Phosphate Rock Market to grow by USD 4.3286 billion from 2022 to 2027 | The rising demand for phosphate fertilizers drives market growth - Technavio

NEW YORK, Sept. 3, 2023 /PRNewswire/ -- The latest report on phosphate rock market, 2022-2027 estimates to register an incremental growth of USD 4.3286 billion at a CAGR of 3.47% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The rising demand for phosphate fertilizers drives market growth. Phosphorus is an important macronutrient required for plant development and is widely used in agriculture and horticulture. Furthermore, various types of phosphate fertilizers are available in the market to address phosphorus deficiency in soil. Such fertilizers enrich the soil by providing essential nutrients for plant growth. Hence, such factors boost the growth of the phosphate rock market during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

Phosphate Rock Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Deep Mineral, EuroChem Group AG, Fertoz Ltd., Guizhou Chanhen Chemical Corp., Hubei Xingfa Chemicals Group Co. Ltd., Innophos Holdings Inc., Israel Chemicals Ltd., Jordan Phosphate Mines Co. PLC, Manidharma Biotech Pvt. Ltd., Nutrien Ltd., OCP Group, Oracle Chemicals Pvt. Ltd., PhosAgro Group of Companies, Saudi Arabian Mining Co., Solanki Minerals, Solvay SA, Surya Min Chem, The Mosaic Co., Yunnan Phosphate Haikou Co. Ltd., and Yuntianhua Group Co. Ltd. are among some of the major market participants.

Company Offerings 

• EuroChem Group AG - The company offers phosphate rock such as EuroChem phosphate rock.
• Fertoz Ltd. - The company offers phosphate rock such as Fertoz phosphate rock.
• Hubei Xingfa Chemicals Group Co. Ltd. - The company offers phosphate rock such as Xinghe phosphate rock.

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Phosphate Rock Market 2023-2027: Market Dynamics

The increasing population is an emerging phosphate rock market trend. Food demand will continue to rise during the forecast period due to the rising population across the world. This trend shall increase the use of fertilizers to increase crop yields, which is expected to lead to increased demand for rock phosphate in the coming years. The population growth, coupled with growing incomes in developing countries, could lead to dietary changes such as eating more protein and meat. Hence, such trends fuel the growth of the phosphate rock market during the forecast period.

Health hazards associated with phosphate-based fertilizers challenge the growth of the phosphate rock market. Excessive use of phosphate fertilizers can lead to severe side effects and can pollute groundwater and surface water resources, such as lakes, ponds, and rivers. When the chemicals are absorbed by food crops and enter the food chain, they cause serious health problems. Additionally, the rise in phosphate-based fertilizer production plants is causing serious environmental problems. Hence, such challenges impede the market growth during the forecast period.

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Phosphate Rock Market 2023-2027: Segmentation

Phosphate Rock Market is segmented as below:

• Application 
• Fertilizer
• Animal Feed Supplement
• Others
• Source Outlook
• Marine phosphate deposits
• Igneous phosphate deposits
• Metamorphic deposits
• Biogenic deposits
• Weathered deposits
• Geography 
• APAC
• North America
• Europe
• South America
• Middle East And Africa

The market growth by the fertilizer segment will be significant during the forecast period. Phosphorus is an essential macronutrient that ensures optimal productivity in crop cultivation as is extracted when its rock is processed. After it is processed, one of the three major nutrients most commonly used in fertilizers. There is ample use of these fertilizers to cultivate food grains and oilseeds. Hence, such factors drive the segment growth during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic market data (2017 to 2021) & forecast market period (2023-2027)  – Download a Sample Report

Phosphate Rock Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist phosphate rock market growth during the next five years
• Estimation of the phosphate rock market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the phosphate rock market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of phosphate rock market, vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Source

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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