Single Superphosphate Market: A Noble Fertilizer
- Single superphosphate (SSP) is the first mineral-based fertilizer to be commercialized. It is a leading fertilizer responsible for expansion of the plant nutrients industry.
- SSP is composed of two compounds: monocalcium phosphate (MCP) or calcium dihydrogen phosphate and gypsum
- It is an important fertilizer product, which has P2O5 concentration between 15% and 22%. It has high water solubility. It is a rich source of secondary nutrients such as sulfur (10%–12% sulfur in the form of sulfate) and calcium.
- SSP helps in treating the sulfur deficiency of the soil and enhances crop yield at a low cost
- SSP is generally applied before sowing of crops to ensure sufficient supply of phosphorus at the early stage of plant growth
Is something restraining your company’s growth in the Single Superphosphate Market? Ask for the report brochure here
Key Drivers of Single Superphosphate Market
- SSP is a rich source of primary nutrients including nitrogen, phosphorus, and potassium. These nutrients, in turn, maintain health of crops. Additionally, they increase the organic content of soil, providing nutrients for microorganisms in the soil. They help in restoring physical and chemical properties of the soil.
- Rise in the crop production, led by increasing demand for food, is expected to drive the global fertilizer industry in the next few years. This, in turn, is likely to drive the single superphosphate market during the forecast period. Moreover, implementation of awareness programs by government and private organizations in developing nations in LATAM, Africa, and Asia Pacific is anticipated to create lucrative opportunities for farmers in terms of utilization of fertilizers in large amounts to improve the yield of fruits and vegetables.
- Apart from this, single superphosphate contains micronutrients such as Zinc, Manganese, Copper, Boron and Molybdenum. SSP is lower in price than other fertilizers. This makes it one of the most preferred fertilizers among small and marginal farmers. Due to its lower cost, SSP is expected to witness rise in the demand in the next few years.
- In addition, SSP can be blended with all other fertilizer products, except urea and diammonium phosphate (DAP) . It can be stored for a longer duration than other fertilizers.
- Rise in the development of manufacturing processes for production of highly advanced SSP grades is likely to augment the demand for SSP in the near future
Stiff Competition from Substitutes to Hamper the Single Superphosphate Market:
- Single superphosphate faces stiff competition, due to rise in use of high-analysis Potassium fertilizers including ammonium phosphates and diammonium phosphate (DAP), owing to high Potassium and Nitrogen concentration. This is expected to hamper the global single superphosphate market in the next few years.
- Additionally, SSP is replaced with other fertilizers, owing to its lower phosphorus content than other fertilizers
Segmentation of Global Single Superphosphate Market
- Based on form, the global single superphosphate market can be segmented into powder and granules. Granules is projected to be a major segment of the global market in the near future, owing to handy use and increased uptake of nutrients into the plant offered by granular SSP. Also, SSP in the granular form avoids spillage of powder in the air, thereby helping in easy transportation of SSP. Granular SSP is commonly used in cultivation of sugarcane, oil seeds, paddy, vegetables, and fruits.
- In terms of type, the global single superphosphate market can be segmented into boronated and zincated. The boronated segment is expected to hold a major share of the global market during the forecast period. Boron is commonly added to single superphosphate, in order to function as a key source for development of the plant cells. Boron also imparts high disease tolerance. Also, boron helps in growth of taller sugarcanes; restricting of flower drop in cotton; and increase in the yield of banana. Also, boronted SSP can be used in cultivation of sugarcane, pulses, and vegetables.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Single superphosphate Market here
Asia Pacific expected to hold a Prominent Share of Global Single superphosphate Market
- Geographically, the single superphosphate market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to be a leading consumer of single superphosphate in the near future, owing to increase in the demand for food across the region. In addition, the market in the region is dominated by a large number of players.
- According to Jubilant Industries Limited, in India, SSP accounts for around 15%–20% the total consumption of phosphate fertilizers. In countries such as Egypt, New Zealand, Brazil, and Australia, the average contribution of SSP to the total consumption of phosphate fertilizers is much higher.
- Manufacturers of SSP in Central and South America are primarily engaged in the development of new processes and technologies to manufacture SSP-based products in order to cater to high demand for SSP across the globe
Key Players Operating in the Single Superphosphate Market:
The global single superphosphate market is dominated by a large number of players across the globe. A few of the key players operating in the global single superphosphate market are:
- SPIC Ltd
- Agro Phos India Limited
- Shree Pushkar Chemicals and Fertilizers Ltd.
- Coromandel International Ltd.
- Jubilant Industries Limited
- Khaitan Chemicals & Fertilizers Limited
- Aurepio Sp. z o.o.
- Krishana Phoschem Limited
- CF Industries Holdings Inc.
- Yara International ASA
- Rama Phosphates Limited
- Aries Agro Ltd.
Khaitan Chemicals & Fertilizers Limited is a leading manufacturer of single superphosphate, sulfuric acid, and edible soya oil. The company has annual production capacity of 11, 13,500 metric tons of single superphosphate, which is the largest in India.
Coromandel International Ltd., a part of Murugappa Group, is the second-largest player in the phosphatic fertilizer industry in India. The company holds approximately 16% share of the market in India. The large market share of the company can be attributed to its entrenched and leading position in Andhra Pradesh and Telangana as well as its wide product portfolio.
On January 25, 2013, Coromandel International Ltd. acquired Liberty Phosphate Group in order to increase its share in the fertilizer industry, in India. Liberty Group is India's largest manufacturer of powdered and granular SSP.
Global Single Superphosphate Market: Research Scope
Global Single Superphosphate Market, by Form
Global Single Superphosphate Market, by Type
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.