Global phosphate rock market is characterized by high level of integration among market participants as suppliers are engaged in production of fertilizer components. Fertilizer production is a major application and accounts for over 90% of the phosphate rock consumption, whereas other applications include food additives, water treatment chemicals, detergents, pesticides and livestock feed supplements. Increasing demand for fertilizers owing to rising population and decreasing arable land worldwide is expected to positively impact the phosphate rock market over the forecast period.
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However, increasing awareness regarding use of bio-based eco-friendly fertilizers is expected to pose a major challenge for the market growth. Furthermore, restrictions on phosphate ingredients in detergents and cleaning agents by regulatory authorities on account of associated environmental hazards is expected to hamper phosphate rock market demand over the forecast period.
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Morocco is a major global supplier with over one third of the total exports followed by China and the U.S. Asia Pacific is expected to witness tremendous market growth owing to India being the largest phosphate rock importer and China holding significant reserves. Mosaic is a North American company engaged in mining activities in Florida and serves the global market. Phosphate Resources Ltd. is focused on serving the South East Asian market with mines located along islands in the Indian Ocean. MBAC Fertilizer Corp is an integrated fertilizer supplier for the Brazilian agricultural sector. The company started production in 2013 at Itafós Arraias and is expected to target an annual capacity of 500 kilo tons of phosphate fertilizer.
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