The Worldwide Phosphate Rock Industry is Expected to Reach $29.7 Billion by 2030

DUBLIN, Feb. 21, 2022 /PRNewswire/ -- The "Phosphate Rock Market Size, Share & Trends Analysis Report by Application (Fertilizers, Food & Feed Additives, Industrial), by Region (North America, Europe, APAC, South America, MEA), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global phosphate rock market size is expected to reach USD 29.73 billion by 2030. It is expected to expand at a CAGR of 3.2% from 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.

Industrial applications of phosphate rock include cleaners, detergents, incendiary shells, tracer bullets, pyrotechnics, pesticides, metal coatings, toothpaste, cosmetics, pharmaceuticals, anticorrosion agents, matches, and other phosphorus compounds. Demand for synthetic detergents is projected to rise owing to urbanization in emerging economies. Most synthetic detergents contain phosphate as a builder, which improves the phosphate loading rate in water bodies. Thus, the demand from the detergent application segment is projected to benefit the growth of the phosphate rock industry.

The European Union countries are highly dependent on other countries for phosphate rock imports owing to the lack of sufficient phosphate reserves in the region. This leads to high production costs of phosphate fertilizers in the region. The demand for fertilizers is decreasing in Western Europe in contrast to the increasing demand in Eastern Europe. European countries are relying on potassium and nitrogen fertilizers as a result of the high production costs involved with phosphate fertilizers owing to the high phosphate prices.

Phosphate Rock Market Report Highlights

• The fertilizers application segment was the largest segment in 2021 and accounted for a revenue share of over 75.0%. The need to improve crop yield, along with the growing demand for agriculture products such as vegetables and fruits, is projected to remain a key contributing factor for the market growth
• The food and feed additives application segment is anticipated to witness lucrative growth over the forecast period. Phosphate is an important ingredient in animal feed and helps to improve fertility, digestive process, and bone strength in animals
• Asia Pacific was the largest regional market in 2021, in terms of both volume and revenue. The growth of the regional market is attributed to stable agriculture production and demand for food and nutrients for the growing population in countries such as China, India, and ASEAN
• The Middle East and Africa emerged as the second-largest regional market in 2021. The growth of the region is attributed to the availability of phosphorus rock reserves and the production of phosphate fertilizers in the region

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Phosphate Rock Market Variables, Trends & Scope
3.1. Global Phosphate Rock Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Outlook
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Porter's Five Forces Analysis
3.7.1. Supplier Power
3.7.2. Buyer Power
3.7.3. Substitution Threat
3.7.4. Threat from New Entrant
3.7.5. Competitive Rivalry
3.8. PESTEL Analysis
3.8.1. Political Landscape
3.8.2. Economic Landscape
3.8.3. Social Landscape
3.8.4. Technological Landscape
3.8.5. Environmental Landscape
3.8.6. Legal Landscape

Chapter 4. Phosphate Rock Market: Application Outlook Estimates & Forecasts
4.1. Phosphate Rock Market: Application Movement Analysis, 2021 & 2030
4.2. Fertilizers
4.2.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.3. Food & Feed Additives
4.3.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.4. Industrial
4.4.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.5. Others
4.5.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)

Chapter 5. Phosphate Rock Market Regional Outlook Estimates & Forecasts

Chapter 6. Competitive Analysis
6.1. Key Players & Recent Developments & Their Impact On The Industry
6.2. Company Categorization (Market Leaders, Emerging Players, Key Innovators)
6.3. Vendor Landscape
6.3.1. List of Raw Material Suppliers, Distributors, and Other Prominent Manufacturers
6.3.2. List of Phosphate Rock Producers and Their Plant Capacities

Chapter 7. Company Profiles
7.1. OCP Group
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. The Mosaic Company
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. Ma'aden
7.3.1. Company Overview
7.3.2. Financial Performance
7.3.3. Product Benchmarking
7.3.4. Strategic Initiatives
7.4. PhosAgro
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. Guizhou Kailin Holdings (Group) Co., Ltd.
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Yuntianhua Group
7.6.1. Company Overview
7.6.2. Financial Performance
7.6.3. Product Benchmarking
7.6.4. Strategic Initiatives
7.7. Misr Phosphate
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Hubei Xingfa Chemicals
7.8.1. Company Overview
7.8.2. Financial Performance
7.8.3. Product Benchmarking
7.8.4. Strategic Initiatives
7.9. Wengfu Group
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.9.4. Strategic Initiatives
7.10. Yunnan Phosphate Haikou Co., Ltd. (YPH)
7.10.1. Company Overview
7.10.2. Financial Performance
7.10.3. Product Benchmarking
7.10.4. Strategic Initiatives

For more information about this report visit https://www.researchandmarkets.com/r/5j3gnf

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