PHOSPHORUS ORE MARKET ANALYSIS

Phosphorus Ore MarketSize and Trends

Global phosphorus ore market size is expected to expand significantly, owing to increasing demand for phosphorus from various industries during the forecast period (2019-2027). Phosphorus finds applications in various industries such as fertilizers, soft drinks and beverages, and more. Growing agricultural industry around the world is expected to increase the demand for fertilizers, which in turn is expected to support growth of the market. Phosphorus also used as important nutrition for animals, which is a crucial component for DNA, bones, and others. Growing use of phosphorus in animal feed is expected to increase the demand for phosphorus ore and subsequently drive the market growth. Furthermore, phosphorus finds applications in several food products and beverages. Increasing consumption of beverages such as soft drinks and high growth of food and beverages industry is expected to increase the demand for phosphorus and hence boos the market growth during the forecast period.

Market Trends

A significant dip in phosphorus reserves around the world has increased the price of phosphorus ores, which is expected to restrain global phosphorus ore market growth.