Asia-Pacific Phosphatic Fertilizers Market

Asia-Pacific Phosphatic Fertilizers Market Size (2024 to 2032)

Asia-Pacific Phosphatic Fertilizers Market was valued at USD 24.09 billion in 2023 and is anticipated to reach USD 25.08 billion in 2024 from USD 34.68 billion by 2032, growing at a CAGR of 4.13%, from 2024 to 2032.

High consumption levels and greater food requirements in developing and large populous countries such as India and China are driving the region's phosphatic fertilizers market. Phosphate element occurs naturally and plays a crucial role in supporting human life. The majority of phosphate, which is extracted from the phosphate ores, is used for manufacturing fertilizers. Phosphorous is necessary for cell renewal, enhancing the quality of crop and plant growth, increasing crop production, and also aiding in photosynthesis.

The demand for fertilizers in Asia-Pacific has been influenced by factors such as financial growth, population, development of agriculture areas, government strategies, prices, and production. The agricultural segment in this region is very protruding, and the part of population reliant on the farming sector is very huge. Therefore, farmers of this region place extra efforts to rise the productivity of land by using several farm inputs. This drives the demand of phosphatic fertilizers in this region.

This research report on the Asia-Pacific Phosphatic Fertilizers Market is segmented and sub-segmented into the following categories:

By Type

• Diammonium Phosphate (DAP)
• Monoammonium Phosphate (MAP)
• Superphosphate
• Others

By Application

• Grains & Oilseeds
• Fruits & Vegetables
• Others

The superphosphate type is in great demand due to its advantages over other phosphate types. Phosphates are mainly used in fruits and vegetables to mark the need of phosphates in the body.

COUNTRY ANALYSIS

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the Asia-Pacific region's market is segmented into India, China, Japan, South Korea, and Australia. China is the world's largest phosphate rock producer. India and Japan are anticipated to grow at a high growth rate in the forecast period.

KEY MARKET PLAYERS

CF Industries Holdings Inc. (U.S.), OCP (Morocco), Agrium Inc., (Canada), Potash Corp. of Saskatchewan (Canada), Mosaic (U.S.), Eurochem (Russia), ICL (Israel), Yara International ASA (Norway), Coromandel International Ltd. (India), Phosagro (Russia). These are the market players that are dominating the Asia Pacific Phosphatic fertilizers market.