The global phosphate rock market size was $21.41 billion in 2021 and is expected to grow at a CAGR of 2.75% between 2022 and 2032 . The market is expected to reach $28.86 billion globally by the end of 2032 .
Demand for phosphate ore is expected to increase during the forecast period as fertilizer is expected to increase during the forecast period. In the coming years, increasing global population and food industry are expected to boost the demand for cereals and grains.
This market is expected to capture a global market size of $22 billion by the end of 2022. Growing global population is expected to increase the demand for fertilizer in the coming years.
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Key Findings of the Phosphate Rock Market Study:
- Regional analysis of the Phosphate Stone Market based on pre-defined taxonomies.
- Innovative manufacturing processes implemented by Art suppliers are detailed.
- Regional and country-by-country segmentation of the phosphate rock market to identify revenue and growth prospects in these regions.
- Changing preferences of consumers in different regions and countries.
- Factors affecting the growth of the phosphate rock market (both positive and negative).
Companies involved in the phosphate ore value chain include mining companies, distributors, manufacturers and end users. About 70% of market participants have vertically integrated operations and are involved in mining and fertilizer production. In addition to lowering logistics costs, this scale of operations addresses supply chain challenges such as delivering products on time and reducing transportation costs. It also helps to improve and monitor production quality more effectively.
- Mosaic Company announced in January 2019 that it had signed a Memorandum of Understanding (MoU) with Sinochem Fertilizer Company Limited for the supply of phosphate rock and fertilizer.
- With the help of Indian Potash Ltd (IPL), IFFCO announced in May 2018 that it would acquire a 37.0% stake in JPMC, Jordan’s largest mining and chemical company, for nearly Rs 900 crore.
- Centrex Metals Company launched a new phosphate ore mine in Ardmore, Northwest Queensland, Australia in August 2021 and is expected to produce 800 kt of phosphate ore per year.
Key sectors covered in the phosphate rock industry survey
· By application
- phosphate rock for fertilizer
- Phosphate rocks for food and feed additives
- Phosphate stone for industrial applications
- Phosphate rocks for different applications
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Queries covered in the Phosphate Rock Market report:
- Why are Phosphate Rock Market players targeting regions for increasing product sales?
- What patented technologies are players utilizing in the global Phosphate Rock Market?
- Which region is witnessing the fastest growth in the phosphate rock market?
- What are the underlying microeconomic factors impacting the global phosphate rock market?
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