Global Sustainable Phosphorus Market Size To Exceed USD 22.2 Billion By 2033 | CAGR of 4.95%
Category: Chemicals & MaterialsGlobal Sustainable Phosphorus Market Size To Exceed USD 22.2 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Sustainable Phosphorus Market Size Expected to Grow from USD 13.7 Billion in 2023 to USD 22.2 Billion by 2033, at a CAGR of 4.95% during the forecast period 2023-2033.
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Browse key industry insights spread across 225 pages with 101 Market data tables and figures & charts from the report on the "Global Sustainable Phosphorus Market Size, Share, and COVID-19 Impact Analysis, By Source (Phosphate Rock, Recycled Phosphorus, Organic Phosphorus, Inorganic Phosphorus, and Others), By Application (Agriculture, Food and Feed Industry, Chemical Manufacturing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/sustainable-phosphorus-market
The sustainable phosphorus market focuses on producing, recycling, and efficiently using phosphorus for agricultural, industrial, and environmental needs while minimizing environmental impact. It contains innovations in phosphorus recovery, recycling from waste, phosphorus-efficient fertilizers, and techniques against eutrophication, which encourage sustainable practices and reduce dependence on finite phosphate deposits. Such an increase in demand is driving phosphorus recovery to address environmental problems, particularly eutrophication induced by runoff. Regulatory pressures on wastewater treatment, as well as the requirement for efficient fertilizers in agriculture, are also key considerations. However, in the large-scale adoption of recycling technology, high investment costs combined with technical obstacles in the recovery process will hamper the market's growth.
The phosphate rock segment is expected to hold the largest share of the global sustainable phosphorus market during the projected timeframe.
Based on source, the global sustainable phosphorus market is categorized as phosphate rock, recycled phosphorus, organic phosphorus, inorganic phosphorus, and others. Among these, the phosphate rock segment is expected to hold the largest share of the global sustainable phosphorus market during the projected timeframe. Phosphate rock is required for fertilizer manufacture. Phosphate rock is the primary feedstock for phosphorus-based fertilizers, which are particularly significant in enhancing agricultural production around the world, particularly in Asian-Pacific regions.
The agriculture segment is expected to grow at the fastest CAGR during the projected timeframe.
Based on the application, the global sustainable phosphorus market is categorized as agriculture, food and feed industry, and chemical manufacturing. Among these, the agriculture segment is expected to grow at the fastest CAGR during the projected timeframe. This is driven by the rising need for phosphorus-efficient fertilizers. These nutrients are intended to protect the environment surrounding farm use while remaining similar to regular fertilizers used in such activities.
North America is projected to hold the largest share of the global sustainable phosphorus market over the forecast period.
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North America is projected to hold the largest share of the global sustainable phosphorus market over the forecast period. High agricultural demand for effective fertilizers, technological advancements in recovery procedures, and strong government initiatives to promote environmental sustainability. It also generates massive expenditures in R&D and creative solutions that attract sustainable practices in the region.
Asia Pacific is expected to grow at the fastest CAGR growth of the global sustainable phosphorus market during the forecast period. This is primarily due to increased agricultural demand, particularly in developing nations such as India and China, where pressures for sustainable phosphorus solutions are increasing as population expansion and food production needs rise.
Major vendors in the global sustainable phosphorus market are Prayon, Italmatch Chemicals, S.p.a, Groupe Roullier, Veolia Group, PhosAgro Group of Companies, Novozymes A/S, Yara, Nutrien Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In June 2024, Novozymes has been vigorously researching enzymes to increase phosphorus availability in animal feed, with the goal of lowering the use of inorganic phosphorus supplements. Novozymes formed a strategic partnership with a renowned agricultural company to improve phosphorus management and make farming more sustainable.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global sustainable phosphorus market based on the below-mentioned segments:
Global Sustainable Phosphorus Market, By Source
- Phosphate Rock
- Recycled Phosphorus
- Organic Phosphorus
- Inorganic Phosphorus
- Others
Global Sustainable Phosphorus Market, By Application
- Agriculture
- Food and Feed Industry
- Chemical Manufacturing
Global Sustainable Phosphorus Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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