The Global Normal Superphosphate Market size was around USD XX billion in 2017. It is expected to grow at a CAGR of XX% to reach USD XX billion by 2022.
Normal superphosphate is a fertilizer which contains an amalgam of the di-acid calcium salt of orthophosphoric acid with calcium sulphate and traces of other phosphates. It contains a little more than 22 percent of available phosphorus pentoxide. It is significant for the robust growth of plants; a highly concentrated dose can be applied to plants ranging from agricultural crops to houseplants. Numerous variants of this fertilizer have been prepared for several requirements. A regular superphosphate fertilizer is used in its raw form, it undergoes various chemical reactions since it is becomes more efficacious.
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The development in the end user industries is the primary driver of the market. The rise in demand from fertilizer industry is anticipated to be a key factor for the development of the market. The market demand is rising because of the augmenting world population and increasing food demand. Additionally, rising milk and meat consumption in the world has warranted high levels of feed volume which in turn has raised the demand for forage production. Moreover, increasing demand from developing countries is anticipated to raise the consumption of normal superphosphates.
On the other hand, availability of cheap alternatives and stringent environmental regulations could hinder the market growth.
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By geography the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Asia Pacific is presently the biggest producer and consumer of normal superphosphates seconded by Latin America. China and India are the leading consumers of normal superphosphates because of an established fertilizer and agriculture industry. Normal superphosphate usage is hampered to regions which have phosphate rock resources which are not suitable feed for the highly intricate chemical processes involved in making ammonium phosphate and phosphoric acid.
Key players in the market include Mosaic(U.S.), OCP (Morocco), Yara International ASA (Norway), Phosagro (Russia), Agrium Inc., (Canada), CF Industries Holdings Inc. (U.S.), Coromandel International Ltd. (India), Potash Corporation of Saskatchewan (Canada), ICL (Israel), and Eurochem (Russia) among others.
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