DUBLIN, April 28, 2022--(BUSINESS WIRE)--The "Global Phosphorus Fertilizer Market Outlook, 2027" report has been added to ResearchAndMarkets.com's offering.
According to the research report Global Phosphorus Fertilizer Market Outlook, 2027 the fertilizer market is anticipated to grow slowly at a CAGR of 3.88% by 2027.
Asia Pacific is dominant in the Phosphorus market globally. Plants need nitrogen, phosphorus and potassium for their growth but, nitrogen fertilizers are given more emphasis as they are needed in large quantities and give great response. Rock phosphates are used more with highest market share in 2021. Dry phosphatic fertilizers dominate the market. United States is the second largest phosphorus producer and consumer in the world. Russia accounts for only 3% of phosphorus fertilizer market share globally. Majority of phosphorus reserves are in China, Morocco, South Africa, Jordan and United States.
The world has limited rock phosphate reserves. The rock phosphate is mined in strip form and then pulverized. This is then treated with sulphuric, phosphoric or nitric acid to yield phosphorus based fertilizers. In the past, ground rock phosphate was used while today majority of phosphate fertilizers are manufactured from rock phosphate. Due to low and limited reserves high transport costs and reduced crop responses the use of phosphorus fertilizer has decreased. While, the use of phosphorus based fertilizers have increased. Phosphorus based fertilizers include Di-ammonium Phosphate DAP, Mono-ammonium Phosphate MAP, and others. DAP is the most common form of fertilizer used by farmers. Soil testing for adding phosphorus fertilizer determines the soil's ability to supply P for plant growth but cannot measure total quantity required.
DAP is excellent source of fertilizer for wheat, barley, fruits and vegetables. Most annual plants require phosphorus to grow. Plants that grow in cold temperatures like lettuce require high phosphorus levels. Likewise, legumes also require high phosphorus. Wines and other crops, especially grown in hot temperatures require less of phosphorus fertilizers.
Phosphatic fertilizers are more costly than urea. With the degrading quality of rock phosphates more energy is required to mine and process it. This processing results in more produce of heavy metals such as cadmium and uranium which are toxic. Moreover due to uneven geographical distribution high transportation costs are inevitable. However, sustainable phosphorus reserves can be achieved by efficient mining, use manure as fertilizer, make fertilizer use more targeted, recover phosphorus from human waste. Modern techniques of farming can increase absorption rate of fertilizers and also give increased yields.
Aspects covered in this report
Global Phosphorus fertilizer market with its value and forecast along with its segments
Regions covered in the report
Middle East & South Africa
By Product type in the report:
Others (Phosphate rock, superphosphate, other phosphatic fertilizer)
By physical formulation in the report:
SOCIEDAD QUIMICA Y MINERA DE CHILE
INDIAN FARMERS FERTILISER CO-OPERATIVE LIMITED (IFFCO)
CHAMBAL FERTILISERS & CHEMICALS LIMITED
Sichuan Chuanxi XIngda Chemical Corporation Limited
FoxFarm Soil & Fertilizer Corporation
For more information about this report visit https://www.researchandmarkets.com/r/i6tt0a
View source version on businesswire.com: https://www.businesswire.com/news/home/20220428006048/en/
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
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