Phosphates Market: Introduction
In terms of value, the global phosphates market is anticipated to expand at a CAGR of ~4% from 2019 to 2027. Phosphates are largely used for production of phosphate fertilizers and animal feed products across the globe. Asia Pacific dominated the global phosphates market in 2018. China is anticipated to be a leading exporter of phosphates across the globe during the forecast period. Ammonium phosphates and calcium phosphates are the most widely consumed phosphates in developed as well as developing regions, in fertilizers and animal feed, respectively. The demand for phosphates in the industrial sector is less compared to fertilizers and animal feed, owing to availability of a large number of substitutes.
Request PDF Brochure : https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1424
Availability of Substitutes for Phosphates to Hamper Demand for Phosphates
High costs of phosphate salts, such as calcium phosphates and its derivatives, have led to increase in the usage of lower-cost substitutes such as phytase, which can be used as a means of controlling the overall animal feed cost. Furthermore, phytase can meet all functionalities of animal feed phosphates such as enhancing the digestive process, improving bone health, and promoting higher feed intake. Thus, phytase helps in the physical development of livestock and it is considered a major substitute for animal feed phosphates. A large number of substitutes are available for phosphate salts used in the industrial application. For instance, countries in Europe are planning to reduce the usage of sodium tripolyphosphate in detergents and switch to non-phosphate-based alternatives such as zeolite. Several alternatives for phosphates are available in the market. Phosphates perform a variety of functions. Alternative substances include chelating agents, surfactants, dispersant polymers, and enzymes. These provide the same functionality as that of phosphates. The availability of a large number of substitutes at a lower price is expected to hamper the demand for phosphates during the forecast period.
Explore Transparency Market Research’s award-winning coverage of the global Industry:
Ammonium Phosphate to be Leading Product Type in Phosphates Market
In terms of product, the global phosphates market has been segmented into ammonium phosphate, calcium phosphate, potassium phosphate, sodium phosphate, magnesium phosphate, single super phosphate, triple super phosphate, iron phosphate, and others. Ammonium phosphate was a major product type segment of the global phosphates market, accounting for more than 70% of the market share in 2018. It was followed by the calcium phosphate segment. Ammonium phosphate is used as a phosphate fertilizer. Increase in agricultural activities in order to meet the food demand has propelled the demand for fertilizers. Phosphorus, along with nitrogen and potassium, is one of the three key nutrients that plants require and it the major ingredient of phosphate fertilizers. Maintaining proper levels of phosphorus helps a plant acquire and store energy as well as transfer it throughout the plant.
Asia Pacific to be Lucrative Region of Global Phosphates Market
In terms of consumption, Asia Pacific dominated the global phosphates market in 2018. The market in the region is likely to expand at a significant pace from 2019 to 2027. Increase in agricultural activities and rise in the demand for animal feed products are major factors anticipated to fuel the demand for phosphates in Asia Pacific during the forecast period. China and India are key countries of the phosphates market in Asia Pacific. In terms of revenue, China is projected to be an attractive market for phosphates in Asia Pacific during the forecast period, owing to abundance of phosphorus reserves, presence of manufacturers of low-cost products, significant exports, and technological superiority of China over other countries in the region
The global phosphates market was fragmented in 2018, with the presence of a large number of global as well as local manufacturers. Major players operating in the market include The Mosaic Company, OCP, ICL, Nutrien Ltd., Prayon Group, JPMC, PhosAgro Group of Companies, and Eurochem. These companies have significant presence across the globe. Key manufacturers operating in the global phosphates market are The Mosaic Company, OCP, Israel Chemicals Ltd, Nutrien Ltd., Prayon Group, Jordan Phosphate Mines Company PSCL (JPMC), PhosAgro Group of Companies, Eurochem, Kazphosphate LLC, Maa’den, Sinochem Yunlong Co. Ltd., Yara International, Phosphea, Aditya Birla Chemicals (Thailand), Coromandel International Limited, Chemische Fabrik Budenheim KG, Aliphos, and Sichuan Blue Sword Chemical (Group) Co., Ltd.
Global Phosphates Market: Segmentation
Phosphates Market, by Type
- Ammonium Phosphate
- Monoammonium Phosphate
- Diammonium Phosphate
- Triammonium Phosphate Trihydrate
About Us :
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.