Phosphate Rocks Industry Forecast to 2027 Available in New Report

 

Market Summary

The Global Phosphate Rocks Industry is projected to register a CAGR of over 3% during the review period. The growth of the global Phosphate Rocks Industry is primarily driven by the its use in phosphorous production, which is further used as a chemical feedstock. The limited availability of cultivable land across the globe due to the industrialization and urbanization has resulted in an increased demand for fertilizers for crop production. With the growing population, the agricultural production has increased, which is projected to drive the growth of the global Phosphate Rocks Industry during the assessment period. However, the increasing adoption of environmentally friendly products due to stringent regulations associated with environment protection by the US Environmental Protection Agency and EU legislation is expected to hamper the market growth. 

 

Competitive Analysis

Some of the prominent players in the global Phosphate Rocks Industry are Nutrien Ltd. (Canada), Phosphate Resources Limited (Australia), Jordan Phosphate Mines Co (Jordan), Itafos (Canada), GCT (Saudi Arabia), OCP (South Africa), The Mosaic Company (US), Anglo American (UK), PhosAgro (Russia), and  Maaden - Saudi Arabian Mining Company (Saudi Arabia).

 

Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/phosphate-rocks-market-8040

 

Segment Analysis

By application, the global Phosphate Rocks Industry has been segmented into fertilizers, animal feed supplements, chemicals, food preservatives, water treatment, fungicides, cosmetics, detergents, and others. Among these, the fertilizers segment dominated the global market in 2018 due to the extensive use of phosphorous in nitrogen, phosphorous, and potassium (NPK) fertilizers across the globe. The demand for NPK fertilizers is increasing as the components offer a number of benefits together, wherein nitrogen is responsible for the growth of leaves on the plant; phosphorus enhances root growth and flower and fruit development; whereas potassium is a nutrient that helps the overall functions of the plant perform correctly.

 

Get Free Sample Copy of “Phosphate Rocks Market” @ https://www.marketresearchfuture.com/sample_request/8040

 

NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.