According to a recent market study published by Growth Market Reports (GMR), titled, “North America Phosphate Market by Types, Resources, Compositions, Applications, End-users and Countries: Size, Share, Trends, and Opportunity Analysis, 2020-2027”, the market was valued at USD 2,062.7 Million in 2019 and is anticipated to expand at a CAGR of 3.5% between 2020 and 2027. In terms of volume, North America phosphate market is anticipated to expand at a CAGR of 1.8% during the forecast period. Phosphate or phosphate rock is a sedimentary rock, which contains excessive amounts of phosphate minerals and is mined from clay deposits. The phosphate is further processed to form elemental phosphorus and phosphoric acid. The processed phosphate is used in various applications such as metal coating, chemicals, toothpaste, food & beverage, detergent, animal feed, and fertilizer.
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The North America phosphate market is segmented into types, resources, compositions, applications, end-users, and countries. On the basis of types, the market has been divided into organic and inorganic. In terms of the resources, the North America phosphate market has classified as sedimentary marine deposit, weathered rock, biogenic resources, and others. Based on compositions, the market has been segmented into ammonium, calcium, phosphoric, potassium, sodium, and others. On the basis of applications, the North America phosphate market has been market has been fragmented into nutritional supplements, fertilizer, meat, carbonated soft drinks, and others. In terms of end-users, the market has been divided into food & beverages, agriculture, pharmaceutical, cosmetics, and others. Based on countries the market is bifurcated into the US and Canada.
Most of the phosphates used in the world are mined from mineral sources. Some rocks are called phosphate rocks. Therese are predominantly extracted. Phosphates can be produced on a small scale using different methods; however, these are costlier than those that were derived from mining. Phosphates are considered as safe for health and nontoxic in nature. These are used in pharmaceutical and food industries. Potassium and sodium phosphates are considered to be safe and are largely used in medicines. Moreover, phosphate is considered an essential element for animals and plant’s nutrition and they have primarily used as a component of the nitrogen-phosphorus-potassium (N-P-K) fertilizer.
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As per GMR industry analyst Partha Paul, “The North America phosphate market is anticipated to grow at a substantial pace during forecast period, from 2020 to 2027 due to the rising world population and increasing food demand is expected to drive the market. Moreover, growing use of phosphate in batteries for electric vehicles is expected to fuel the Phosphate market.”
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Report Metric |
Details |
Market Value in 2019 |
USD 1,820.0 Million |
Market Growth Rate (from 2020 to 2027) |
3.5% |
Historical Data |
2017 & 2018 |
Base Year |
2019 |
Forecast Period |
2020 – 2027 |
Units Considered |
Value (USD Million) and Volume (Million Metric Tons) |
Market Segments |
Types, Resources, Compositions, Applications, and End-Users |
Regional Scope |
North America |
Country Scope |
The US and Canada |
Key Companies Profiled |
Avantor Performance Materials, LLC, BariteWorld, The Mosaic Company, Koch Industries, Inc., J.R. Simplot Company, Itafos, Innophos Holdings Inc., Fertoz Ltd., Bayer AG, Nutriag USA Ltd., Yara International ASA , Xena International Inc , and Nutrien Ltd. |
Customization Scope |
Report customization available on request |
Pricing and Purchase Options |
Avail tailor-made purchase options to meet your research requirements. |
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