Phosphatic Fertilizer Market Size, Share, Outlook, and Industry Study Report

Global phosphatic fertilizer market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Phosphate is an important element for plants maturation, root development, and seed development. It is a major nutrient necessary for plants to grow to their potential.it is produced by adding acid to pulverized or ground phosphate rock.

The factors that are playing a major role in the growth of the market are limited availability of arable land, growth in diversified food demand and population, and the rising meat consumption boosts the demand for fertilizers. However, the presence of substitutes like organic fertilizer industry and the strict government policy against harmful chemicals may restrain overall market growth in the years to come. Phosphatic fertilizer market is segmented based on type, crop type, and region.

Superphosphate, diammonium phosphate, mono-ammonium phosphate, and other types could be explored in phosphatic fertilizer in the forecast period. Monoammonium phosphate sector accounted for the substantial market share of phosphatic fertilizer in terms of revenue. The sector is estimated to grow at the highest CAGR in the years to come. In addition, ammonium phosphate sector is estimated to grow at the fastest pace in the years to come.

Get Sample Copy of this Report @

https://www.millioninsights.com/industry-reports/phosphatic-fertilizer-market/request-sample

Based on crop type, fruit & vegetable, grain & oilseed, and other crop types could classify phosphatic fertilizer market in the forecast period. Grain & oilseed sector accounted for the substantial market share of phosphatic fertilizer and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of huge populace in developing countries.

The market is segmented geographically into Americas (North America, South America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).

Globally, Asia Pacific accounted for the substantial market share of phosphatic fertilizer and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of a huge population in developing countries like China and India and the growing demand for diversified food. India is the largest importer and major consumer of diammonium phosphate (DAP) fertilizers. However, Central & South America are estimated to grow at the highest CAGR in the forecast period.

The key players of phosphatic fertilizer market are PJSC PhosAgro, Eurochem Group AG, S.A OCP, Agrium Inc., The Mosaic Co., and Potash Corp. of Saskatchewan Inc., Coromandel International Ltd., Yara International ASA, Israel Chemicals Ltd., and CF Industries Holdings Inc. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

Browse Related Category Market Reports @
https://www.millioninsights.com/industry/agriculture