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.
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.
Request PDF brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1424
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. Also, phosphorus promotes the development of roots, flowers, and fruits.
For gardeners who care about early harvests, phosphorus helps promote early
maturity. The ammonium phosphate segment is followed by the calcium phosphate
segment. The calcium phosphate segment is expected to expand at a significant
rate during the forecast period. Calcium phosphate is largely used to produce
animal feed products. Calcium phosphate is an essential nutrient in
animal diet. It ensures optimal growth of animals; improves gut functionality
and fertility; and enables bone development. Increase in the demand for
ready-to-eat meat products, owing to their high protein content is one of the
key factors driving the global calcium phosphate market.
Buy Now:
https://www.transparencymarketresearch.com/checkout.php?rep_id=1424<ype=S
Agriculture to be Dominant Application
of Phosphates Market
Based on
application, the global phosphates market has been segmented into building
& construction, agriculture, animal feed, personal care,
cleaners/detergents, food & beverages, pharmaceutical, and others. In terms
of consumption, the agriculture segment held a major i.e. more than 70% share
of the global phosphates market in 2018. This trend
is anticipated to continue throughout the forecast period. The agriculture
segment was followed by the animal feed segment, which accounted for more than 10% share
of the global phosphate market, in terms of consumption, in 2018. Increase
in the consumption of phosphate-based fertilizers and growing popularity of
animal feed, especially in Asia Pacific, are major factors driving the demand
for phosphates across the world.
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
Competition Landscape
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.
Request
Discount:
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=1424
Comments
Post a Comment