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Phosphate Market Outlook 2019 - 2023 Industry Trends Report by Mosaic Company, S.A OCP, Nutrien, EuroChem, Innophos Holdings, ICL, Jordan Phosphate Mines Company PLC, PhosAgro, Maaden-Saudi Arabian Mining Company and Avantor Performance Materials, LLC
Phosphate Market Prophesied to Perceive Burnished Growth by 2023
Geographically, Asia Pacific region accounted largest market share in the Global Phosphate market and expected to dominate during the forecast period due growing animal feed, food and chemical in the region. China being largest consumer, manufacturer and exporter of phosphate. India accounted second largest market share by value and volume in Asia Pacific region, and expected to grow with highest annual growth rate due to growing government initiative for quality animal feed in the countries and growing food demand in the due to rising population.. In addition to this, North America & Europe have witnessed incremental growth in phosphate market.
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Market Synopsis of Phosphate Market
Globally, the market for phosphate is growing due to intensity of competitive rivalry in the Phosphate market is moderate to high. The phosphate market is witnessing a high growth which is projected to continue in the near future, mainly driven by types of Phosphate utilized, such as Rock, Acid, Fertilizer, and others. The high growth potential of the end-user industries for the above mentioned types is driving the market for phosphate in Asia.
On the Basis of Geography, Asia-Pacific has accounted as the leading region in terms of value and volume. China and India contribution to the regional as well as global market is very much appreciated. Addition to this America and Europe has also played a major role in the growth of market.
The Global Phosphate Market size is expected to cross USD 82.11 billion at CAGR of 2.8% by 2022.
Competitive Landscape:
The MRFR studies the key developments adopted by the companies between 2011 and 2016. Players in this market adopted various strategies to expand their footprint and augment their market share. The key strategies followed by most companies in the global phosphate market were agreements and collaborations, mergers and acquisitions, joint ventures and expansion. Due to growing demand of phosphate consumption in Asia Pacific region, the manufacturers in European region are expected to use acquisition strategy in the Asia Pacific and global market in future. Key major player are looking at the acquisition of the small manufacturers in China and Asia Pacific region to increase their market share in Asia Pacific region.
Industry/ Innovation/ Related News:
November 2016 – Belgian phosphate producer EcoPhos has signed a joint venture agreement with Egypt’s Evergrow to build a dicalcium phosphate plant as part of a 50:50 joint venture. The venture will construct a plant in Sadat City, 95 km from Cairo, to produce 110,000 t/y DCP for animal feed. The complex will also comprise plants to produce 100,000 t/y low-cadmium fertilizer, 198,000 t/y sulfuric acid and 60,000 t/y calcium chloride. The overall investment costs are estimated at $120 million. The joint venture will fulfill the growing demand of di-calcium phosphate in the region and will help the company to increase its market share across the globe.
March 2016 – Gujarat Narmada Valley Fertilizers & Chemicals Ltd and EcoPhos of Belgium planned to invest about rupees 526 crore for setting up a plant to produce 200,000 metric tonne per annum (MTPA) of animal feed grade di-calcium phosphate at Dahej, Gujarat. Two companies had signed a memorandum of understanding for the formation of joint venture in September 2014. GNFC will provide the raw materials for the JV project, EcoPhos will market the output of the JV’s production site at Dahej through its animal feed division. The agreement would help the company to increase its market share in Asia Pacific and Europe region.
June 2017 – Sinochem Yunlong produced a record high of 306,200 tons of Monocalcium/Dicalcium Phosphate in 2016. Sinochem Yunlong adhered to internal management improvement, enhanced quality and efficiency, continued to push forward cost and consumption reduction and increased production efficiency. At the same time, Sinochem Yunlong strengthened process management, promoted quality enhancement and intensified the whole-process quality management. The average first acceptance rate in 2016 was above 99.6% and the product quality reached an internationally advanced level.
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