Global Phosphate Rock Market Projected to be worth US$7180 mn by 2025 as Agriculture Industry Soars

Author: QYResearch  |   Published Date: 2019-06-20   |   Views: 153

QY Research provides an in-depth analysis of the global phosphate rock market by studying several elements of the market that have a kind effect on the growth of the market. These elements consist of trends, innovations, developments, market dynamics, and opportunities that influence the growth of the market in the coming years. This research study covers the forecast period of 2019 – 2025. 

The new report titled, “Global Phosphate Rock Market Report, History and Forecast 2014-2025”, is expected to reach US$7180 mn by 2025 from US$6710 mn in 2018. The market will register a sluggish CAGR of 1% throughout the forecast period. 

Global Phosphate Rock Market: Drivers and Restraints

The market will witness substantial growth in the coming years due to growing demand  for agricultural produce due to increasing population across the world. This is expected to raise the usage of phosphate fertilizers, which enhances the yield, thereby augmenting the market. Food production is rising in order to feed the growing population. Depleting arable land is expected to spike uptake of fertilizers to improve produce in the coming years. Phosphate is also used in animal supplements, which is further expected to create lucrative growth opportunities for the phosphate rock market in the near future. 

However, the shifting of consumers towards eco-friendly fertilizers will hamper the growth of the global phosphate rock market over the forecast period. 

Global Phosphate Rock Market: Segment Analysis

The global phosphate rock market is segmented into application and product type. The application segment includes detergent, fertilizer, animal nutrition, and others. Fertilizer segment is the largest segment in the phosphate rock market due to its high demand in developing nations of Asia Pacific. The product type segment includes igneous phosphate deposits, marine phosphate deposits, and others.

Global Phosphate Rock Market: Regional Outlook

Asia Pacific will witness significant growth in the near future due to growing industrialization and agriculture sector in emerging economies such as China and India. Exponential population growth and rising concerns of food security in these economies is expected to boost the market in the coming years.

Global Phosphate Rock Market: Key Players

GECOPHAM, OCP Group, Groupe Chimique Tunisien, Yunnan Phosphate Group, Copebrás (CMOC), The Mosaic Company, J.R. Simplot Company, Hubei Xingfa Chemicals, Ma'aden, Kailin Group, ICL Fertilizers, Wengfu Group, El Nasr Mining Company, PhosAgro, Vales, Nutrien, and Jordan Phosphate Mines are the top players that are operating in the global phosphate market. The global phosphate market is highly fragmented due to presence of multiple players in the market. Players are expected to focus on innovative products, mergers and acquisitions, advent of innovative technologies to stay ahead of the competition. The report offers a SWOT analysis and Porters Five Force Model to analyze the company profiles.

Full Report Overview@ https://www.qyresearch.com/index/detail/988817/global-phosphate-rock-market

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