Global Phosphate Fertilizers Market 2019-2023|Industry Analysis and Forecast| Technavio
LONDON--(BUSINESS WIRE)--Dec 27, 2018--The global phosphate fertilizers market research report by predicts the market to post a CAGR of more than 3% during the period 2019-2023.
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Technavio has released a new market research report on the global phosphate fertilizers market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global phosphate fertilizers market is the increase in the ever-rising demand for food. The ever-rising global population has resulted in food security concerns and agricultural development. The growing food shortage and shrinking arable land have led to heavy dependence on phosphate fertilizers globally. The phosphate fertilizers contain essential nutrients and are used to maximize yield per crop and productivity of the land, in addition to enhancing resistance to diseases.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing phosphate rock mining as one of the key trends in the global phosphate fertilizers market:
Global phosphate fertilizers market: Increasing phosphate rock mining
Phosphorite, rock phosphate, or phosphate rock is a sedimentary rock, which contains a high amount of phosphate minerals. The major phosphate-bearing rocks in the world are limestone and mudstone. The phosphate rock mining is done to extract phosphorous that is used for the production of fertilizers, animal feed supplements, and industrial chemicals.
“Phosphate fertilizers are primarily obtained from phosphate rocks that are mined globally from open pits and quarries. The agricultural industry is one of the major markets that depends substantially on phosphate rocks to produce phosphate fertilizers and NPK fertilizers,” says a senior research analyst at Technavio.
Global phosphate fertilizers market: Segmentation analysis
This phosphate fertilizers market analysis report segments the market by application (cereals and grains, oilseeds, fruits and vegetables, and others) and geography (the Americas, APAC, and EMEA).
The cereals and grains segment held the largest phosphate fertilizers market share in 2018, accounting for approximately 39% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with over 59% of the market share, followed by the Americas and EMEA, respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS NATURAL RESOURCES AGRICULTURE MINING/MINERALS
SOURCE: Technavio Research
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PUB: 12/27/2018 12:09 PM/DISC: 12/27/2018 12:09 PM