Calcium Superphosphate Market: Introduction
- The global calcium superphosphate market is expected to expand at a rapid pace during the forecast period, owing to the increasing demand for calcium superphosphate in the agriculture sector. Growth in consumer awareness regarding healthy and nutritious food products across the globe is also anticipated to drive the global calcium superphosphate market during the forecast period.
- Calcium superphosphate is a mixture of calcium acid phosphate and calcium sulfate prepared by treating phosphate rock with sulfuric acid. It is usually used as a fertilizer.
Key Drivers of Calcium Superphosphate Market
- Rise in demand for superior quality food items and nutritional eatables owing to growth in consumer awareness toward health is estimated to positively impact the market during the forecast period
- Asia Pacific dominated the market in 2018. The market in the region is anticipated to expand at a rapid pace. It is estimated to be followed by North America and Europe. Expansion in agriculture and horticulture industries in Asia Pacific is projected to be a key factor driving the market in the region.
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Agriculture Segment to Offer Lucrative Opportunities
- In terms of revenue, the agriculture segment is estimated to account for significant share of the market, owing to the high demand for calcium superphosphate in various agrochemicals.
- Increase in demand for calcium superphosphate in the agriculture sector, as an essential ingredient for manufacturing fertilizers, is likely to boost the segment during the forecast period. Agriculture is anticipated to be one of the major sectors in emerging economies including India, Brazil, and Malaysia. Increase in demand for fertilizers to improve crop quality and yield is anticipated to boost the calcium superphosphate market in these countries in the near future.
- Rise in awareness about the scientific methods to produce a higher yield is expected to propel the market in the near future. This is expected to provide new avenues for growth of this sector. However, governments of some countries in Europe such as Germany, Spain, and Italy have enacted stringent environmental norms and regulations that prohibit the use of phosphate-based fertilizers. This is expected to hamper the market during the forecast period.
Asia Pacific to Hold Major Share of Global Calcium Superphosphate Market
- In terms of geography, the global calcium superphosphate can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of value and volume, Asia Pacific dominated the global calcium superphosphate market in 2018. The region is likely to remain highly lucrative during the forecast period due to growth in the agriculture sector across the region. India is the fastest growing country in Asia Pacific. It is a major manufacturer of agricultural commodities such as spices, pulses, fresh fruits, cashew nuts, coconut, and tea. It is also one of the top producers of cereals such as sorghum and pearl millet.
- The market in North America is projected to expand at a rapid pace during the forecast period, due to an increase in consumption of crop protection products across the region
- The market in Europe is estimated to expand significantly owing to increase in government focus on public health and rise in investment in the agriculture sector in countries such as Germany, Spain, and Italy
- Brazil is expected to dominate the calcium superphosphate market in Latin America, especially in agrochemical applications, owing to the rapid development of the agriculture sector in the country
- Changing consumer eating habits and rising demand for nutritional processed food products are expected to boost the food & beverage industry in the Middle East. This, in turn, is estimated to positively impact the calcium superphosphate market in the region during the forecast period.
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Key Players in Calcium Superphosphate Market
The global calcium superphosphate market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. Key players operating in the calcium superphosphate market include:
- CF Industries Holdings Inc.
- Coromandel International
- Yara International ASA
- Agrium Inc.
- Potash Corporation of Saskatchewan
Global Calcium Superphosphate Market: Research Scope
Global Calcium Superphosphate Market, by Type
- With Water
- Without Water
Global Calcium Superphosphate Market, by Application
Global Calcium Superphosphate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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