According to a recent market study published by Growth Market Reports 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.

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.

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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.

As per Growth Market Reports 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.”

Key Takeaways from the Study

  • The US-based company, The Mosaic Company and held approximately more than one forth share of the North America phosphate market in 2019.
  • The inorganic segment accounts for a key share of the market, as it is used in end-use industries such as agriculture for manufacturing pesticides and fertilizers. Inorganic phosphorous derivatives are primarily utilized in fertilizers, food production, and metal plating processes.
  • The ammonium segment is expected to grow as significant pace due to rising use of mono-ammonium phosphate in applications such as cheese starter cultures, distilled spirits, beer & wine, yeast, and bread.
  • High demand for processed food is driving the food & beverage segment. Increase in awareness about helpfulness of phosphate for the human health due to which the segment will grow with a significant CAGR.

Report Scope

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.

Target Audience

  • Supply-side: Phosphate manufacturers, raw material suppliers, primary respondents, and distributors.
  • Demand Side: Food & beverages, agriculture, pharmaceutical, cosmetics, consumer goods, water treatment, and others
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
  • Associations and Industry Bodies: Chemical Facility Anti-Terrorism Standards (CFATS), US Department of Homeland Security (DHS), Bureau of Land Management (BLM), Environmental Protection Agency (EPA), Occupational Safety and Health Administration (OSHA), and others.