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Phosphate Market Size 2025 To Amass Considerable Returns From The Asia-Pacific

Author : Ronak Bora | Published Date : 2019-06-11 

Global Phosphate Market report 2025 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

Asia Pacific is projected as fastest growing region in phosphate market. Increasing awareness about product amongst farmers, growing demand for harvesting and rising agriculture is driving the phosphate market demand in the region. Indian agriculture sector contributes over 13% of its gross domestic product. China is a major contributor in agriculture and ranked first worldwide in farm output, primarily producing wheat, tomato, cotton and barley. Product’s extensive usage as an essential component in fertilizers is bolstering its demand in agriculture industry.

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Phosphate Market size will register significant gains over the projected time period. It is a rock used to make calcium nutritional supplements for animals. Its purest form is utilized to formulate chemicals in the industry and fertilizers for agriculture. Product is natural occurring found in minerals, they are also mined to obtain phosphorus from the material. Substance contains properties of softness, flexibility, resistance to crack, waterproof and clarity that has boosted the phosphate industry demand and usage in various industries.

Agricultural industry drives the phosphate market, it will surge to over 4% from 1.2% in the forecast period. The rock is extensively used to produce fertilizers for agricultural fields, it helps a plant to convert other nutrients into usable building blocks with which they can grow. Fertilizers are significantly consumed by the crops and plants in agricultural fields to increase productivity and life span of the fields. Growing product demand in agricultural industry will positively influence phosphate industry.

Pharmaceutical industry will grow at over 10% in near future. The product is commonly used in medicines to make urine more acidic that helps to prevent kidney stone formation in human body. Increasing problem of kidney stone due to unhealthy diet and lifestyle of people has accelerated demand for product in medicines and has boosted phosphate market.

Phosphate market is segmented on the basis of its product that include ammonium, potassium, calcium and sodium. Calcium accounts for highest share in the phosphate industry. Phosphate industry end-user industries is classified into pharmaceuticals, food, agriculture and ecology. Its bifurcation on the basis of applications includes medicines, fertilizers, biochemistry and food processing.

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The U.S. is world’s crucial pharmaceutical industry. It accounts for over 40% of global industry by hosting many top companies that are contributing in the medicine industry globally. The product is widely used in medicines to prevent kidney stone formation in body. Flourishing pharmaceutical industry in North America will surge phosphate market in forecast time period.

Prominent players in phosphate market are Mosaic Company, Israel Chemicals Ltd, Saudi Arabian Mining Company, S.A OCP, PJSC PhosAgro, Potash Corporation, EuroChem, Innophos Holdings, Agrium Inc. and Jordan Mines Company. EuroChem, the second largest apatite concentration producer in Russia expanded its mines in 2015. Objective of expansion was growth, up gradation and renovation of whole mining program. Enlargement will increase the supply demand ratio over next five years, the company is one of those four companies that are mining rocks in huge quantity globally.      

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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