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Phosphatic Fertilizer Market Size

The phosphatic fertilizer market is anticipated to experience significant growth, driven by increasing global demand to enhance crop yields. The market's expansion is reflected in the rising market size, with the Asia-Pacific region leading in market share due to the high demand for efficient fertilizers like diammonium phosphate. North America and South America also hold substantial shares, with specific preferences for monoammonium phosphate and diammonium phosphate. Despite a temporary decline during the pandemic, the market is set to recover and grow, supported by the need for essential nutrient sources for crops.

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Market Size of phosphatic fertilizer Industry

Phosphatic Fertilizer Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 54.36 Billion
svg icon Market Size (2030) USD 82.33 Billion
svg icon Largest Share by Product DAP
svg icon CAGR (2024 - 2030) 7.16 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Phosphatic Fertilizer Market Analysis

The Phosphatic Fertilizer Market size is estimated at 54.36 billion USD in 2024, and is expected to reach 82.33 billion USD by 2030, growing at a CAGR of 7.16% during the forecast period (2024-2030).

54.36 Billion

Market Size in 2024 (USD)

82.33 Billion

Market Size in 2030 (USD)

10.67 %

CAGR (2017-2023)

7.16 %

CAGR (2024-2030)

Fastest Growing Type

9.47 %

Projected CAGR, TSP, 2024-2030

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The TSP segment is experiencing notable growth. This fertilizer is gaining traction due to its effectiveness in promoting plant growth and enhancing crop yield.

Largest Segment by Crop Type

89.51 %

value share, Field Crops, 2023

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Growing field crops like wheat and corn depend on phosphorus for good growth. The increasing phosphorus deficiency is boosting the need for phosphorus fertilizers.

Largest Segment by Application Mode

93.81 %

value share, Soil, 2023

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Soil application is a common method used for applying phosphate fertilizers to address phosphorus deficiencies and promote plant growth as it is a cost-effective method.

Largest segment by Country

16.87 %

value share, Brazil, 2023

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The substantial consumption of phosphate fertilizers in the country to enhance soil fertility and promote plant growth has contributed to Brazil's dominance in the market.

Leading Market Player

4.64 %

market share, PhosAgro Group of Companies, 2022

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PhosAgro has a significant international presence, it's phosphatic fertilizers play a crucial role in enhancing soil fertility, contributing to its influence in the market.

Reducing phosphorous content in the soils and the need for the element in crop growth may drive the market

  • Diammonium phosphate (DAP) dominated the phosphatic fertilizer market in 2022, capturing a significant 41.3% global consumption share, equivalent to 30.9 million metric tons. Its popularity stems from its composition, with 46.0% phosphate and 18.0% ammonium, serving as a nitrogen source. This made DAP the top choice for farmers worldwide. The market value of DAP reached USD 23.3 billion in 2022.
  • Monoammonium phosphate (MAP) emerged as the second most favored phosphatic fertilizer, trailing behind DAP. The global MAP market, valued at USD 11.3 billion in 2022, witnessed a consumption volume of 15.3 million metric tons. Notably, MAP boasts a water-soluble P content of around 90%, surpassing the crop growth requirements.
  • Triple superphosphate (TSP), a pure phosphate-based fertilizer with the highest phosphate content of 46.0%, accounted for 21.1% of global phosphate fertilizer consumption in 2022. The TSP market is poised for growth, especially with the expansion of legume crop cultivation areas.
  • Single superphosphate (SSP) constituted 16.7% of global phosphatic fertilizer consumption in 2022. SSP finds significant usage in oilseed crops, owing to its role in providing crucial sulfur trace elements for edible oils and calcium nutrients in acidic soils. These factors indicate a potential uptick in SSP usage in the coming years.
  • The phosphatic fertilizer market is projected to witness robust growth, with an estimated CAGR of 7.0% from 2023 to 2030. This growth is primarily driven by the escalating global demand for phosphatic fertilizers as more farmers seek to enhance their crop yields.
Global Phosphatic Fertilizer Market

The need to improve productivity and rising demand to address the phosphate deficiency are expected to fuel the growth of the market

  • The Asia-Pacific region dominated the global phosphatic fertilizer market and accounted for about 58.6% of the total market value, accounting for about USD 32.8 billion in 2022. In 2022, DAP occupied a market share of 49.8% in the Asia-Pacific phosphatic fertilizers market. The greater demand for DAP in the region is due to its greater efficiency than other phosphatic fertilizers like TSP and SSP.
  • China was the world’s leading producer of phosphorus fertilizers, accounting for nearly 10.3% value share of the global phosphatic fertilizer market in 2022. Its exports represented approximately 25.3% of the world's exports. The top importers from China are Indonesia, Australia, and Iran.
  • North America secured the second-largest market share at 10.6%. Phosphatic fertilizers, after nitrogen fertilizers, are the second most crucial nutrient source for crops. In North America, mono ammonium phosphate (MAP) and diammonium phosphate (DAP) dominated the market in 2022, with shares of 66.3% and 30.9%, respectively. The high phosphate content in MAP drove its demand.
  • In 2022, the South American phosphatic fertilizer market held a 20.3% share of the global market, and it is projected to register a CAGR of 6.9% during 2023-2030.
  • The global phosphatic fertilizer market has witnessed a consistent upward trajectory in both value and volume, barring a dip in 2020, primarily attributed to the disruptions caused by the COVID-19 pandemic. However, the market value is expected to rebound during 2023-2030, driven by a decline in global cultivation areas.

Phosphatic Fertilizer Industry Segmentation

Straight are covered as segments by Type. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.

  • Diammonium phosphate (DAP) dominated the phosphatic fertilizer market in 2022, capturing a significant 41.3% global consumption share, equivalent to 30.9 million metric tons. Its popularity stems from its composition, with 46.0% phosphate and 18.0% ammonium, serving as a nitrogen source. This made DAP the top choice for farmers worldwide. The market value of DAP reached USD 23.3 billion in 2022.
  • Monoammonium phosphate (MAP) emerged as the second most favored phosphatic fertilizer, trailing behind DAP. The global MAP market, valued at USD 11.3 billion in 2022, witnessed a consumption volume of 15.3 million metric tons. Notably, MAP boasts a water-soluble P content of around 90%, surpassing the crop growth requirements.
  • Triple superphosphate (TSP), a pure phosphate-based fertilizer with the highest phosphate content of 46.0%, accounted for 21.1% of global phosphate fertilizer consumption in 2022. The TSP market is poised for growth, especially with the expansion of legume crop cultivation areas.
  • Single superphosphate (SSP) constituted 16.7% of global phosphatic fertilizer consumption in 2022. SSP finds significant usage in oilseed crops, owing to its role in providing crucial sulfur trace elements for edible oils and calcium nutrients in acidic soils. These factors indicate a potential uptick in SSP usage in the coming years.
  • The phosphatic fertilizer market is projected to witness robust growth, with an estimated CAGR of 7.0% from 2023 to 2030. This growth is primarily driven by the escalating global demand for phosphatic fertilizers as more farmers seek to enhance their crop yields.
Type
Straight
Phosphatic
DAP
MAP
SSP
TSP
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
Region
Asia-Pacific
Australia
Bangladesh
China
India
Indonesia
Japan
Pakistan
Philippines
Thailand
Vietnam
Rest of Asia-Pacific
Europe
France
Germany
Italy
Netherlands
Russia
Spain
Ukraine
United Kingdom
Rest of Europe
Middle East & Africa
Nigeria
Saudi Arabia
South Africa
Turkey
Rest of Middle East & Africa
North America
United States
South America
Argentina
Brazil
Rest of South America
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Phosphatic Fertilizer Market Size Summary

The phosphatic fertilizer market is poised for significant growth, driven by the increasing global demand for enhanced crop yields. Diammonium phosphate (DAP) leads the market due to its high phosphate and ammonium content, making it a preferred choice among farmers worldwide. Monoammonium phosphate (MAP) and triple superphosphate (TSP) also hold substantial market shares, with MAP being favored for its water-soluble phosphorus content. The market's expansion is supported by the rising need for fertilizers to meet the food demands of a growing global population, particularly as arable land continues to diminish. The Asia-Pacific region dominates the market, with China being a major producer and exporter, while North America and South America also contribute significantly to the market's value.

The global phosphatic fertilizer market is characterized by a diverse range of products and a fragmented competitive landscape, with major players like Coromandel International Ltd., EuroChem Group, and Nutrien Ltd. holding notable shares. The market's growth trajectory is further bolstered by strategic acquisitions and expansions by key companies, aiming to strengthen their market positions and enhance distribution capabilities. As field crop cultivation rises, particularly in South America and Asia-Pacific, the demand for phosphatic fertilizers is expected to increase, with developed regions like Europe and North America turning to specialty fertilizers to address nutrient deficiencies. This dynamic market environment is set to drive the phosphatic fertilizer industry forward in the coming years.

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Phosphatic Fertilizer Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Straight

        1. 1.1.1.1 Phosphatic

          1. 1.1.1.1.1 DAP

          2. 1.1.1.1.2 MAP

          3. 1.1.1.1.3 SSP

          4. 1.1.1.1.4 TSP

          5. 1.1.1.1.5 Others

    2. 1.2 Application Mode

      1. 1.2.1 Fertigation

      2. 1.2.2 Foliar

      3. 1.2.3 Soil

    3. 1.3 Crop Type

      1. 1.3.1 Field Crops

      2. 1.3.2 Horticultural Crops

      3. 1.3.3 Turf & Ornamental

    4. 1.4 Region

      1. 1.4.1 Asia-Pacific

        1. 1.4.1.1 Australia

        2. 1.4.1.2 Bangladesh

        3. 1.4.1.3 China

        4. 1.4.1.4 India

        5. 1.4.1.5 Indonesia

        6. 1.4.1.6 Japan

        7. 1.4.1.7 Pakistan

        8. 1.4.1.8 Philippines

        9. 1.4.1.9 Thailand

        10. 1.4.1.10 Vietnam

        11. 1.4.1.11 Rest of Asia-Pacific

      2. 1.4.2 Europe

        1. 1.4.2.1 France

        2. 1.4.2.2 Germany

        3. 1.4.2.3 Italy

        4. 1.4.2.4 Netherlands

        5. 1.4.2.5 Russia

        6. 1.4.2.6 Spain

        7. 1.4.2.7 Ukraine

        8. 1.4.2.8 United Kingdom

        9. 1.4.2.9 Rest of Europe

      3. 1.4.3 Middle East & Africa

        1. 1.4.3.1 Nigeria

        2. 1.4.3.2 Saudi Arabia

        3. 1.4.3.3 South Africa

        4. 1.4.3.4 Turkey

        5. 1.4.3.5 Rest of Middle East & Africa

      4. 1.4.4 North America

        1. 1.4.4.1 United States

      5. 1.4.5 South America

        1. 1.4.5.1 Argentina

        2. 1.4.5.2 Brazil

        3. 1.4.5.3 Rest of South America

Phosphatic Fertilizer Market Size FAQs

The Global Phosphatic Fertilizer Market size is expected to reach USD 54.36 billion in 2024 and grow at a CAGR of 7.16% to reach USD 82.33 billion by 2030.

In 2024, the Global Phosphatic Fertilizer Market size is expected to reach USD 54.36 billion.

Phosphate Fertilizers Market Report Snapshots

Phosphatic Fertilizer Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030