Phosphate Fertilizer Market expected to expand at a CAGR of 5.7% from 2022 to 2040.
Phosphate Fertilizer Industry Overview The global phosphate fertilizer market size is estimated to reach USD 176.06 billion by 2040, registering a CAGR of 5.7% from 2022 to 2040, according to a new report by Grand View Research, Inc. Growth can be attributed to increasing demand for fertilizers for usage in agricultural applications and is expected to drive the growth of the market during the forecast period. Phosphate Fertilizer Market Segmentation Grand View Research has segmented the global phosphate fertilizer market report based on the product, application, and region: Based on the Product Insights, the market is segmented into Monoammonium Phosphate (MAP), Diammonium Phosphate (DAP), Single Superphosphate (SSP), Triple Superphosphate (TSP) and Others. The monoammonium phosphate segment accounted for the largest revenue share of around 31% in 2021. This is attributed to the low costs of MAP and the high level of phosphorous present in it. MA...