The phosphate fertilizers market proficiently consists of sales of phosphate fertilizers. The Phosphate fertilizer manufacturers introduce the phosphatic fertilizer materials and several other phosphatic materials and blend them into fertilizers. However, the Ammonium phosphate, defluorinated phosphate, and di-ammonium phosphate are examples of the phosphate fertilizer segment.
The internatioal phosphate
fertilzers market was worth USD 65.69 billion in 2019. It is predicted to
increase at a compound annual growth rate (CAGR) of 7% and reach USD 84.04
billion by 2023. Whereas, the phosphate fertilzers market has been
geographically divided into North America, Western Europe, Asia-Pacific,
Eastern Europe, South America and Middle East & Africa. For instance, the
Asia Pacific accounts for nearly 42% of the market.
The World population is increasing
and is predicted to reach 10 billion by 2050 and is expected to expressively
boost the insecticides market. Increase in inhabitants creates more ultimatum
for food. Crop production, farming activities and trade volumes will have to
rise in order to meet augmented population. Additionally, the farmers and
commercial farming corporations will increase acquisitions in the arable land
to augment crop production, which is projected to increase the requirement for
herbicides. In order to meet the food requirement that may increase from 59% to
98%, farmers have to augment agricultural productivity through the fertilizers
and advanced technologies in farming. Thus, the increase in requirement for
food for the increasing population will endorse the growth of insecticides
market.
There has been a speedy increase in
introduction and exports of phosphates from China. During the past, there was
restricted supply of phosphate rock owing to limited production capability and
monopolistic pricing in most regions but, over the past few years there has
been a rapid augment in phosphate production in China. For example, during 2014
the world trade in diammonium phosphate and monoammonium phosphate was
projected to be around 24 million metric tonnes, of which China delivered 8
million tonnes. This is proficient given that ten years ago Chinese exports
were close to zero.
During August 2019, Ma'aden, a
Saudi Arabia-based mining and metallurgical company that concentrates in gold
mining, refining, phosphate mining and aluminum mining assimilated Meridian
Group for USD 140 million. The acquisition is projected to help Ma'aden in
solidification its position as the world's largest introducer and exporter of
phosphate fertilizers and improve its contribution in the worldwide food
security.
For More Information, Click on the Link Below:-
Global
Phosphate Fertilizers Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
No comments:
Post a Comment