Phosphatic Fertilizers Market Growth Opportunities and Challenges by 2026

 The phosphatic fertilizers market is anticipated to witness significant growth, reaching a projected value of USD 83.28 billion by the close of 2026. This surge is attributed to phosphate's capacity to augment the overall nutrient content of crops, fostering widespread adoption globally. As outlined in the "Phosphatic Fertilizers Market Size, Share & Industry Analysis, 2019-2026" report by Fortune Business Insights, the market, valued at USD 62.24 billion initially, is poised to register a Compound Annual Growth Rate (CAGR) of 3.8% throughout the forecast period.

Phosphatic fertilizers encompass substances rich in phosphate, a crucial element for promoting the health of plant roots. Their application enhances both root and plant efficiency. The escalating worldwide demand for various crops creates abundant growth prospects for industry players. Notably, substantial investments in the research and development of advanced phosphatic fertilizers are expected to further drive market expansion in the years ahead. The market's growth is also reinforced by the presence of numerous large-scale companies, contributing to an overall increase in market size in the foreseeable future.

Browse Summary of This Research Report:

https://www.fortunebusinessinsights.com/phosphatic-fertilizers-market-102583

A few of the leading companies that are currently operating in the global market include:

• 
  Yara International ASA
• Israel Chemical Ltd.
• The Mosaic Company
• CF Industries Holdings, Inc.
• Coromandel International Limited
• The OCP Group
• PhosAgro PJSC
• Sociedad Química y Minera de Chile S.A.
• Nutrien Ltd.
• Koch Industries, Inc.

Increasing Number of Product Launches Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of product launches has made a huge impact on the growth of the market in recent years. In September 2016, ICL announced the launch of a new technology that will be used for the production of controlled release fertilizers. The company introduced ‘E-Max Release Technology’, a system that will release nutrients such as phosphate and nitrogen in a controlled manner. This product will help the company generate3 substantial phosphatic fertilizers market revenue in the coming years and will subsequently have a massive impact on the growth of the market.

North America Holds the Highest Market Share; Increasing Demand for Sustainable Crop Produce Will Aid Growth

The report analyses the ongoing phosphatic fertilizers market trends across North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America currently holds the highest market share, driven by the massive demand for crop and agricultural produce in several countries across this region. As of 2018, the market in North America was worth USD 7.54 billion and this value is projected to increase further in the coming years. Besides North America, the market Asia Pacific will witness considerable growth in the coming years, owing to the huge volume of area under cultivation.