Bulkchemicals Market Reports Phosphate Rock Market Trends

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Phosphate Rock Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2024 | Hexa Research
“Phosphate Rock Market To Reach 268.0 Million
Tons By 2024”
The global Phosphate Rock Market is expected to reach 268.0 million tons by 2024 as a result of its
increasing demand in the downstream sector for producing fertilizers. It is the only global resource which is
used in agriculture and fertilizer industry.
The mineral is a vital ingredient used for manufacturing NPK fertilizers. Therefore, the growing demand for
fertilizer is expected to be the primary driving factor for the growth of the market over the next few years.
Moreover, the absence of substitutes is expected to result in negligible substitution threat.
Additionally, one of the factors for fertilizer consumption growth is directly related to the global increasing
calorie consumption per capita. High-calorie consumption foods are becoming popular, with rising prevalence
of oilseeds, dairy and meat which are directly increasing the demand for stock feeds, grain, and agricultural
production.
Browse Details of Report @ https://www.hexaresearch.com/research-report/phosphate-rock-market
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