Compound share

Global Phosphate Rock Market (2022 to 2030) – Size, Share and Trends Analysis Report – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–“Phosphate Rock Market” report has been added to from ResearchAndMarkets.com offer.

The global phosphate rock market size is expected to reach USD 29.73 billion by 2030. It is expected to grow at a CAGR of 3.2% from 2022 to 2030.

Companies cited

  • OCP Group

  • The Mosaic Company

  • Ma’aden

  • PhosAgro

  • Guizhou Kailin Holdings (Group) Co., Ltd.

  • Yuntianhua Group

  • Misr Phosphate

  • Hubei Xingfa Chemicals

  • Wengfu Group

  • Yunnan Haikou Phosphate Co., Ltd. (YPH)

Rising demand from the agriculture industry, along with growing population, is expected to fuel the growth of the market over the forecast period. According to the United Nations, the world’s population grew by 1.1% between 2017 and 2018 and is expected to reach 9.8 billion in 2050. This is expected to drive demand for phosphate fertilizers to meet food needs, which, in turn , expected to propel the use of phosphate rock in the years to come. Additionally, growth in animal feed production is expected to support the growth of the market over the coming years.

Phytase is a growing alternative to phosphate feeds due to the high costs of phosphate feeds. It is a vital ingredient in animal feed and affects reproduction, growth and feed cost. Most rock phosphate is not available to animals, so it is important to add inorganic phosphate to diets to meet rock phosphate requirements. In such cases, phytase is added to improve performance and reduce feed cost. These phytase benefits are further expected to affect the market dynamics.

Industrial applications of phosphate rock include cleaners, detergents, incendiary shells, tracer bullets, pyrotechnics, pesticides, metal coatings, toothpaste, cosmetics, pharmaceuticals, anti-corrosion agents, matches and d other phosphorus compounds. The demand for synthetic detergents is expected to increase due to urbanization in emerging economies. Most synthetic detergents contain phosphate as a builder, which improves the phosphate loading rate in water bodies. Thus, the demand from the detergent applications segment is expected to benefit the growth of the phosphate rock industry.

European Union countries are highly dependent on other countries for phosphate rock imports due to the lack of sufficient phosphate reserves in the region. This leads to high production costs of phosphate fertilizers in the region. The demand for fertilizers is decreasing in Western Europe in contrast to the growing demand in Eastern Europe. European countries depend on potash and nitrogen fertilizers due to the high production costs associated with phosphate fertilizers due to high phosphate prices.

Highlights of the Phosphate Rock Market Report

  • The fertilizer application segment was the largest segment in 2021 and accounted for a revenue share of more than 75.0%. The need to improve crop yield, along with the growing demand for agricultural products such as vegetables and fruits, is expected to remain a key driver for market growth.

  • The food and feed additive applications segment is expected to witness lucrative growth over the forecast period. Phosphate is an important ingredient in animal feed and helps improve fertility, digestive process and bone strength in animals.

  • Asia-Pacific was the largest regional market in 2021, in terms of volume and revenue. The growth of the regional market is attributed to the stable agricultural production and demand for food and nutrients for the growing population of countries such as China, India and ASEAN.

  • The Middle East and Africa emerged as the second largest regional market in 2021. The region’s growth is attributed to the availability of phosphorus reserves and the production of phosphate fertilizers in the region.

Main topics covered:

Chapter 1. Methodology and scope

Chapter 2. Executive Summary

Chapter 3. Phosphate Rock Market Variables, Trends and Scope

3.1. Global Phosphate Rock Market Outlook

3.2. Mapping of penetration and growth prospects

3.3. Industry Value Chain Analysis

3.3.1. Commodity Outlook

3.4. Technology Overview

3.5. Regulatory framework

3.6. Market dynamics

3.6.1. Market Driver Analysis

3.6.2. Market Restriction Analysis

3.6.3. Industry Challenges

3.7. Porter’s Five Forces Analysis

3.8. PESTEL analysis

Chapter 4. Phosphate Rock Market: Application Outlook Estimates and Forecasts

Chapter 5. Phosphate Rock Market Regional Outlook Estimates and Forecasts

Chapter 6. Competitive Analysis

6.1. Key players and recent developments and their impact on the industry

6.2. Categorization of companies (market leaders, emerging players, key innovators)

6.3. Supplier Landscape

6.3.1. List of major raw material suppliers, distributors and other manufacturers

6.3.2. List of phosphate rock producers and their factory capacities

Chapter 7. Business Profiles

For more information on this report visit https://www.researchandmarkets.com/r/3xr2r8