Triple Superphosphate Market - Forecast(2021 - 2026)

 Triple Superphosphate Market is forecast to reach around $15 billion by 2025, after growing at a CAGR of 5.5% during 2020-2025. Triple superphosphate typically contains 44–46% of diphosphorus pentoxide (P2O5) and are produced by reacting phosphoric acid with phosphate rocks. Increasing population and surging food demand impel the farmers to use triple superphosphate for higher crop productivity. Decreasing agricultural landmass and adoption of new farming methods has accelerated the growth of the market. In addition, use of triple superphosphate for early germination of seeds and exclusively as a fertilizer material also augments the growth of the market.

Report Coverage

The report: “Triple Superphosphate Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Triple Superphosphate Market.
By Form: Powder, Granular, and Others.
By Crop Type: Grains & Cereals, Oilseeds, Fruits and Vegetables, Non-Crop Based (Turf & Ornamental Grass, Plantation Crop, and Others), and Others.
By Application: Base Fertilization, Top Dressing, and Seed Treatment.
By Geography: North America, South America, Europe, APAC, and RoW.


Key Takeaways

  • Triple superphosphate increases the resistance of the plants to freezing and helps in absorption of the soil moisture. Growing awareness among the people to increase the yield of the crop is driving the growth of the triple superphosphate market.
  • The outbreak of coronavirus has hampered the growth of triple superphosphate market due to travel ban and shuttering of manufacturing units.


Triple Superphosphate Market Segment Analysis - By Form 

Powder form is the fastest growing segment in the triple superphosphate market with a CAGR of 7% during the forecast period. Due to smaller particle size, powdered triple superphosphate are easy to store and transport compared to granular form. In addition, powdered triple superphosphate dissolve easily to form (-H2PO4) in water and, therefore, are readily available to use to the plants. Furthermore, the use of triple superphosphate for plants helps to accelerate the growth of the root system of the young plants, which in turn fuels the demand for powdered triple superphosphates.


Triple Superphosphate Market Segment Analysis - By Crop Type

Based on the crop type, grain and cereals segment holds the largest share of more than 30% in the triple superphosphate market in 2019.  Triple superphosphate shortens the time period and accelerates the ripening of crop, which in turn allows farmer to harvest several crops in a year. Increase in consumption of the cereals and grains coupled with surging population further drive the growth of the triple superphosphate market. According to Organization for Economic Co-operation and Development, global cereal production is projected to increase by 367 Mt to reach 3,053 Mt in 2028. Maize production is projected to increase the most by 181 Mt, followed by wheat (+86 Mt) subsequently raising the demand for triple superphosphate.
Location: United States

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