Phosphate fertilizers market: Forecasts to 2018
Research and Markets announced the addition of the "Phosphate Fertilizers Market by Active Ingredient, Crop Type & By Geography: Trends & Forecasts To 2018" report to its offering.
Phosphorus is an essential nutrient required for plant growth. It helps in root development, plant maturation, and seed development. Together with nitrogen and potassium, phosphorus is one of the most important elements for plant life. These features make phosphorus essential to maximize the production of grains and forage. Modern farming is dependent on the use of inorganic fertilizers that contain phosphorus.
Commercial phosphate fertilizers are manufactured using phosphate rock. Approximately two-third of the world's phosphate resources are derived from sedimentary and marine phosphate rock deposits, and about 90% of the global phosphate rock demand is used for food production. Phosphorus is scarce and phosphate rock is a non-renewable resource. Market forces and political regulations may affect its availability.
The global phosphate fertilizers demand is increasing due to the growing world population and increasing food demand. Increasing milk and meat consumption in the world has necessitated large feed volume that in turn has increased the demand for maximum forage production. The global demand for phosphate fertilizers is projected to grow by 3.2% annually, from 2013 to 2018.
The phosphatic fertilizer market is dominated by key companies such as Yara International ASA (Norway), Agrium Inc. (Canada), Coromandel International Ltd. (India), Potash Corp. of Saskatchewan (Canada), CF Industries Holdings Inc. (U.S.), Eurochem (Russia), OCP (Morocco), Mosaic (U.S.), ICL (Israel), and Phosagro (Russia).They keep the competition at a moderate pace; however, being a consolidated and rationalized market, individual companies have their competitive advantage in the market when supplying phosphatic fertilizers.
In 2012, the global phosphorous fertilizer market generated a value of $96,505.5 million and is projected to grow at a CAGR of 2.4% by 2018. The market was led by superphosphate with the fastest growing CAGR and market share. In 2012, diammonium phosphate was a market leader in Asia-Pacific. The market was led by Asia-Pacific in 2012.
The report focuses on the detailed study of phosphatic fertilizer types and applications in different regions with a thorough analysis of the market players in the industry. The key players covered in this report are Yara International ASA (Norway), Agrium Inc. (Canada), Coromandel International Ltd. (India), Potash Corp. of Saskatchewan (Canada), CF Industries Holdings Inc. (U.S.), Eurochem (Russia), OCP (Morocco), Mosaic (U.S.), ICL (Israel), and Phosagro (Russia). This research report provides a comprehensive analysis of the global phosphatic fertilizers market, which witnesses faster growth on account of its diverse applications in the agriculture sector.