Research and Markets releases an analysis of the global phosphate fertilizers market 2019-2023.
Extensive product launches, acquisitions, and partnerships to drive market growth. Prominent market vendors are actively involved in innovation to identify new application areas and to improve performance of phosphate fertilizers. The analysts have predicted that the phosphate fertilizers market will register a CAGR of almost 3% by 2023.
Ever-rising demand for food
The ever-rising population has led to food security concerns and agricultural development. The increasing food shortage has resulted in heavy dependence on phosphate fertilizers globally.
Environmental impact of phosphate fertilizers
Even though phosphate fertilizers such as diammonium phosphate, monoammonium phosphate, and superphosphates are extensively used to enhance yield production, they adversely affect the environment and soil fertility.
The market appears to be fragmented and with the presence of several companies including PhosAgro and The Mosaic Company, the competitive environment is quite intense. Factors such as the ever-rising demand for food and the extensive product launches, acquisitions, and partnerships, will provide considerable growth opportunities to phosphate fertilizers manufactures. Coromandel international, ICL, Maaden, OCP, PhosAgro, and The Mosaic Company are some of the major companies covered in this report.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Read the article online at: https://www.worldfertilizer.com/phosphates/16012019/global-phosphate-fertilizers-market-2019-2023/