High Adoption of Phosphate in Different End-use Industries to Propel Phosphates Market

The applications of phosphate extend to an array of industrial sectors, including building & construction, food & beverages, animal feed, agriculture, water treatment, and personal care. Food-grade phosphates are increasingly being used in the production of food items as buffers, sequestrants, acidulants, bases flavors, gel accelerants, etc. The adoption of food-grade phosphate in North America is significantly high, as it is deemed safe by the U.S. Food and Drug Administration (FDA). Over the past couple of decades, phosphates have emerged as legally permissible additives, which are used to improve food processing and the overall quality of different food products. This factor is likely to drive the phosphates market.

Apart from the soaring demand from the food & beverages industry, the demand for phosphate is on the rise in the healthcare sector for applications in bone regeneration. Sodium phosphate and disodium phosphate are increasingly being used across the personal care and cosmetic sector. Phosphate rocks are the leading commercial source that is predominantly used as a raw material for the manufacturing of phosphate fertilizers, phosphoric acid, and a range of other chemicals. Phosphate fertilizers have emerged as critical end products of phosphoric acid. The demand for phosphate compounds to manufacture toothpaste, detergents, fire extinguishers, etc., is expected to witness significant growth during the forecast period. At the back of these factors, along with additional research and development, the global phosphates market is expected to reach a market value of ~US$ 48 Bn by the end of 2027.

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High Adoption in Food Industry to Boost Market Growth

Over the past couple of decades, the demand for phosphates, particularly to develop phosphate additives has witnessed consistent growth. Phosphate additives are used in several food products, especially processed food items. Phosphate additives are growing in demand, as they are extensively used to retain moisture, preserve color, and stabilize frozen food products. The demand for di-sodium phosphate is increasing, particularly to prepare ice cream. In addition, ferric phosphate is increasingly being used to fortify food products– a factor that is expected to increase the demand for food-grade phosphate during the assessment period. The steady rise in demand for phosphate from the food & beverages industry is anticipated to provide a boost to the phosphates market during the assessment period. Tri-calcium phosphate is extensively used as an anti-caking agent for several decades and the trend is expected to continue in the coming years. Of the different types of products in the phosphates market, ammonium phosphates are expected to have the highest market share in terms of volume and value due to the widening applications of the same, particularly in the agriculture sector.

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Increase in Demand for Calcium Phosphate for Bone Regeneration

The healthcare sector has embraced innovations and new technologies with open arms in the past few decades. Technological advancements, onset of new materials, development of biomaterials, and research & development activities, along with abundant clinical trials are some of the major factors that have improved the healthcare sector worldwide. Within the healthcare sector, bone regeneration has gained a notable amount of momentum over the past few years, wherein multiple experiments are increasingly using biomaterials in vitro and in vivo to gain a fair understanding of bone regeneration. Among the different types of biomaterials, studies continue to investigate the role of calcium phosphates that are found in natural bone due to its bone regenerative property. Calcium phosphate is increasingly being used in bone regeneration applications due to its osteoconductive properties in different forms, including cement, scaffold, and coating. Another major factor that is projected to augment the adoption of calcium phosphate is the unique bioactive properties and efficacy in bone regeneration. Several studies are also inclined toward enhancing the efficacy of calcium phosphates when combined with different healing agents.

Participants of the current phosphates market are expected to gain approval from the FDA for their products related to the use of phosphates. For instance, in February 2020, pharmaceutical company CMP Pharma Inc. revealed that the company gained approval from the FDA for a potassium phosphate injection that would address the existing challenges related to the critical phosphate repletion treatment.

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Analysts’ Viewpoint

The global phosphates market is expected to grow at a moderate CAGR of ~4% during the forecast period. Some of the major factors that are likely to influence market growth include significant demand for phosphate from different end-use industries such as food & beverages, pharmaceutical, healthcare, agriculture, water treatment, etc. Companies operating in the current market landscape should ideally focus on tapping into opportunities within the food & beverages, agriculture, and healthcare sectors. Additional research is likely to expand the applications of phosphate in different industries due to which, the global phosphates market is expected to witness considerable growth.  

Phosphates Market: Overview

  • Phosphorus is the second-most widely used fertilizer nutrient after nitrogen. The most important source of phosphorus is phosphate rock. Phosphate rock is the commercial source used as a raw material in the manufacture of phosphoric acid, phosphate fertilizers, and certain other chemicals. Production of phosphoric acid is the first step in the manufacture of several phosphate fertilizers.
  • Phosphoric acid and phosphate compounds can be used directly in the chemical industry or as a key ingredient in the production of other chemicals required in applications such as detergents, animal feed, foods, beverages, surface treatment (including metal cleaning and coating), water treatment, dentistry, tooth pastes, and fire extinguishers. High-purity phosphate compounds are used in the production of foods and pharmaceuticals. Some other phosphoric chemicals derived from phosphate rock are used in pesticides, matches, fireworks, and in a few military applications.
  • Rise in the food production in order to serve the demand of increasing population propels the demand for phosphate fertilizers for use in agricultural production. Moreover, increase in the global consumption of meat as a source of protein is a major factor driving the demand for phosphates for animal feed. 
  • In terms of value, the global phosphates market is anticipated to expand at a CAGR of 4% during the forecast period to reach value of ~US$ 48 Bn by 2027
  • Asia Pacific was the prominent region of the global phosphates market in 2018. The market in the region is expected to expand at a CAGR of more than 4% between 2019 and 2027. Increase in the demand for phosphate-based fertilizers and rise in the consumption of meat are major factors anticipated to drive the phosphates market in Asia Pacific during the forecast period.
  • The market in other regions such as North America, Europe, Latin America, and Middle East & Africa is expected to witness sluggish growth compared to that in Asia Pacific between 2019 to 2027
  • Overall, the demand for phosphates is expected to remain stable between 2019 and 2027

Rise in Demand for Ammonium Phosphate as a Major Source of Phosphate Fertilizer

  • Among product types, ammonium phosphate was the major segment, holding more than 70% share of the global phosphates market in 2018. It is estimated to continue its dominance between 2019 and 2027. Across the world, phosphates are largely used for consumption of fertilizers. Ammonium phosphate is a major source of nitrogen and phosphorus, which are major nutrients required for plant growth. This is a major factor expected to drive the demand for phosphates during the forecast period.
  • Calcium phosphate is another major product type segment of the global phosphates market, which is expected to witness significant growth during the forecast period

Agriculture and Animal Feed Major Applications

  • Among applications, agriculture was a highly lucrative segment of the global phosphates market in 2018. This trend is likely to continue throughout the forecast period. Rise in agricultural activities to meet the food demand of increasing population is a major factor that drives the global market. Phosphate is one of the key nutrients required for plant growth along with nitrogen. Most of the phosphate mines are used for producing phosphate fertilizers. After agriculture, animal feed is another major application segment of the global phosphates market, which is expected to experience significant growth during the forecast period. Rise in the demand for meat as a major source of protein propels the demand for phosphates. Rise in the consumption of meat in various developed as well as developing countries is a major factor expected to propel the demand for feed phosphates across the globe during the forecast period. Feed phosphates are essential nutrients in animal diet. They ensure optimal growth; improve gut functionality and fertility; and enable bone development. Increase in the demand for ready-to-eat meat products led by their high protein content is one of the key factors driving the global phosphates market. Demand for phosphates in the industrial sector is less compared to agriculture and animal feed sectors, owing to availability of a large number of substitutes for phosphates for industrial application.

Phosphates Market: Regional Segmentation

  • In terms of volume and value, Asia Pacific constituted a major share of the global phosphates market in 2018. This can be ascribed to extensive rise in agricultural activities to meet the food demand of increasing population followed by increase in the consumption of meat, which drives the demand for animal feed in the region. In terms of consumption, China and India accounted for more than 80% share of the Asia Pacific market in 2018. China is the leading producer and consumer of phosphate across the globe.
  • Asia Pacific is followed by North America in the phosphates market. North America is followed by Middle East & Africa and Latin America. Europe is the net importer of phosphate. The market in the region is anticipated to witness sluggish growth during the forecast period.

Phosphates Market: Competition Landscape

  • Key players operating in the global phosphates market are 
  • The Mosaic Company
  • OCP
  • ICL
  • Nutrien Ltd.
  • Prayon Group
  • JPMC
  • PhosAgro Group of Companies
  • Eurochem
  • Kazphosphate LLC
  • Maa’den
  • Sinochem Yunlong Co. Ltd.
  • Yara International
  • Phosphea
  • Aditya Birla Chemicals (Thailand)
  • Coromandel International Limited
  • Chemische Fabrik Budenheim KG.

Phosphates Market – Scope of Report

Transparency Market Research’s recent report on the global phosphates market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global phosphates market analyzes the scenario for the period from 2019 to 2027, wherein 2018 is considered the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.

This TMR study on the global phosphates market also provides data on the developments made by important players and stakeholders in the market, along with competition analysis. The report also provides understanding of strengths, weaknesses, threats, and opportunities along with market trends and restraints.

This study also discusses the underlying trends and impact of various factors that are driving the global phosphates market, along with their influence on growth of the market.

This study also offers Porter’s Five Forces analysis and regulatory scenario of the global phosphates market in order to elaborate on crucial growth tactics and opportunities for players operating in the market.

Key Questions Answered in Phosphates Market Report

  • How much revenue is the global phosphates market expected to generate by the end of the forecast period?
  • Which region currently accounts for the maximum share of the global phosphates market?
  • What are the factors expected to drive the global phosphates market?
  • Which region is likely to be a highly lucrative market for phosphates during the forecast period?
  • What are the essential strategies adopted by key stakeholders in the global phosphates market to expand their geographical presence?
  • What are the major advancements in the global phosphates market?

This report answers these questions about the global phosphates market, aiding major stakeholders and key players in making correct decisions and strategizing for expansion of their business.

Phosphates Market: Research Methodology

This TMR report on the global phosphates market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the global phosphates market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers have arrived at predictions and estimations and calculated the forecast for the global phosphates market.

This report uses an analytical triangulation method to estimate the numbers of the global phosphates market with the help of both bottom-up and top-down approaches.

This detailed assessment of the global phosphates market, along with an overview of the market, is provided based on careful examination of the avenues for the market. Analysts’ conclusions on how the global phosphates market is set to expand are based on carefully vetted primary and secondary sources.

Phosphates Market: Segmentation

This report on the global phosphates market provides information based on product type, application, and region.

Product Type

Ammonium Phosphate

  • Monoammonium Phosphate
  • Diammonium Phosphate
  • Triammonium Phosphate Trihydrate
  • Calcium Phosphate
  • Monocalcium Phosphate
  • Dicalcium Phosphate
  • Tricalcium Phosphate
  • Others

Potassium Phosphate

  • Monopotassium Phosphate
  • Dipotassium Phosphate
  • Tripotassium Phosphate
  • Others

Magnesium Phosphate

  • Monomagnesium Phosphate
  • Dimagnesium Phosphate
  • Trimagnesium Phosphate
  • Sodium Phosphate
  • Disodium Phosphate
  • Trisodium Phosphate
  • Hexametaphosphate
  • Sodium acid Pyrophosphate
  • Others

Single Super Phosphate

  • Triple Super Phosphate
  • Iron Phosphate
  • Others (Including  Rubidium Phosphate)

Application

  • Building & Construction
  • Agriculture
  • Animal Feed
  • Personal Care
  • Water Treatment
  • Cleaners/Detergents
  • Food & Beverages
    • Dairy
    • Bakery & Confectioneries
    • Poultry & Meat
    • Others
  • Pharmaceutical
  • Others

Region

  • North America (U.S., Canada)
  • Europe (Germany, France, U.K., Italy, Russia & CIS, Rest of Europe)
  • Asia Pacific (China, India, Japan, ASEAN, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)

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Phosphates Market

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