NEW YORK, Nov. 8, 2016 /PRNewswire/ -- "Global phosphate market projected to register a CAGR of 1.9%"
The global phosphate market is projected to reach USD 75.17 billion by 2021, at a CAGR of 1.9% from 2016 to 2021. The growth is primarily due to the increasing population coupled with the increasing demand for food, which is exerting pressure on increasing agricultural productivity. The factors restraining the growth of this market are, stringent regulations for the use of phosphate in detergents.
"Ammonium phosphate to be the largest type/derivative in the global phosphate market"
The market for ammonium phosphate is projected to be the largest by type/derivative in the global phosphate market from 2016 to 2021. Ammonium phosphate has the highest demand due to its increasing use in producing fertilizers, as, it is a vital element for the growth and development of plants. Moreover, the rising demand from the other applications such as foods & beverages, water treatment, cements and others is fueling the growth of ammonium phosphate in the global phosphate market.
"Fertilizers to be the largest application of the phosphate market during the forecast period"
Fertilizers are expected to be the largest application of the global phosphate market from 2016 to 2021. The need for increase in agricultural production exerts pressure on farmers, which results in an increase in the consumption of fertilizers for the increase in the yield of crops, which in turn is driving the global phosphate market.
"Asia-Pacific to be the largest and the fastest growing phosphate market during the forecast period"
The Asia-Pacific region is the largest phosphate market. The increasing population and rising per capita intake of food exerts pressure on increasing agricultural output. The area under cultivation cannot be increased due to a decrease in arable land. Thus, the rising application of fertilizers in agriculture is essential to cater to the demands of the increasing population, thereby driving the demand for phosphate in the region.
Breakdown of profiles of primary interviews for the report
- By Company Type – Tier 1 – 30%, Tier 2 –43%, and Tier 3 – 27%
- By Designation – C Level – 21%, Director Level – 23%, and Others – 56%
- By Region – North America – 37%, Europe – 23%, Asia-Pacific – 26%, and RoW – 14%
Some of the key companies profiled in this report are The Mosaic Company (U.S.), S.A. OCP (Morocco), PJSC PhosAgro AG (Russia), EuroChem (Russia), and Agrium Inc. (Canada), Potash Corporation of Saskatchewan Inc. (Canada), Saudi Arabian Mining Company (MA'ADEN) (Saudi Arabia), Innophos Holdings, Inc. (U.S.), Israel Chemicals Ltd (Israel), and Jordan Phosphate Mines Company (Jordan), among others.
The report is segmented on the basis of type/derivative, application, type of resource and region. The major types covered in this report are, ammonium phosphate, calcium phosphate, phosphoric acid, potassium phosphate, sodium tripolyphosphate, and others. The applications include fertilizers, foods & beverages, detergents, water treatment chemicals, metal finishing, and others. Based on type of resource, the market has been segmented into sedimentary marine deposits, igneous & weathered rock, biogenic and others. The market is also segmented on the basis of regions including the Asia-Pacific region, Europe, North America, Middle East & Africa, and South America.
This report covers the following studies which will benefit the client:
- Market segmentation based on type/derivative, application, type of resource, and region
- Market dynamics including drivers, restraints, and opportunities
- Value chain analysis
- Porter's Five Forces Analysis with respect to the global phosphate market
- Profile of the key market players of the global phosphate market
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