Triple superphosphate, which is derived from phosphate rock and phosphoric acid, is a low cost source of phosphorus which contains 46% diphosphorus pentoxide . Photosynthesis is highly dependent on this compound. It is used in horticultural blends with high phosphorous content, and also as a leavening agents in the food industry. Soils having a low concentration of phosphorus requires Triple superphosphate. Decomposition of its phosphorus requires certain favorable conditions. It accelerates the growth of sprouts and helps for the complete absorption of the soil moisture. Capacities of crop plants in terms of ripening, fruit bearing, rooting and sprouting are enhanced by the use of Triple superphosphate as it affects the process of photosynthesis.
Globally, development of efficient and advance technology, rising demand from agro based industry, flourishing population and GDP of BRICS nations, and advantageous properties of triple superphosphate are the prime growth and market size drivers of the triple superphosphate market adding to its value chain. In addition, increase in adoption of triple superphosphate for application in new industrial verticals, and agrarian economies of South and Central America, China and India, will create new opportunities for the triple superphosphate market. However, stringent environmental regulations regarding triple superphosphate, volatile prices and availability of raw materials, availability of substitute compounds, and higher cost of triple superphosphate as compared to conventional materials are the key restraints for the triple superphosphate market.
Geographically, agrarian economies of China, India, Pakistan, Brazil, Argentina and Bangladesh dominated the consumption of the triple superphosphate market. The developing nations of South and Central America, China and India have emerged as the largest producers and exporters of triple superphosphate dominating the global market share as leading participants. Asia Pacific is forecasted via acute analysis to have the fastest growth, owing to a rapidly increasing food industry, rise in agro industry, and growing government initiatives in developing nations such as China, and India in this region. Among all the applications, phosphate fertilizer segment has the highest market share in the triple superphosphate market due to a spur in agro industry.
This report identifies the triple superphosphate market size for the years 2014-2016, and forecast of the same till the year 2022. It also highlights the market drivers, demand outlook, restraints, market trends, growth indicators, challenges, current and future trends and other key aspects with respect to the triple superphosphate market.
This report segments the triple superphosphate market on the basis of application and regional market as follows:
- The report has focused study on triple superphosphate market by basis of application such as: Top Dressing, Base Fertilizer, Seeding Fertilizer, and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
This report identifies all the major companies operating in the triple superphosphate market. Some of the major companies’ profiles in detail are as follows:
- Coromandel International Ltd.
- CF Industries Holdings Inc.
- Yara International ASA
- Potash Corporation of Saskatchewan