The global phosphate rock market size was valued at USD 21.30 billion in 2021, and is predicted to be worth around USD 28.73 billion by 2030, registering a CAGR of 3.1% during the forecast period 2022 to 2030.
The increasing demand from the agriculture industry, along with the growing population, is anticipated to fuel the market growth over the forecast period. According to the United Nations, the world population increased by 1.1% from 2017 to 2018 and is projected to reach 9.8 billion in 2050. This is expected to drive the demand for phosphate fertilizers to support the food needs, which, in turn, is expected to propel the utilization of phosphate rock over the coming years. Moreover, growing animal feed production is projected to support the market growth over the coming years.
Phytase is a growing alternative for phosphate feed owing to the high costs of phosphate feeds. It is a vital ingredient in animal feed and affects reproduction, growth, and feed cost. Most of the natural phosphate is unavailable to animals, thus it is important to add inorganic phosphate in diets to compensate for natural phosphate needs. In such cases, phytase is added to improve performance and reduce the cost of animal feed. These benefits of phytase are further expected to affect the market dynamics
Increasing demand from fertilizers is anticipated to boost the demand for phosphate rock over the forecast period. The rising global population, coupled with the growing food industry, is expected to drive the need for grains and cereals over the coming years.
|Market Size||US$ 28.73 billion by 2030|
|Growth Rate||CAGR of 3.1% From 2022 to 2030
|Largest Market||Asia Pacific|
|Forecast Period||2022 to 2030|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||OCP Group; Ma'aden; The Mosaic Company; Misr Phosphate; PhosAgro; Jordan Phosphate Mines Company (PLC); Guizhou Kailin Holdings (Group) Co Ltd; and Yuntianhua Group|
By Application Analysis
The fertilizers segment accounted for the largest share of over 75.0% in 2021, in terms of revenue. The segment is projected to grow in the years to come owing to the increasing demand from the agricultural industry due to the growing population across the world.
Meat and dairy are the major sources of protein to ensure healthy food for the ever-growing world population. The processed phosphoric acid and limestone are fed into a high-speed mixer to create a homogenous mixture, which is then dried and packed for the end-users.
Hydroponics has been gaining worldwide attention owing to the quality food production and proper resource management. Soil-based farming is facing challenges such as climate change, natural disasters, and declining fertility of the land. In such cases, hydroponics can be greatly beneficial as it involves cultivating plants in nutrient solutions.
By Regional Analysis
Asia Pacific accounted for the largest volume share of over 45.0% in 2021 due to diversified food needs in populous and emerging countries, such as India and China. The growing demand for food in the region is expected to fuel the utilization of fertilizers in order to increase the efficiency of crop production, which is anticipated to boost the demand for phosphate rock over the coming years.
The agriculture sector in APAC is expanding and the population is mainly dependent on the domestic farming sector. These factors are encouraging farmers to increase land productivity by using several soil inputs, thus propelling the regional market growth.
The Mosaic Company
Guizhou Kailin Holdings (Group) Co., Ltd.
Hubei Xingfa Chemicals
Yunnan Phosphate Haikou Co., Ltd. (YPH)
Food & Feed Additives
Middle East & Africa
The phosphate rock market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of phosphate rock market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global phosphate rock market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the phosphate rock market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted phosphate rock market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the phosphate rock capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of phosphate rock by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global phosphate rock market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major phosphate rock market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of phosphate rock market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the phosphate rock industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
phosphate rock market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to phosphate rock market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of phosphate rock market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new phosphate rock market. These factors have benefited the growth of the global market for phosphate rock. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for phosphate rock. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of phosphate rock are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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