Phosphorus and Derivatives Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional and global Industry Forecast To 2028
The global phosphorus and derivatives market size is expected to grow from USD 65.13 billion in 2021 to reach USD 85.01 billion in 2028, exhibiting a CAGR of 3.9% between 2021 and 2028. The growing knowledge about the benefits of lithium iron phosphate (LFP) batteries in EVs will spur demand for LFP batteries, therefore aiding the market growth, states Fortune Business Insights, in a report, titled “Phosphorus and Derivatives Market, 2021-2028.” The market size stood at USD 62.78 billion in 2020.
What Does the Report Include?
The market research contains a complete analysis of the key market drivers and constraints, opportunities, and challenges that the industry will encounter during the forecast period. The study offers an in-depth analysis of the industry's geographical changes and how they impact market growth.
Based on type, the market is segmented into ammonium phosphate, phosphoric acid, industrial phosphate, phosphorus pentoxide, and others. Based on application, the market is classified into fertilizers, detergents, food, flame retardant material, and others. Fertilizers are expected to hold the largest share during the forecast period due to the high utilization of phosphorous-based fertilizers such as MAP, DAP, NPKs, and Single Super Phosphate (SSP). Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.