Global phosphate rock market is expected to rise to register a substantial CAGR of 7.5% in the forecast period of 2019-2026. The high growth of this market is due to the expanding growth of phosphate rock in fertilizers industries and in chemical industries.

Market Definition: Global Phosphate Rock Market

Phosphate rock is a sedimentary rock mined from earth deposits. It contains a high measure of minerals and is mined and processed to form phosphoric acid and natural phosphorus. Prepared phosphate is utilized in different applications, for example, composts, creature feed, cleanser, nourishment and drinks, toothpaste, synthetic substances, and metal coatings.

Market Drivers:

Increase demand of phosphate in agriculture can boost the market growth
Rising demand of phosphate as an additive and preservative in food industries can fuel the market growth
Increasing demand of fertilizers will boost the market growth of phosphate rock
Phosphate-based chemicals used in making consumers goods which can drives the market growth

Market Restraints:

High cost as compare to phytase can hampers the market growth
Availability of substitutes will hinders the market growth

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Segmentation: Global Phosphate Rock Market

By Type

Marine Phosphate Deposits
Igneous Phosphate Deposits
Metamorphic Deposits
Biogenic Deposits
Weathered Deposit
Others

By Application

Fertilizer
Feed & Food Additive
Industrial
Chemicals
Others

End Use

Fertilizers
Animal Feed
Detergents
Food & beverages
Toothpaste
Chemicals
Metal Coatings
Others

By Geography

North America
U.S.
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
Australia
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia-Pacific
Middle East and Africa
South Africa
Egypt
Saudi Arabia
United Arab Emirates
Israel
Rest of Middle East and Africa

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Key Developments in the Market:

In May 2018, IFFCO, IPL acquired 37% stake in Jordan Phosphate Mines for USD 9.0 billion. The main aim for this acquisition is to ensure phosphate reserve security to Indian farmers and help them to achieve balanced use of fertilisers.
In June 2019, Itafos signs a multi-year phosphate rock supply agreement with the OCP group. The main aim for this agreement is for optimizing the finished fertilizer production with a multi-product portfolio of higher grade SSP.

Competitive Analysis:

Global phosphate rock market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of phosphate rock market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in the global phosphate rock market are PHOSPHATE RESOURCES LIMITED, The Mosaic Company, Itafos, Wengfu Group Co., Ltd., Grange Resources, Agrium Inc, Potash Corp, Nutrien Ltd., DOW, DuPont de Nemours, Inc., Yara, CF Industries Holdings, Inc., Coromandel International Limited, EuroChem Group, FOSFITALIA GROUP, ICL among others.