Phosphorus Ore Market Overview by Key Factors, Scope, Drivers 2020
Minerals containing phosphorus or phosphorus compounds in high quantity are classified as phosphorous ore. Phosphorus content in the ore differs on the basis of various factors such as geological conditions, processing behavior, etc. Phosphorus ores occur in diverse forms including magmatic deposits, metasomatic deposits, sedimentary rocks, etc. Sedimentary rocks are the most preferred source of phosphorus mainly owing to low energy requirement in processing the rocks. Two major groups of phosphate rock are phosphorite and apatite. Other phosphorus ores include iron phosphates and aluminum phosphates among others. Processing of phosphorus ore is profoundly dependent on the end user industry. Some of the processes employed in the industry include reaction with sulfuric acid and heating among others.
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Phosphorus is among the most essential nutrition for plants and helps in photosynthesis, cell division, enlargement, seed formation, etc. Fertilizer production is the most dominant application segment for phosphorus ore and the trend is anticipated to continue for a foreseeable future. Phosphorus is also among important nutrition for animals and is an essential component of bones, DNA and others. Phosphorus is used in the production of several food products and beverages including some soft drinks. Phosphorus is also widely used in the production of lamps, matches and glass among several others. Phosphorus ores such as iron phosphate, aluminum phosphate are used for extraction of other materials such as iron and aluminum depending on the ore.
Decreasing arable land has led to demand for high agricultural efficiency which has been a major factor driving demand for phosphorus ore. Moreover, high growth in food and beverages industry also has been among major growth drivers for phosphorus ore market. Major end use industries for phosphorus ore include consumer goods such as toothpaste, soft drinks, etc. Therefore macroeconomic factors such as GDP growth are also among major factors driving demand for phosphorus.
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Decline in global phosphorus reserve has led to increase in price of phosphorus ore and also has been restraining market growth for phosphorus ore. The elemental form of phosphorus poses severe environmental and health hazards, owing to which, several regulations have been imposed to control the use of phosphorus. This has been a major restraint for the phosphorus ore market growth. Increasing research and development to discover new phosphorus ores is anticipated to offer huge growth opportunity in the market.
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