Boston, MA -- (SBWIRE) -- 05/14/2014 -- Phosphate Fertilizers Market By Active Ingredient (Diammonium Phosphate, Monoammonium Phosphate, Triple Superphosphate, Single Superphosphate, Superphosphate, Calcium Phosphate), By Crop Type Cereals & Grains, Oil Seeds, Fruits & Vegetables), By Geography: Trends & Forecasts To 2018
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.
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Commercial phosphate fertilizers are manufactured using phosphate rock. Approximately two- third of the worlds' phosphate resources are derived from sedimentary and marine phosphate rock deposits, andabout 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 phosphaticfertilizer 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 rationalizedmarket,individual companieshave their competitive advantage in the market when supplying phosphatic fertilizers.
PHOSPHATIC FERTILIZERS MARKET SHARE (REVENUE), BY GEOGRAPHY, 2012
In 2012, the global phosphorous fertilizer marketgenerated 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 superphosphatewith 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.
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