Phosphate Rocks Market Competitive Landscape And Application Development Analysi
Posted by Pradnya on April 22nd, 2021
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Phosphorous is obtained from phosphate rock which is found in oceans. Phosphate rock has wide applications in several industries owing to the benefits of phosphorous in numerous applications. It is widely used in the animal feed sector, the fertilizer industry, metallurgy etc. growing demand from these industries is one of the main aspects driving the sales of phosphorous and its compounds, thus triggering the expansion of the global phosphate rock market.
The market has not witnessed a noteworthy growth, however, it is expected to keep growing at a slow pace but having a positive growth graph in the coming years. Fluctuations in pricing and economic and political supply distribution risks are few hindrances pulling the expansion of the global market for phosphate rocks.
An all-inclusive research report on “Phosphate Rock Market: Global Industry Analysis (2012-2016) and Forecasts (2017-2022)” published by Persistence Market Research reveals several market facets that can be referred to as guidelines as they offer the much needed value addition to the reader with a view to achieve stability, profit as well as expand in the coming years. As per the analytical research report on phosphorous rock market, the global market is projected to register a CAGR of 3.1% throughout the course of assessment 2017-2022 to reach a significant market value by the end of 2022.
Key Highlights on the Global Phosphate Rock Market
The global phosphate rock market is segmented by application, by grade and by region.
By application, the fertilizer industry segment is expected to be show the largest consumption of phosphoric acid and hence it is highly lucrative segment for the expansion of the phosphate rock market. The animal feed segment by application is also expected to show high potential in the coming years. This segment is projected to be grow at the highest pace and poised to register a high CAGR of 3.6% throughout the course of assessment
By grade, the fertilizer grade segment is the largest segment with respect to market share and is projected to show a valuation of more than US$ 23 Bn by the end of 2022. The feed grade segment is the fastest growing segment in 2017, and this trend is expected to continue over the course of assessment 2017-2022
Asia pacific excluding Japan (APEJ) region is expected to show high market attractiveness for the expansion of the global phosphate rock market. The phosphate rock market in the Asia Pacific excluding Japan region is expected to be the largest among other regions during the assessment period. By the end of 2022, this region is likely to portray a valuation of more than US$ 15 Bn. Moreover, the Middle East and Africa (MEA) region is expected to reflect higher growth rate and a noteworthy market value by the end of the forecasted year
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About the AuthorPradnya
Joined: February 3rd, 2017
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