Market Research Future (MRFR) report on the global phosphates market share is a comprehensive evaluation that provides a thorough overview of the industry. The study covers the COVID-19 analysis of the global phosphates market and offers a broad summary of market segments, current trends, growth forecasts, and market challenges from forecast period to determine market opportunities.
Phosphates are inorganic minerals that are extracted from the deposits of clay. Phosphates are commonly used as phosphate ion compounds associated with elements such as potassium, ammonium, calcium, sodium, rubidium, and others. The ammonium phosphate segment accounted for most of the global market for phosphates in 2017 due to its increasing use in fertilizer production. Phosphates are used in fertilizers, food & beverage, detergents, water treatment chemicals, metal treatment, building and construction, pharmaceuticals, cosmetics, and personal care products industries, among others.
Market Scope
The global phosphate market is anticipated to achieve a stellar valuation by exhibiting a strong CAGR over the forecast period. It can accumulate a massive demand due to the expanding agriculture sector and presence of various agrarian nations. This is supported by the large population in China and India, increasing awareness among consumers, and rising demand for nutritious products. Phosphate is primarily used in the manufacture of fertilizers for cultivating crops and trees.
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High demand for the mineral in the food and beverage industry can drive overall market demand. Phosphate is included in eggs, meat, dairy products, bottled beverages, and carbonated soft drinks. The mineral is used as a leavening agent in baked goods. It is also used as an additive for maintaining the natural flavor of processed meats and extending its shelf life. Furthermore, applications of phosphate in building & construction, cosmetics & personal care, pharmaceuticals, metal treatment, and water chemicals can provide new growth opportunities for the global phosphate market.
However, side-effects of consumption of phosphate can dampen the market’s growth prospects.
Market Segmentation
Type and applications are parameters based on which the global phosphate market is assessed for better analysis.
The type-based segments of the phosphate market are potassium, phosphoric acid, ammonium, sodium, and calcium, rubidium among others. The potassium segment can gain decent traction for the market in the years ahead. Sodium and calcium segments are expected to earn high revenue for the market through the analysis period.
The application-based segments of the phosphate market are water treatment chemicals, detergents, fertilizers, metal treatment, food & beverage, pharmaceuticals, building & construction, and cosmetics & personal care among others. The fertilizer segment can contribute to the gradual rise of the market in the review period.
Regional Analysis
Europe, North America, Asia Pacific (APAC), and the Rest of the World (Row) are regions that are assessed by MRFR for the global phosphate market progress. The geography-based study of the market aids in uncovering demographic challenges that can impact the market in the approaching years.
In APAC market, the phosphate market can rise at high pace due to increase in demand for phosphate in crop production. The introduction of modern agriculture practices can support rise of the market in the years to come. Alongside, massive population of the region and strong support offered by the agrarian countries can aid phosphate suppliers gain precedence in the fertilizer sector. India can offer thrust to the regional market in the near period.
In North America, the phosphate market can rise at decent pace due to presence of booming food & beverage sector, alongside rise in investment for innovation in health and energy beverage. The growing need for phosphate in the agricultural sector can earn high revenue.
In Europe, the market can benefit substantially in the near future due to increase in demand for agricultural solutions. North America market can thrive in the near future, across France, Poland, and Germany among others. The surge in demand for phosphate in the manufacturing sector as household items utility is observed to surge in the years to come.
The rise in demand for nutritious foods among the growing fitness conscious populace can favor the regional market expansion in the near future. The extensive application of phosphate across the industrial belt can acquire high share of the market in the near future. Latin America and other regions, such as; the Middle East & Africa can hold decent share of the overall market in the study period. The expansion of the affluent food & beverage segment can also contribute to the substantial rise of the regional market in the near future.
Competitive Analysis=
Nutrien Ltd. (Canada), S.A OCP (Morocco), the Mosaic Company (US), Innophos Holdings, Inc. (US), Jordan Phosphate Mines Company PLC (Jordan), EuroChem (Switzerland), ICL (Israel), PhosAgro (Russia), Maaden-Saudi Arabian Mining Company (Saudi Arabia), and Avantor Performance Materials, LLC (US) are some top-notch companies in the global phosphate market that are assessed for the market.
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