Global Single Superphosphate (SSP) Market to Grow from USD 5.4 Billion to USD 6.4 Billion by 2032 at 4.9% CAGR - SSP Market Forecast Highlights Rising Demand

According to a new report by Maximize Market Research, the global Single Superphosphate (SSP) market was valued at USD 5.4 billion in 2024 and is projected to reach USD 6.4 billion by 2032, registering a CAGR of 4.9% from 2025 to 2032.

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♦ Key Highlights
Market size and CAGR: USD 5.4 billion (2024) to USD 6.4 billion (2032), 4.9% CAGR

Leading application segment: Agriculture-particularly cereals, pulses, oilseeds, fruits, and vegetables

Fastest-growing / largest regional market: Asia-Pacific holds the highest share and is expected to dominate growth

Key drivers:

Increased adoption due to affordability and sulfur content correcting soil deficiencies

Growth in production capacity and government subsidies in developing economies

Restraints: Preference shifting toward higher-efficiency fertilizers like DAP and NPK; raw material price volatility (rock phosphate); distribution infrastructure challenges

Trends / Opportunities: Granulated SSP gaining traction for ease of use and storage; sustainable and integrated nutrient management practices boosting demand

Top companies: Madhya Bharat Agro Products Ltd; Potash Corporation of Saskatchewan; CF Industries Holdings Inc; Coromandel International Ltd; Yara International ASA; Jubilant Industries Ltd; The Mosaic Company; OCP; PCC Group; among others

♦ Top Companies: Includes Magnesium Elektron, Ka Shui International Holdings Ltd., Magontec, U.S. Magnesium LLC, Nanjing Yunhai Special Metals Co. Ltd., Meridian Lightweight Technologies, Advanced Magnesium Alloys Corporation (AMACOR), Shanghai Regal Magnesium, Shanxi Yinguang Huasheng, Shanxi Credit Magnesium, Dynacast, Shanxi Fugu Tianyu Mineral, POSCO, China Magnesium Corporation, Dead Sea Magnesium, Spartan Light Metal Products, Smiths Advanced Metals, Rima Group, Yee Dongguan Science & Technology, Taiyuan Tongxiang Magnesium.

♦ Market Outlook

The global SSP market is expected to grow steadily, expanding from USD 5.4 billion in 2024 to approximately USD 6.4 billion by 2032, at a compound annual growth rate of 4.9% . Demand is anchored in the fertilizer's cost-effectiveness and dual nutrient offering-phosphorus and sulfur-which addresses widespread soil deficiencies in developing agricultural regions. Production enhancements and government subsidies further strengthen supply and accessibility.

♦ Regional Insights

Asia-Pacific leads the global market in both current share and expected growth, propelled by robust agricultural sectors and strong policy support, notably in countries like India and China where subsidies for phosphatic fertilizers are significant . North America also contributes substantially, particularly for SSP applications in tobacco, cotton, vegetables, and fruit cultivation.

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♦ Drivers, Restraints & Trends

♦ Drivers:

Sulfur-enriched fertilization addressing soil health

Government support via subsidies and policy initiatives

Shift to granulated formulations for efficiency and reduced waste

♦ Restraints:

Competition from higher-nutrient fertilizers (DAP, NPK)

Raw material supply and price instability

Infrastructure and awareness gaps in remote regions

♦ Trends:

Adoption of sustainable, integrated nutrient management

Emphasis on soil health through cost-effective fertilizer solutions

♦ Key Players

Several multinational and regional players dominate the SSP landscape, leveraging production capacity and distribution networks. Notable companies include Madhya Bharat Agro Products Ltd, Potash Corporation of Saskatchewan, CF Industries, Coromandel International, Yara International ASA, Jubilant Industries Ltd, The Mosaic Company, OCP, PCC Group, and others. Competitive strategies span capacity expansion, cost-effective technologies, and market penetration through partnerships and export channels.

♦ Quote

"Given its affordability and dual nutrient benefits, Single Superphosphate (SSP) is poised to remain a cornerstone fertilizer-especially in emerging economies," said an industry analyst. "With rising government subsidies, growing awareness of soil health, and the shift toward granulated SSP, we expect the market to sustain its growth trajectory over the next decade."

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This release was published on openPR.