Press release
Phosphate Fertilizer Market to Reach USD 67.6 B by 2030 at ~6% CAGR
Phosphate Fertilizer Market
According to Grand View Research, the global Phosphate Fertilizer market generated revenue of approximately USD 42.43 billion in 2022 and is forecast to reach USD 67.62 billion by 2030, expanding at a solid 6.0% compound annual growth rate from 2023 through 2030
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Market Overview & Growth Drivers
Grand View places global revenue at ~USD 61.6 B in 2021, growing to USD 176.06 B by 2040 at 5.7% CAGR .
A mid‐term forecast by Spherical Insights expects the market to rise to USD 119.5 B by 2033, at about 5.73% CAGR between 2023-2033
Key drivers include rising global food demand, government support, population growth, adoption of precision agriculture, and nutrient management trends
Competitive Landscape
The phosphate fertilizer industry is highly competitive. Leading players include Yara International ASA, Nutrien Ltd., OCP Group, The Mosaic Company, EuroChem Group AG, ICL Group, PhosAgro, CF Industries Holdings, and Coromandel International Limited
These companies pursue growth through product innovation, capacity expansion, and strategic partnerships.
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Regional Demand & Higher Growth Region
Asia‐Pacific dominates with over ~45-60% of global revenue (e.g. 58.7% in 2023), and is anticipated to remain the fastest-growing region, buoyed by large-scale agricultural activity in China, India, and Southeast Asia
North America holds ~10-20% share, with moderate but stable growth, spurred by precision fertilizer use in high-value crops
Europe shows steady uptick (~4.8-6% CAGR), supported by sustainable farming policies and precision agriculture mandates under the EU Green Deal
COUNTRY‐SPECIFIC INSIGHTS
Vietnam Opportunity Growth
Vietnam contributes ~1.2% of global phosphate production reserves and is advancing fertilizer usage to support its expanding crop and food security needs
Thailand Trends Growth
Thailand is intensifying its use of phosphate fertilizers in high-value crops, supported by electronics and agro-exports fueling domestic demand.
Japan Consolidation Growth
Japanese distributors partner with global suppliers (Yara, OCP) to bring high-grade MAP and DAP into precision-farming initiatives.
South Korea Updation Innovation
South Korea is integrating coated or slow-release phosphate formulations to comply with environmental regulations and nutrient management goals.
Singapore Benchmarking Opportunity
Singapore's limited agriculture focuses phosphate imports into high-value horticulture and greenhouse use, following stringent regulatory standards.
United States Consolidation Trends
In North America, major players like Nutrien, The Mosaic Co., and EuroChem are consolidating production and distribution capabilities to support scale and precision agriculture initiatives
Growth in China Trends
China is the world's leading phosphate producer (~44% of global output) and is projected to lead market growth through 2030, fueled by food security, high crop intensity, and state support
Opportunity & Compliance in Europe
Europe, led by Germany and France, emphasizes eco-fertilizers and nutrient efficiency under EU regulations, promoting adoption of MAP/DAP aligned with sustainable agriculture practices
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-phosphate-fertilizer-market/25781/
Phosphate Fertilizer Market Segment Analysis:
by Type
Monoammonium Phosphate (MAP)
Diammonium Phosphate (DAP)
Single Superphosphate (SSP)
Triple Superphosphate (TSP)
Others
by Deployment Mode
Fertigation
Foliar
Soil
by Solubility
Water Soluble
Citric Acid Soluble
Water and Citric Acid Insoluble
by Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
Mergers & Acquisitions Highlights
EuroChem acquired K+S Nitrogen in 2012 and later a stake in Brazil's Serra do Salitre phosphate project (~350 Mt reserves), and finalised Fertilizantes Heringer acquisition in 2021 to strengthen global reach
Nutrien, formed via Agrium‐PotashCorp merger (2018), expanded further by acquiring Brazilian fertilizer distributor Casa do Adubo in 2022, enhancing Latin America footprint
Key Recent Developments
Incitec Pivot (soon Dyno Nobel) has launched asset divestitures of its fertilizer business-including its Phosphate Hill mine and Gibson Island distribution-to focus on explosives, with valuations around USD 1.1B and sales process set for 2025. Buyers likely include Nutrien, Mosaic, and CF Industries
Sustainability initiatives are advancing coated and slow-release phosphates, bio-based alternatives, and zero-runoff nutrient management aligned with environmental compliance trends globally
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