Global Phosphate Rock Market Booming Market Growing by 2026 with Top Key Players

Market Analysis: Global Phosphate Rock Market

Global phospate Rock Market is expected to rise to register a substantial CAGR of 7.5% in the forecast period of 2019-2026. The high growth of this market is due to the expanding growth of phosphate rock in fertilizers industries and in chemical industries.

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Key Developments in the Market:

• In May 2018, IFFCO, IPL acquired 37% stake in Jordan Phosphate Mines for USD 9.0 billion. The main aim for this acquisition is to ensure phosphate reserve security to Indian farmers and help them to achieve balanced use of fertilisers.
• In June 2019, Itafos signs a multi-year phosphate rock supply agreement with the OCP group. The main aim for this agreement is for optimizing the finished fertilizer production with a multi-product portfolio of higher grade SSP.

Market Definition: Global Phosphate Rock Market

Phosphate rock is a sedimentary rock mined from earth deposits. It contains a high measure of minerals and is mined and processed to form phosphoric acid and natural phosphorus. Prepared phosphate is utilized in different applications, for example, composts, creature feed, cleanser, nourishment and drinks, toothpaste, synthetic substances, and metal coatings.

Market Drivers:

• Increase demand of phosphate in agriculture can boost the market growth
• Rising demand of phosphate as an additive and preservative in food industries can fuel the market growth
• Increasing demand of fertilizers will boost the market growth of phosphate rock
• Phosphate-based chemicals used in making consumers goods which can drives the market growth

Market Restraints:

• High cost as compare to phytase can hampers the market growth
• Availability of substitutes will hinders the market growth

Segmentation: Global Phosphate Rock Market

By Type

• Marine Phosphate Deposits
• Igneous Phosphate Deposits
• Metamorphic Deposits
• Biogenic Deposits
• Weathered Deposit
• Others

By Application

• Fertilizer
• Feed & Food Additive
• Industrial
• Chemicals
• Others

End Use

• Fertilizers
• Animal Feed
• Detergents
• Food & beverages
• Toothpaste
• Chemicals
• Metal Coatings
• Others

Competitive Analysis:

Global phospate Rock Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of phosphate rock market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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