Phosphate Fertilizer Market Share, Growth, Trends | Report 2022-2030
The global phosphate fertilizer market was estimated at USD 61.7 billion in 2021 and it is expected to surpass around USD 176.2 billion by 2030, poised to grow at a CAGR of 12.37% from 2022 to 2030.
Growth can be attributed to increasing demand for fertilizers for usage in agricultural applications and is expected to drive the growth of the market during the forecast period.
Phosphorus rocks are the key raw materials used to manufacture phosphate fertilizers. Globally, the U.S. is the leading producer and consumer of phosphate rocks, which are primarily used for the manufacturing of the product. Rising global demand for food is a significant factor driving the growth of phosphate fertilizer market.
Governments of major agrarian economies such as Brazil and India support the use of the product to improve crop yields. This has encouraged farmers and local entrepreneurs in these countries to increase the consumption of phosphate grades. 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.
The Asia Pacific is expected to register significant growth in the coming years owing to the agriculture, food, and horticulture industries as they are the key sectors for economic development, accounting for a substantial GDP share.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 61.7 billion |
| Revenue Forecast by 2030 | USD 176.2 billion |
| Growth rate from 2022 to 2030 | CAGR of 12.37% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, application, region |
| Companies Covered | 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. |
Product Insights
The monoammonium phosphate segment accounted for the largest revenue share of around 31% in 2021. This is attributed to the low costs of MAP and the high level of phosphorous present in it. MAP is the most important phosphate fertilizer as it as it is a vital source of nitrogen and phosphorus. In agricultural applications, it has been used as an important granular fertilizer. It is used either directly or as a raw material for manufacturing numerous complex fertilizers such as nitrogen phosphate and nitrogen-phosphate-potassium owing to its water solubility.
Triple superphosphate was the second-largest product segment in 2021 accounting for around 17% of the revenue share. It is a highly concentrated phosphorus fertilizer containing approximately 46% of diphosphorus pentoxide. The increasing demand for TSP from the global agriculture industry is a major factor contributing to the growth of the TSP segment of the market during the forecast period.
Other products include DAP, SSP, and others. DAP is also used in several industrial processes such as metal finishing. It is commonly added to milk to produce cheese cultures, as well as to wine for sustaining yeast fermentation. DAP also acts as a fire retardant. With the increasing demand for agriculture in emerging economies such as Brazil and India, the demand for DAP for use in agricultural applications is anticipated to increase over the forecast period.
Application Insights
The cereals & grains application accounted for the largest revenue share of around 46% in 2021. The growth is attributed to the increasing demand for major cereals & grains worldwide on account of the growing population has led to high demand for phosphorous fertilizers across all developing as well as emerging agrarian economies of the world.
The oilseeds & pulses segment accounted for the second-largest market share and is anticipated to expand at a 5.6% CAGR over the forecast period in terms of revenue. This is attributed due to the increasing demand for various agricultural products, including soybean, groundnut, sesame, and sunflower, among other products, in these regions. The product promotes the growth of plants and is proven to be most effective for the cultivation of a wide range of oilseeds & pulses.
The use of the product in seed treatment is considered highly effective for the growth of fruits and vegetables, including onions, tomatoes, chilies, and other crops. Their application in cultivation ensures increased food production, improved seed development, plant maturation, and root development
Regional Insights
Asia Pacific region accounted for the largest revenue share of more than 61% in 2021. This is attributed to the growing food production and increasing demand for food products like rice and vegetables from import-dependent countries of Asia Pacific. Additionally, the agricultural sector is the backbone of the Indian economy as it provides employment to 50% of the workforce and contributes about 18% to the country’s GDP. The major crops grown in India are wheat, rice, pulses, spices, and spice products. India is one of the fastest-growing markets for agro-based industries. Due to this, the demand for the market is expected to increase over the forecast period.
Europe was the second-largest regional segment in terms of revenue in 2020 and is anticipated to expand at a CAGR of 6.1% in the coming years. This is attributed to the agriculture production of the countries in the region, Germany is among the fourth largest agricultural producers in the region and France is the sixth-largest producer, accounting for almost 1/3rd of the total agricultural land within the European Union.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Phosphate Fertilizer Market
5.1. COVID-19 Landscape: Phosphate Fertilizer Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Phosphate Fertilizer Market, By Product
8.1. Phosphate Fertilizer Market, by Product, 2022-2030
8.1.1. Monoammonium Phosphate (MAP)
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Diammonium Phosphate (DAP)
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Single Superphosphate (SSP)
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Triple Superphosphate (TSP)
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Phosphate Fertilizer Market, By Application
9.1. Phosphate Fertilizer Market, by Application, 2022-2030
9.1.1. Cereals & Grains
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Oilseeds & Pulses
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Fruits & Vegetables
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Phosphate Fertilizer Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Eurochem Group AG
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Agrium Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Potash Corp. of Saskatchewan Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Yara International ASA
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. CF Industries Holdings Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Israel Chemicals Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Coromandel International Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. The Mosaic Co.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. S.A OCP
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. PJSC PhosAgro.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers