Market Overview

Market Research Future (MRFR) announces the publication of its research report Global Phosphate Market, 2023.

Phosphates are forms of the element phosphorus, found in clay deposits of phosphate minerals. Phosphate is used for the manufacturing of phosphorous, which find wide applications in the agriculture and chemical industry. The global phosphate market is a slow but persistently growing market owing to the critical nature of the element phosphorous for the modern industry and agriculture.

According to Market Research Future (MRFR), the global phosphate market is expected to garner a single-digit CAGR over the assessment period (2016-2023). Extensive uptake of phosphate in the chemical and agriculture sectors are the prime determinants of the substantial market demand.

Morocco commands the position as the most significant global producer as well as exporter of phosphates. Other important producers are the US, Egypt, China, Israel, Western Sahara, Tunisia, Kazakhstan, Australia, and Jordan, which possess commercially large phosphate mining sectors.

Persistent demand from the chemical and agriculture sector is the prime determinant of the market demand. Thus, the prosperity of these sectors correlates with the market demand and, consequently, price commanded by the global phosphate industry. Phosphate plays an important ecological and biological role resulting in it being a critical element in the fertilizer industry. Phosphate is a limiting and essential nutrient in agriculture and aquaculture as it governs the rate of organism growth.

Leading Players:

Players leading the global phosphate market include Avantor Performance Materials, LLC (US), Maaden-Saudi Arabian Mining Company (Saudi Arabia), Mosaic Company (US), ICL (Israel), Nutrien Ltd. (Canada), Jordan Phosphate Mines Company PLC (Jordan), EuroChem (Switzerland), Innophos Holdings, Inc. (US), PhosAgro (Russia), SA OCP (Morocco), among others.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/phosphate-market-1921






Global Phosphate Market – Regional Analysis

The Asia Pacific region commanded the largest share of the global phosphates market in 2017, the fastest growing trend which shows no sign of slowing in the immediate future. This large and growing agriculture sector owing to the rising population is driving a persistent demand for phosphate-based fertilizers. The various schemes of the Governments to stimulate agriculture is driving a consistent growth of the market.

North America and Europe account for considerable markets for phosphates owing to their large-scale agriculture sector. In addition to agriculture, another industry such as soap and detergent is another driver of the phosphates market.

The Latin American market is also driving a large market owing to the rising consumption of food resulting in greater use of fertilizers.

Global Phosphate Market – Competitive Landscape

The phosphate market is highly fragmented and competitive due to the presence of several big and small players. Phosphate is a high-volume low-value material resulting in high transportation costs. Thus, the economy of scale is a prime strategy employed by firms. End users are also using demand pooling so as to gain control of stock material at a lower cost. The little if any product differentiation results in a price being the prime value proposition. Thus, the industry is reeling under heavy pricing pressure.

A sizeable industry is under government control as state-run enterprises owing control of mines. A large number of state own fertilizer companies are an influential buyer in the market. Thus, the market resembles a semi-monopoly resulting in inefficiencies. Geopolitics also plays an important part as only a few regions contain rich ores that can be extracted economically.

Producers of phosphate are employing services such as free on-board shipping and reasonable credit so as to attract and gain large customers.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1921

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: [email protected]