Dublin, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The "Phosphate Rock Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global phosphate rock market is expected to grow from $22.52 billion in 2021 to $23.86 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The phosphate rock market is expected to grow to $30.31 billion in 2026 at a compound annual growth rate (CAGR) of 6.2%.
Asia Pacific was the largest region in the phosphate rock market in 2021. The regions covered in the phosphate rock market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 tonnes of the total food grain production in the country was recorded, which was up by 11.44 million tonnes when compared with 285.21 million tonnes in FY19. Therefore, an increase in food and feed production is expected to propel the growth of 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.
In September 2021, Yara Suomi Oy, a Norway-based crop nutrition solutions and precision farming company, acquired Ecolan Oy for an undisclosed amount. Through this acquisition, Yara strengthens its position in the organic fertilizer segment and plays a bigger role in organic farming and in contributing to the circular economy. Ecolan Oy is a Finland-based producer of agricultural fertilizer and groundworks products operating in the phosphate rock market.
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $23.86 billion |
| Forecasted Market Value (USD) by 2026 | $30.31 billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
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Scope
Markets Covered:
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
Companies Mentioned: Yara International ASA; OCP Group; Misr Phosphate; Hubei Xingfa Chemicals Group Co. Ltd.; Wengfu Group Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Key Topics Covered:
1. Executive Summary
2. Phosphate Rock Market Characteristics
3. Phosphate Rock Market Trends And Strategies
4. Impact Of COVID-19 On Phosphate Rock
5. Phosphate Rock Market Size And Growth
6. Phosphate Rock Market Segmentation
7. Phosphate Rock Market Regional And Country Analysis
8. Asia-Pacific Phosphate Rock Market
9. China Phosphate Rock Market
10. India Phosphate Rock Market
11. Japan Phosphate Rock Market
12. Australia Phosphate Rock Market
13. Indonesia Phosphate Rock Market
14. South Korea Phosphate Rock Market
15. Western Europe Phosphate Rock Market
16. UK Phosphate Rock Market
17. Germany Phosphate Rock Market
18. France Phosphate Rock Market
19. Eastern Europe Phosphate Rock Market
20. Russia Phosphate Rock Market
21. North America Phosphate Rock Market
22. USA Phosphate Rock Market
23. South America Phosphate Rock Market
24. Brazil Phosphate Rock Market
25. Middle East Phosphate Rock Market
26. Africa Phosphate Rock Market
27. Phosphate Rock Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Phosphate Rock Market
29. Phosphate Rock Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Yara International ASA
- OCP Group
- Misr Phosphate
- Hubei Xingfa Chemicals Group Co. Ltd.
- Wengfu Group Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/izh10l
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