Market Summary
Global Phosphate Market Overview
Phosphate Market Size was valued at USD 50,410.0 million in 2022. The Phosphate industry is projected to grow from USD 52,764.2 million in 2023 to USD 68,897.3 million by 2030, exhibiting a compound annual growth rate (CAGR) of 3.88% during the forecast period (2023 - 2030). The key factor driving the growth of the Phosphate Market is the growing demand from key end-users such as fertilizers and detergents. Strong agriculture production, boosted by high crop prices, is expected to contribute significantly to phosphate demand throughout the forecast period. Also, applications such as detergents and water treatment chemicals are gaining importance due to phosphate's extensive range of properties. Furthermore, the growing usage of phosphate in food processing applications is likely to propel the global market in the coming years.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Phosphate Market Trends
-
GROWING DEMAND FOR FERTILIZERS
Phosphorus is a essential element for sustaining life and is abundantly available on our planet ranking eleventh in terms of availability. According to the data published by United States Geological Survey, there are large number of phosphate reserves that can sustain global production for about 1,200 years at the current rate of extraction. In agriculture phosphorus plays an important role as it is necessary for achieving optimal food production. When soils are deficient in phosphorus crop yields can be limited unless phosphate fertilizers are applied thus driving the demand for phosphate fertilizers. Currently majority of phosphate fertilizers are derived from naturally occurring phosphorus containing minerals.
Phosphorus is an essential nutrient for life. However it is not readily available to plants. To make it accessible to plants phosphate rock typically needs to undergo processing to convert the phosphorus into water soluble or plant-available forms. There are various methods to process phosphate rock into fertilizers. While there are natural organic sources of phosphate, such as bone meal, manure, guano, and urban waste, their commercial significance is relatively minor. This is primarily due to their higher cost per nutrient unit and the fact that the potential supply of these sources is only a fraction of the raw materials needed to produce the amount of phosphate-based fertilizers used globally.
GROWING INVESTMENTS IN THE DEVELOPMENT OF WATER TREATMENT INFRASTRUCTURE
Phosphates are used to treat water in a variety of ways. They are used to prevent red (iron) and black (manganese) water as well as to prevent or delay scale development (from minerals accumulating) and corrosion (from low pH or dissimilar metals) in the water distribution system as well as to reduce soluble lead and copper in water. The major types of phosphate products that are used in potable water treatment are orthophosphates, phosphoric acid, and condensed phosphates. These are all chemical substances that have the potential to be used in potable water treatment. The use of each phosphate product is determined by the intended qualities or treatment. Water availability and management are crucial for economic growth, public health, food security, and trade throughout the world. Increasing population growth, rapid urbanization, and industrial and economic growth make water challenges more urgent than ever.
RISING ADOPTION OF FOOD-GRADE PHOSPHATE IN FOOD PROCESSING APPLICATIONS
Phosphorus an essential mineral required by the human body is obtained through natural food sources or food phosphate additives. Phosphate, a natural component found in almost all foods has been utilized in food processing for over a century. It serves as a food additive providing several beneficial properties to various food items. It is widely employed in poultry, fruits, vegetables, meat products, dairy, bakery, seafood, and beverage production. Additionally it is commonly used in the processing of potato products, convenience foods, and seasonings. In food processing activity phosphates are generally incorporated as sodium, potassium, calcium, iron, and zinc salts serving as nutrient fortifiers. With more than 30 commonly used food grade phosphate varieties it remains one of the most widely utilized food additives. Some of the food grade phosphates include disodium phosphate, trisodium phosphate, monosodium phosphate, dipotassium phosphate, tri potassium phosphate, monopotassium phosphate, monocalcium phosphate, tricalcium phosphate, dicalcium phosphate, sodium acid pyrophosphate, tetrasodium pyrophosphate, and others.
Phosphate Market Segment Insights:
Phosphate Type Insights
The Phosphate Market segmentation, based on Type has been segmented as Ammonium/Phosphoric Acid, Calcium, Potassium, Sodium, Others. Among these, the Ammonium/Phosphoric Acid segment is projected to dominate the Phosphate Market revenue through the projected period. Ammonium phosphate is one of the major ingredients used in several fertilizers as it provides essential nutrients such as phosphorus and nitrogen to the crops. With the increasing demand for food production, the need for high quality fertilizers is growing, further positively impacting the market of ammonium phosphate.
Phosphate by Application Insights
Based on Application, the Phosphate Market is segmented as Fertilizers, Detergents, Food & Beverages, Water Treatment Chemicals, Metal Treatment, Cosmetic & Personal Care, Pharmaceuticals, Others. Out of which the Fertilizers segment dominated base year market and is also projected to dominate the Phosphate Market revenue through the projected period. The significant increase in the population globally has increased the demand for food which is creating a higher need for food production and this factor is driving the demand for fertilizers that can boost the crop yields.
Phosphate Regional Insights
Based on Region, the Phosphate market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-Pacific Phosphate market held the maximum market share and is also expected to account for a significant revenue share during the forecast period. The market growth in Asia-Pacific is driven by various factors, including rising demand for ammonium phosphate for manufacturing fertilizers, increased foreign investments, government subsidies, and rising demand from South Asian countries such as India, Thailand, and Indonesia.
Phosphate Key Market Players & Competitive Insights
Key market players are emphasizing significantly on R&D for increasing their product offerings, which will further help the Phosphate Market to grow considerably. Market players are adopting several business development strategies such as acquisitions, mergers, collaborations, and partnerships to enhance their market presence and acquire a larger customer base. To survive in the competitive market, industry players must provide cost effective products.
The Phosphate market is very competitive with market players trying to develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment is likely to grow further owing to rising technological advancements. Some of the key players operating in the Phosphate Market are The OCP Group, The Mosaic Company, EuroChem Group AG, Nutrien Ltd, Jordan Phosphate Mines Co., ICL Group Ltd, PhosAgro, Ma’aden-Saudi Arabian Mining Company, Yara International ASA, Innophos Holding Inc, Yunnan Phosphate Haikou Co., Ltd. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.
The OCP Group: The OCP Group, originally known as the Office Chérifien des Phosphates, is a Moroccan state-owned corporation founded in 1920. It is the world’s largest producer of phosphate and phosphate-based products, with a significant presence in the global fertilizer market. With exclusive access to over 70% of the world’s phosphate rock reserves, OCP plays a pivotal role in global agriculture by providing essential nutrients that enhance soil fertility and crop yields. The company’s operations encompass the entire plant nutrition cycle, from mining phosphate rock to producing phosphoric acid and fertilizers. OCP’s industrial operations are advanced and widespread, with a history of mining in Khouribga since 1921 and subsequent expansions to Youssoufia and Benguerir, alongside chemical production in Safi and Jorf Lasfar. The company’s phosphate production capacity is around 44 million tons and is produced around 41 million tons annually. Moreover, the company serves 350 customers across the globe.
The Mosaic Company: The Mosaic Company, established in 2004 through the merger of Cargill Inc’s crop nutrition division and IMC Global, is a preeminent producer of concentrated phosphate and potash. As a Fortune 500 company headquartered in Tampa, Florida, Mosaic has a strategic global presence, with operations and assets in North America, Latin America, Asia Pacific, and the Middle East. The company’s business is structured into three segments: Phosphate, Potash, and Mosaic Fertilizer, which collectively cater to the agricultural industry’s need for crop nutrients essential for healthy and robust plant growth. With 10.4 million tonnes of potash capacity, Mosaic operates several mines and surface mills, including Belle Plaine, Colonsay, Esterhazy K1, Esterhazy K2, Esterhazy K3, and Carlsbad. Mosaic has approximately 16.8 million tons of operational capacity for finished concentrated phosphates. Mosaic is the largest producer of finished phosphate products with an annual capacity greater than the next two largest producers combined. It has a global distribution network made up of plants, port facilities, warehouses, and sales offices.
Key Companies in the Phosphate Market includes
- The OCP Group
- The Mosaic Company
- Jordan Phosphate Mines Co.
- ICL Group Ltd
- Nutrien Ltd
- Ma’aden-Saudi Arabian Mining Company
- Yara International ASA
- Innophos Holding Inc
- Yunnan Phosphate Haikou Co., Ltd
Phosphate Industry Developments
In 2024 Nutrien introduced a new phosphate fertilizer with enhanced nutrient delivery and environmental benefits.
In 2023 The Mosaic Company released an advanced phosphate-based fertilizer aimed at increasing crop yields and reducing environmental impact.
March 2024: EuroChem, a global leader in the production of mineral fertilizers, celebrated the opening of its new phosphate fertilizer production facility in Serra do Salitre, State of Minas Gerais, Brazil. The new phosphate mine and plant complex, which represents a total project investment of nearly US$1 billion, was constructed in record-breaking time and will have an annual production capacity of 1 million tonnes of advanced phosphate fertilizers.
January 2023: OCP Group and India have entered into a strategic partnership to strengthen food security and confirm their common ambition for an innovative and sustainable agriculture.
Phosphate Market Segmentation:
Phosphate Type Outlook
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
Phosphate Application Outlook
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
Phosphate Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- Poland
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Turkey
- South Africa
- Rest of Middle East & Africa
Market Size & Forecast
|
Attribute/Metric |
Details |
|
Market Size 2022 |
USD 50,410.0 million |
|
Market Size 2023 |
USD 52,764.2 million |
|
Market Size 2030 |
USD 68,897.3 million |
|
Compound Annual Growth Rate (CAGR) |
3.88% (2023-2030) |
|
Base Year |
2022 |
|
Forecast Period |
2023-2030 |
|
Historical Data |
2019 & 2021 |
|
Forecast Units |
Value (USD Million) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa and Latin America |
|
Countries Covered |
US, Canada, Germany, Poland, UK, France, Italy, Spain, China, India, Japan, Australia & New Zealand, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Turkey, South Africa |
|
Key Companies Profiled |
The Mosaic Company, EuroChem Group AG, Nutrien Ltd, Jordan Phosphate Mines Co., ICL Group Ltd, PhosAgro, Ma’aden-Saudi Arabian Mining Company, Yara International ASA, Innophos Holding Inc, Yunnan Phosphate Haikou Co., Ltd |
|
Key Market Opportunities |
· Rising adoption of food-grade phosphate in food processing applications |
|
Key Market Dynamics |
· Growing demand for fertilizers · Growing investments in the development of water treatment infrastructure |
Major Players
Phosphate Market Segmentation
Phosphate Type Outlook (USD Million & Kilo Tons, 2019-2030)
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
Phosphate Application Outlook (USD Million & Kilo Tons, 2019-2030)
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
Phosphate Regional Outlook (USD Million & Kilo Tons, 2019-2030)
- North America Outlook (USD Million & Kilo Tons, 2019-2030)
- North America Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- North America Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- US Outlook (USD Million & Kilo Tons, 2019-2030)
- US Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- US Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Canada Outlook (USD Million & Kilo Tons, 2019-2030)
- Canada Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Canada Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Europe Outlook (USD Million & Kilo Tons, 2019-2030)
- Europe Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Europe Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Germany Outlook (USD Million & Kilo Tons, 2019-2030)
- Germany Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Germany Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Poland Outlook (USD Million & Kilo Tons, 2019-2030)
- Poland Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Poland Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- UK Outlook (USD Million & Kilo Tons, 2019-2030)
- UK Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- UK Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- France Outlook (USD Million & Kilo Tons, 2019-2030)
- France Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- France Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Italy Outlook (USD Million & Kilo Tons, 2019-2030)
- Italy Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Italy Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Spain Outlook (USD Million & Kilo Tons, 2019-2030)
- Spain Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Spain Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Rest Of Europe Outlook (USD Million & Kilo Tons, 2019-2030)
- Rest of Europe Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Rest of Europe Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Asia-Pacific Outlook (USD Million & Kilo Tons, 2019-2030)
- Asia-Pacific Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Asia-Pacific Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- China Outlook (USD Million & Kilo Tons, 2019-2030)
- China Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- China Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- India Outlook (USD Million & Kilo Tons, 2019-2030)
- India Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- India Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Japan Outlook (USD Million & Kilo Tons, 2019-2030)
- Japan Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Japan Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Australia & New Zealand Outlook (USD Million & Kilo Tons, 2019-2030)
- Australia & New Zealand Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Australia & New Zealand Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- South Korea Outlook (USD Million & Kilo Tons, 2019-2030)
- South Korea Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- South Korea Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Rest of Asia-Pacific Outlook (USD Million & Kilo Tons, 2019-2030)
- Rest of Asia-Pacific Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Rest of Asia-Pacific Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Latin America Outlook (USD Million & Kilo Tons, 2019-2030)
- Latin America Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Latin America Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Brazil Outlook (USD Million & Kilo Tons, 2019-2030)
- Brazil Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Brazil Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Mexico Outlook (USD Million & Kilo Tons, 2019-2030)
- Mexico Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Mexico Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Argentina Outlook (USD Million & Kilo Tons, 2019-2030)
- Argentina Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Argentina Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Rest of Latin America Outlook (USD Million & Kilo Tons, 2019-2030)
- Rest of Latin America Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Rest of Latin America Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Middle East & Africa Outlook (USD Million & Kilo Tons, 2019-2030)
- Middle East & Africa Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Middle East & Africa Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Saudi Arabia Outlook (USD Million & Kilo Tons, 2019-2030)
- Saudi Arabia Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Saudi Arabia Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- UAE Outlook (USD Million & Kilo Tons, 2019-2030)
- UAE Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- UAE Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Turkey Outlook (USD Million & Kilo Tons, 2019-2030)
- Turkey Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Turkey Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- South Africa Outlook (USD Million & Kilo Tons, 2019-2030)
- South Africa Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- South Africa Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Rest of Middle East & Africa Outlook (USD Million & Kilo Tons, 2019-2030)
- Rest of Middle East & Africa Phosphate by Type
- Ammonium/Phosphoric Acid
- Calcium
- Potassium
- Sodium
- Others
- Rest of Middle East & Africa Phosphate by Application
- Fertilizers
- Detergents
- Food & Beverages
- Water Treatment Chemicals
- Metal Treatment
- Cosmetic & Personal Care
- Pharmaceuticals
- Others
- Middle East & Africa Phosphate by Type
- Latin America Phosphate by Type
- Asia-Pacific Phosphate by Type
- Europe Phosphate by Type
- North America Phosphate by Type
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