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The world population are expected to drive innovation in phosphate fertilizer manufacturing, thus driving the market during the forecast period.

The global phosphate fertilizer market is expected to grow from $42.22 billion in 2022 to $45.23 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The global phosphate fertilizer market size is expected to grow from $58.81 billion in 2027 at a CAGR of 6.8%.

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Global Phosphate Fertilizer Market Segments Include:

• By Type: Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Superphosphate, Other Types
• By Application: Cereals & Grains, Oilseeds, Fruits & Vegetables, Other Applications
• By Distribution Channel: Online, Offline
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global phosphate fertilizer market in 2021.

Major Market Players in the phosphate fertilizer market include Agrium Inc., Israel Chemicals Limited, CF Industries Holdings Inc., Coromandel International Ltd., Nutrien Ltd.

There has been a rapid increase in the production and export of phosphates from China. In the past, there was a limited supply of phosphate rock due to limited production capacity and monopolistic pricing in most countries, but, over the past few years, there has been a rapid increase in phosphate production in China. For example, in 2021, China was the world’s top exporter of phosphate and shipped 3.2 million tons of diammonium phosphate fertilizer in the first half of 2021. Therefore, increased production of phosphate is expected to drive the phosphate fertilizer market during the period.

The Phosphate Fertilizer Global Market Report 2023  provides a phosphate fertilizer market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The phosphate fertilizer market forecast analyzes phosphate fertilizer market size, phosphate fertilizer market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Phosphate fertilizers are chemical fertilizers used for the growth and development of plants by providing nutrients. Phosphate fertilizer are produced using phosphatic materials and mixing other phosphatic materials.

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