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Global Phosphate Rock Market Global Outlook, Development, Share Analysis And Future Forecast To 2033
Global Phosphate Rock Market
As per the report, 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%. 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%.
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Phosphate Rock Market Growth Fueled By Soaring Food And Feed Production Demands
An increase in food and feed production is expected to propel the growth of the phosphate rock market going forward. Feed production is the process of creating an animal feed from unprocessed agricultural goods. The process of making food helps the phosphate rock market by turning edible raw ingredients into consumable food products, which need to use fertilizer more frequently to increase food production. For instance, according to the India Brand Equity Foundation, an Indian government export promotion agency, The Economic Survey of India 2020-21 report stated that in FY20, nearly 296.65 million tones of the total food grain production in the country was recorded, which was up by 11.44 million tones. Therefore, an increase in food and feed production is expected to propel the growth of the phosphate rock market.
Innovative Recycling Trends In The Phosphate Rock Market
Developing innovative ways to recycle phosphorous is a key trend gaining popularity in the phosphate rock market. Major companies operating in the phosphate rock market are looking for innovative ways to strengthen their position in the market. For instance, in November 2021, OCP Group, a Morocco-based company operating in phosphate rock became a member of the European Sustainable Phosphorus Platform (ESPP) to promote and develop sustainable phosphorus management. The partnership is developing innovative ways of recycling phosphorous that contribute to a long-term vision for phosphorus sustainability.
The phosphate rock market covered in this report is segmented -
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
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Major companies operating in the phosphate rock market report are Petróleo 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
Contents of the report:
1. Executive Summary
2. Phosphate Rock Market Report Structure
3. Phosphate Rock Market Trends And Strategies
4. Phosphate Rock Market - Macro Economic Scenario
5. Phosphate Rock Market Size And Growth
…..
27. Phosphate Rock Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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