The global phosphorus and derivatives market size is expected to grow from USD 65.13 billion in 2021 to USD 85.01 billion in 2028, exhibiting a CAGR of 3.9% between 2021 and 2028. The growing knowledge about the benefits of lithium iron phosphate (LFP) batteries in EVs will spur demand for LFP batteries, therefore aiding the market growth,

Phosphorus is an essential element used in various industries, including agriculture, chemicals, and food processing. It is a key component in fertilizers, which play a crucial role in promoting plant growth and improving crop yields.

Here are some key points related to the phosphorus and derivatives market:

1. Fertilizer Industry: The majority of phosphorus consumption is in the form of phosphoric acid, which is a primary ingredient in phosphate fertilizers. The demand for fertilizers, driven by global population growth and increasing food requirements, significantly influences the phosphorus market.

2. Agricultural Applications: Phosphorus-based fertilizers are essential for promoting root development, improving flowering and fruiting, and enhancing overall crop yield. The agricultural sector is a major consumer of phosphorus derivatives.

3. Chemical Industry: Phosphorus derivatives find applications in various chemical processes. For example, phosphoric acid is used in the production of detergents, industrial chemicals, and food additives. Other phosphorus compounds, such as phosphorous trichloride and phosphorous pentoxide, are utilized in the synthesis of different chemicals.

4. Environmental Concerns: There is growing awareness of the environmental impact of phosphorus use, particularly in agriculture. Runoff from fields treated with phosphorus-containing fertilizers can contribute to water pollution, leading to eutrophication in water bodies. This has led to increased scrutiny and efforts to develop more sustainable phosphorus management practices.

5. Market Dynamics: The phosphorus market can be influenced by factors such as global agricultural trends, government policies on fertilizer use, technological advancements, and environmental regulations. Prices of phosphorus and its derivatives are subject to market fluctuations.

6. Mining Industry: Phosphorus is primarily obtained from phosphate rock, and the mining of phosphate deposits is a key aspect of the industry. Major producers include countries like China, the United States, Morocco, and Russia.

7. Innovation: Ongoing research and development efforts focus on finding more efficient and sustainable ways to extract phosphorus, reduce its environmental impact, and develop alternative phosphorus sources.

The Report Lists the Key Players in the Market:

• OCP (Casablanca, Morocco)

• Mosaic (Florida, U.S.)

• Yara International ASA (Oslo, Norway)

• EuroChem Group (Zug, Switzerland)

• Solvay (Brussels, Belgium)

• Prayon S.A. (Engis, Belgium)

• Ma’aden (Riyadh, Saudi Arabia)

• Innophos Holdings (New Jersey, U.S.)

• LANXESS (Cologne, Germany)

• Italmatch Chemicals S.p.A. (Genoa, Italy)

• ICL (Tel Aviv-Yafo, Israel)

• Kazphosphate LLC (Almaty, Kazakhstan)

• Haifa Group (Haifa, Israel)

• Omnisal GmbH (Lutherstadt Wittenberg, Germany)

• Other Key Players

Information Source- https://www.fortunebusinessinsights.com/phosphorus-and-derivatives-market-106168