Single Superphosphate (SSP) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Zincated, Boronated), By Application (Agriculture, Horticulture, Animal Feed, Others), By Region and Competition

Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format

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Single Superphosphate (SSP) Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Zincated, Boronated), By Application (Agriculture, Horticulture, Animal Feed, Others), By Region and Competition

Forecast Period2024-2028
Market Size (2022)USD 2.98 billion
CAGR (2023-2028)4.09%
Fastest Growing SegmentAgriculture
Largest MarketAsia Pacific
MIR Specialty Chemicals

Key Market Drivers

Growing Demand of Single Superphosphate (SSP) in Agricultural Applications

Growing Horticulture and Floriculture Sectors

Technological Innovations and Precision Agriculture

MIR Segment1

Key Market Challenges

Depletion of Phosphate Reserves

Key Market Trends

Growing Focus on Nutrient-Balanced Formulations

MIR Regional

Segmental Insights

Type Insights

Application Insights

Regional Insights

Asia Pacific emerged as the dominant player in the Global Single Superphosphate (SSP) Market in 2022, holding the largest market share in terms of both value and volume. The Asia Pacific region, known for its significant agricultural sector, plays a vital role in global food production. Countries such as China, India, and Indonesia are recognized as major agricultural producers, contributing to the region's agricultural prowess. In response to the increasing agricultural activities and the ever-growing food demands of the population, the demand for fertilizers, including single superphosphate, remains consistently high.

Recent Developments

  • CoromandelNSE International, India's second largest phosphatic fertilizerplayer, known for its expertise in fertilizers, crop protection, and organic fertilizers,has recently taken a significant step towards expanding its business. Thecompany has signed a term sheet to acquire the Bio-Pesticides business fromE.I.D. Parry, a renowned name in the industry, along with its wholly ownedsubsidiary Parry America, Inc, based in the USA. This acquisition, facilitatedthrough a slump sale, aligns perfectly with Coromandel's strategic plan tostrengthen its presence in the Crop Protection sector.
  • The primary motivation behind this move is the growing recognition anddemand for natural and microbial pest control solutions. With an increasingemphasis on sustainable and eco-friendly practices, the need for effectivealternatives to conventional pesticides has gained significant traction. Byadding the Bio-Pesticides business to its portfolio, Coromandel aims to caterto this emerging market segment and further enhance its reputation as a leaderin the industry. Through this strategic acquisition, Coromandel is not onlyexpanding its product offerings but also solidifying its position in themarket. By leveraging its expertise and resources, the company is poised toprovide innovative and sustainable solutions to farmers and contribute to theoverall growth of the agriculture sector.

Key Market Players

  • The Mosaic Company
  • Coromandel International Limited
  • Gujarat Narmada Valley Fertilizers &Chemicals
  • Madhya Bharat Agro Products Limited
  • PCC Group
  • Jubilant Industries Ltd
  • Aarti Industries Ltd
  • Yara International ASA
  • Agrium Inc
  • ICL Group Limited

 By Type

By Application

By Region
  • Zincated
  • Boronated
  • Agriculture
  • Horticulture
  • Animal Feed
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

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