Press release
Phosphatic Fertilizers Market Growth, Size, Share, Demand, Trends and Forecasts to 2027
Phosphatic fertilizers are substances that are inclusive of phosphate, a material that is essential for the health of the root of the plant. The use of phosphatic fertilizers will lead to an increase in the overall efficiency of the root as well as the plant. The increasing demand for crops and crop produce across the world will create several growth opportunities for the companies operating in the market. The massive investments made in the research and development of newer phosphatic fertilizes will bode well for the market in them coming years. The presence of several large scale companies will constitute an increase in the overall market size in the foreseeable future.
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Increasing Number of Product Launches Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of product launches has made a huge impact on the growth of the market in recent years. In September 2016, ICL announced the launch of a new technology that will be used for the production of controlled release fertilizers. The company introduced ‘E-Max Release Technology’, a system that will release nutrients such as phosphate and nitrogen in a controlled manner. This product will help the company generate3 substantial phosphatic fertilizers market revenue in the coming years and will subsequently have a massive impact on the growth of the market.
North America Holds the Highest Market Share; Increasing Demand for Sustainable Crop Produce Will Aid Growth
The report analyses the ongoing phosphatic fertilizers market trends across North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America currently holds the highest market share, driven by the massive demand for crop and agricultural produce in several countries across this region. As of 2018, the market in North America was worth USD 7.54 billion and this value is projected to increase further in the coming years. Besides North America, the market Asia Pacific will witness considerable growth in the coming years, owing to the huge volume of area under cultivation.
A few of the leading companies that are currently operating in the global market include:
Yara International ASA
Israel Chemical Ltd.
The Mosaic Company
CF Industries Holdings, Inc.
Coromandel International Limited
The OCP Group
PhosAgro PJSC
Sociedad Química y Minera de Chile S.A.
Nutrien Ltd.
Koch Industries, Inc.
Industry Developments:
February 2019: ICL announced the launch of two new add-ons to its range of phosphatic fertilizers. The company introduced Renovator and Turf Starter contain Pearl Technology.
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