Phosphate Rock Global Market Report 2024

Phosphate rock is a type of rock characterized by a significant presence of calcium phosphate along with other minerals such as calcium carbonate. This rock serves as a raw material in the production of calcium phosphate nutritional supplements designed for animals.

The primary types of phosphate rock are marine phosphate deposits, igneous phosphate deposits, and other variations. Marine phosphate deposits consist primarily of marine phosphorite from the continental shelf, containing synsedimentary, stratiform, and dispersed uranium in fine-grained apatite. These phosphate rocks find various applications, including their use in fertilizers, food and feed additives, industrial processes, and other applications. The distribution of phosphate rock products occurs through both online and offline channels, meeting the diverse needs of industries and sectors relying on these materials.

The phosphate rock market research report is one of a series of new reports from The Business Research Company that provides phosphate rock market statistics, including phosphate rock industry global market size, regional shares, competitors with a phosphate rock market share, detailed phosphate rock market segments, market trends and opportunities, and any further data you may need to thrive in the phosphate rock industry. This phosphate rock market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The phosphate rock market size has grown strongly in recent years. It will grow from $25.45 billion in 2023 to $26.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. Historical growth can be attributed to several factors such as the agricultural revolution and subsequent demand for fertilizers, the expansion of agricultural practices, increasing population and food demands, the development of phosphate-based chemicals, and the global trends of industrialization and urbanization.

The phosphate rock market size is expected to see steady growth in the next few years. It will grow to $30.02 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The projected growth in the upcoming period is fueled by ongoing research and development in phosphate-based chemicals, regulatory shifts within the fertilizer industry, increasing demand in emerging markets, a transition toward sustainable mining practices, and the expanding applications in water treatment and industry. Major trends expected during this forecasted period encompass market demands in developing economies, the influence of climate change on agriculture, evolving environmental concerns and regulatory landscapes, a heightened focus on precision agriculture, and a rising demand for bioenergy crops.

The anticipated increase in food and feed production is set to drive the growth of the phosphate rock market in the foreseeable future. Feed production involves the transformation of unprocessed agricultural goods into animal feed, while food production involves converting raw ingredients into consumable food products. This process contributes to the demand for phosphate rock as fertilizers are used more extensively to enhance food production. As per the India Brand Equity Foundation, a government export promotion agency, The Economic Survey of India 2020-21 reported a notable increase in the country's total food grain production in FY20, reaching approximately 296.65 million tonnes, marking an increase of 11.44 million tonnes. This surge in food and feed production is expected to be a significant driver propelling the growth of the phosphate rock market.

The anticipated growth in population is expected to drive the expansion of the phosphate rock market in the future. Population, denoting the total number of individuals residing in a specific geographical area or region at a given time, is a crucial demographic factor influencing the demand for resources. As the population continues to rise, there is an increasing demand for phosphate rock, primarily utilized as a fertilizer for enhancing food production and improving crop yields. For example, as of January 2022, the United States Department of Commerce reported a population of 332,403,650 in the United States, reflecting a 0.21% increase from the previous year. This upward trend in population growth emerges as a key driver propelling the growth of the phosphate rock market.

The phosphate rock market is witnessing a surge in the adoption of innovative approaches for recycling phosphorus, emerging as a prominent trend. Leading companies in the phosphate rock market are actively exploring inventive strategies to enhance their market standing. A case in point is OCP Group, a Morocco-based company engaged in phosphate rock operations. In November 2021, OCP Group joined the European Sustainable Phosphorus Platform (ESPP), signaling its commitment to advancing sustainable phosphorus management. Through this collaboration, the partners are actively working on pioneering methods for recycling phosphorus, aligning with a forward-looking vision for long-term phosphorus sustainability. This initiative reflects the industry's dedication to environmentally responsible practices and underscores the growing significance of sustainable solutions in the phosphate rock market.

Major players in the phosphate rock market are directing their efforts towards the introduction of advanced solutions, with a notable emphasis on organic minerals, to deliver dependable services to their customers. Organic minerals, formed through biological processes or the presence of biological material, are at the forefront of these innovative approaches. Illustratively, in April 2022, Phosphea, a France-based company specializing in phosphates for Animal Nutrition, unveiled HumIPHORA. This organic-mineral, a type of phosphate, serves as a source of mineral phosphorus while providing an antinutritional effect of calcium to animals. HumIPHORA, when combined with other nutrients such as proteins, ortho-phosphates, or phytic acid, can undergo complexation. This product is employed as calcium humophosphate in animal feed materials, reflecting the industry's commitment to delivering advanced solutions that enhance nutritional outcomes for animals.

In September 2021, Yara Suomi Oy, a leading Norwegian enterprise specializing in crop nutrition solutions and precision farming, successfully completed the acquisition of Ecolan Oy for an undisclosed sum. This strategic move empowers Yara to fortify its standing in the organic fertilizer sector, positioning the company as a key player in the realm of organic farming and advancing its contributions to the circular economy. Ecolan Oy, a Finland-based firm renowned for its production of agricultural fertilizer and groundworks products within the phosphate rock market, now forms an integral part of Yara's expanded portfolio and strategic initiatives.

Major companies operating in the phosphate rock market report are Petroleo Brasileiro S.A., Indian Farmers Fertilizer Cooperative Limited, Vale Fertilizers and Energy Ltd., Nutrien Ltd., Yara International ASA, Mosaic Company, Rashtriya Chemicals & Fertilizers Ltd., Pradeep Phosphates Limited, OCP Group, EuroChem Group AG, ICL Group, PhosAgroCo., Coromandel International Limited, Krishak Bharati Cooperative Limited, Arab Potash Company, Deepak Fertilizers and Petrochemicals Corporation Limited, Sinochem Group, Uralchem Group, JSC Belaruskali, Misr Phosphate, Hubei Xingfa Chemicals Group Co. Ltd., Wengfu Group Co. Ltd., Savannah Resources PLC, Rock Phosphate Limited, Sam Phosphate Kenya Ltd., Nauru Phosphate Removal Company, Arif Phosphate Limited, Hindustan Fertilizers Limited

Asia-Pacific was the largest region in the phosphate rock market in 2023. The regions covered in the phosphate rock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the phosphate rock market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The phosphate rock market consists of sales of quartz, clay, calcite, and dolomite. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Phosphate Rock Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on phosphate rock market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for phosphate rock ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The phosphate rock market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Marine Phosphate Deposits; Igneous Phosphate Deposits; Other Types
• 2) By Application: Fertilizers; Food And Feed Additives; Industrial; Other Applications
• 3) By Distribution Channel: Online; Offline
• Companies Mentioned: Petroleo Brasileiro S.A.; Indian Farmers Fertilizer Cooperative Limited; Vale Fertilizers and Energy Ltd.; Nutrien Ltd.; Yara International ASA
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.