Phosphate Rocks Market | Industry Shares, Opportunities, Development Status, Key Findings and Growth Forecast to 2030
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Some of the prominent players in the global phosphate rocks are Nutrien Ltd. (Canada), Phosphate Resources Limited (Australia), Jordan Phosphate Mines Co (Jordan), Itafos (Canada), GCT (Saudi Arabia), OCP (South Africa), The Mosaic Company (US), Anglo American (UK), PhosAgro (Russia), and Maaden - Saudi Arabian Mining Company (Saudi Arabia).
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By application, the global phosphate rocks market has been segmented into fertilizers, animal feed supplements, chemicals, food preservatives, water treatment, fungicides, cosmetics, detergents, and others. Among these, the fertilizers segment dominated the global market in 2018 due to the extensive use of phosphorous in nitrogen, phosphorous, and potassium (NPK) fertilizers across the globe. The demand for NPK fertilizers is increasing as the components offer a number of benefits together, wherein nitrogen is responsible for the growth of leaves on the plant; phosphorus enhances root growth and flower and fruit development; whereas potassium is a nutrient that helps the overall functions of the plant perform correctly.
• In January 2019, The Mosaic Company, a miner and provider of phosphate fertilizers, entered into a memorandum of understanding (MOU) with Sinochem, China’s largest agricultural inputs company, wherein Sinochem aims to purchase phosphate rock and phosphate fertilizers, including premium products, from Mosaic.
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