51 Bn in 2016 and is expected to reach US$ 82.03 Bn by 2025, expanding at a CAGR of 2.1% from 2017 to 2025.
The US market alone is forecast to be worth $XX billion in 2025, accounting for XX% of the overall Phosphate market.
Phosphoric acid is relied upon to have the biggest piece of the overall industry in the conjecture period. Phosphoric acid is broadly used as a food additive.
Food-grade phosphoric acid is added to ferment foods and beverages like different colas and jams, which gives a tart or sour taste. Dihydrogen phosphate and hydrogen phosphate are used as a part of the chemical industry for the manufacture of different chemicals.
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Increasing consumption of milk and meat has prompted expansion for forage generation which has, in turn, prompted the development of the phosphate market. Phosphate fertilizers have an extensive variety of applications in the horticultural area which incorporates crop advancement and plant development.
Developing economies like India and China which are agriculture driven, have seen an ascent for phosphate fertilizers and this demand will keep on growing over the figure time frame. Other developing economies including Bangladesh, Indonesia, and Pakistan have additionally seen a huge development in the demand for phosphate fertilizers and this demand is anticipated to proceed throughout the following seven years.
Nations including Brazil and Morocco have made augmentations to their phosphoric acid production capacities. Market participants must know about any type of standards imposed by legislatures of different nations as phosphate rock is a non-renewable resource and hence there can be a couple of obstructions by virtue of its availability.
Asia Pacific is the quickest developing business sector for phosphate with China being the biggest manufacturer of phosphate, and the production is relied upon to facilitate development throughout the following seven years inferable from the rising population in China and the rising demand for food. North America keeps on being one of the biggest providers for phosphate.
In spite of the fact that the market has quite recently recuperated from an economic crisis, the phosphate market has possessed the capacity to recover from the crisis and is relied upon to witness consistent development over the estimated time frame.
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The report provides both, qualitative and quantitative research of the Global Phosphate Market, as well as encompasses worthy insights into the rational scenario and favored improvement methods adopted by key contenders. Some of the primary players of Global Phosphate Market are Agrium Inc., Anglo American, ATP group, Brewcraft, CF Industries Holdings Inc., Chemische Fabrik Budenheim KG, Coromandel International Limited, EuroChem, Haifa group, ICL, Innophos, Israel Chemicals Limited, Jordan Phosphate Mines Company, Lanxess AG, Maaden, OCP SA, PhosAgro, PHOSPHATE RESOURCES LIMITED, Potash Corp. of Saskatchewan Inc., Prayon, S.A OCP, Saminchem, Solvay, The Mosaic Company, TKI Hrashtnik, Uniwar and Fosfa A.S, Western Sichuan Shifang Xingda Chemical Co., Ltd., Yara International ASA, Yidu Xingfa Chemicals Company Limited, and Ma’aden-Saudi Arabian Mining Company among others.
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