Global Phosphate Fertilizers Market Report 2020 - Rapid Increase in Production and Exports of Phosphates from China

DUBLIN, March 18, 2020 /PRNewswire/ -- The "Phosphate Fertilizers Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global phosphate fertilzers market was worth $65.69 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7% and reach $84.04 billion by 2023.

The phosphate fertilzers market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific accounts for around 42% of the market.

World population is growing and is expected to reach 10 billion by 2050 and is expected to significantly boost the insecticides market. Increase in population creates more demand for food. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Additionally, farmers and commercial farming companies will increase acquisitions in arable land to increase crop production, which is expected to increase the demand for herbicides. In order to meet the food demand that may rise from 59% to 98%, farmers have to increase agricultural productivity through fertilizers and advanced technologies in farming. Thus, the increase in demand for food for the growing population will promote the growth of insecticides market.

Most of the phosphorus is derived from the rock phosphate. The phosphate rock is a non-renewable source and it has taken millions of years for formation from seabed to soil through tectonic uplift and weathering. The growing demand for phosphorus is depleting its source. According to Global Phosphorus Research Initiative (GPRI), the phosphorus production would be at peak stages in the year 2033 and it will rapidly decrease in coming years due to its depletion in reserves. Thus, the scarcity of rock phosphate is limiting the growth of phosphorus fertilizers.

There has been a rapid increase in production and exports of phosphates from China. In the past, there was limited supply of phosphate rock due to limited production capacity and monopolistic pricing in most countries but, over the past few years there has been a rapid increase in phosphate production in China. For example, in 2014 the world trade in diammonium phosphate and monoammonium phosphate was estimated to be around 24 million metric tonnes, of which China provided 8 million tonnes. This is significant given that ten years ago Chinese exports were close to zero.

In August 2019, Ma'aden, a Saudi Arabia-based mining and metallurgical company that specializes in gold mining, refining, phosphate mining and aluminum mining acquired Meridian Group for $140 million. The acquisition is expected to help Ma'aden in strengthening its position as the world's largest producer and exporter of phosphate fertilizers and enhance its contribution in the global food security. The acquisition also helps Ma'aden with logistics asset in South East Africa through Meridian's operations in Malawi, Mozambique, Zambia and Zimbabwe. Meridian Group is a Mauritius-based fertilizer company that specializes in fertilizer manufacturing and distribution such as ammonium phosphate.

Major players in the market are Agrium Inc, Israel Chemicals Limited, CF Industries Holdings Inc., Coromandel International Ltd., Nutrien Ltd., PhosAgro, Yara International ASA, EuroChem Group A, The Mosaic Company, and OCP S.A.

Key Topics Covered

1. Executive Summary

2. Phosphate Fertilzers Market Characteristics

3. Phosphate Fertilzers Market Size And Growth
3.1. Global Phosphate Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Phosphate Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Phosphate Fertilzers Market Segmentation
4.1. Global Phosphate Fertilzers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Monoammonium Phosphate (MAP)
• Diammonium Phosphate (DAP)
• Superphosphate
• Others

4.2. Global Phosphate Fertilzers Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Cereals & Grains
• Oilseeds
• Fruits & Vegetables
• Others

5. Phosphate Fertilzers Market Regional And Country Analysis
5.1. Global Phosphate Fertilzers Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Phosphate Fertilzers Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• Agrium Inc.
• Israel Chemicals Limited
• CF Industries Holdings Inc.
• Coromandel International Ltd.
• Nutrien Ltd.
• PhosAgro
• Yara International ASA
• EuroChem Group
• The Mosaic Company
• OCP S.A.
• Potash Corp

For more information about this report visit https://www.researchandmarkets.com/r/c600bn

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