Single Superphosphate Market: A Noble Fertilizer
Single superphosphate (SSP) is the first mineral-based fertilizer to be commercialized. It is a leading fertilizer responsible for expansion of the plant nutrients industry.
SSP is composed of two compounds: monocalcium phosphate (MCP) or calcium dihydrogen phosphate and gypsum
It is an important fertilizer product, which has P2O5 concentration between 15% and 22%. It has high water solubility. It is a rich source of secondary nutrients such as sulfur (10%–12% sulfur in the form of sulfate) and calcium.
SSP helps in treating the sulfur deficiency of the soil and enhances crop yield at a low cost
SSP is generally applied before sowing of crops to ensure sufficient supply of phosphorus at the early stage of plant growth
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Key Drivers of Single Superphosphate Market
SSP is a rich source of primary nutrients including nitrogen, phosphorus, and potassium. These nutrients, in turn, maintain health of crops. Additionally, they increase the organic content of soil, providing nutrients for microorganisms in the soil. They help in restoring physical and chemical properties of the soil.
Rise in the crop production, led by increasing demand for food, is expected to drive the global fertilizer industry in the next few years. This, in turn, is likely to drive the single superphosphate market during the forecast period. Moreover, implementation of awareness programs by government and private organizations in developing nations in LATAM, Africa, and Asia Pacific is anticipated to create lucrative opportunities for farmers in terms of utilization of fertilizers in large amounts to improve the yield of fruits and vegetables.
Apart from this, single superphosphate contains micronutrients such as Zinc, Manganese, Copper, Boron and Molybdenum. SSP is lower in price than other fertilizers. This makes it one of the most preferred fertilizers among small and marginal farmers. Due to its lower cost, SSP is expected to witness rise in the demand in the next few years.
In addition, SSP can be blended with all other fertilizer products, except urea and diammonium phosphate (DAP) . It can be stored for a longer duration than other fertilizers.
Rise in the development of manufacturing processes for production of highly advanced SSP grades is likely to augment the demand for SSP in the near future
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Stiff Competition from Substitutes to Hamper the Single Superphosphate Market:
Single superphosphate faces stiff competition, due to rise in use of high-analysis Potassium fertilizers including ammonium phosphates and diammonium phosphate (DAP), owing to high Potassium and Nitrogen concentration. This is expected to hamper the global single superphosphate market in the next few years.
Additionally, SSP is replaced with other fertilizers, owing to its lower phosphorus content than other fertilizers
Segmentation of Global Single Superphosphate Market
Based on form, the global single superphosphate market can be segmented into powder and granules. Granules is projected to be a major segment of the global market in the near future, owing to handy use and increased uptake of nutrients into the plant offered by granular SSP. Also, SSP in the granular form avoids spillage of powder in the air, thereby helping in easy transportation of SSP. Granular SSP is commonly used in cultivation of sugarcane, oil seeds, paddy, vegetables, and fruits.
In terms of type, the global single superphosphate market can be segmented into boronated and zincated. The boronated segment is expected to hold a major share of the global market during the forecast period. Boron is commonly added to single superphosphate, in order to function as a key source for development of the plant cells. Boron also imparts high disease tolerance. Also, boron helps in growth of taller sugarcanes; restricting of flower drop in cotton; and increase in the yield of banana. Also, boronted SSP can be used in cultivation of sugarcane, pulses, and vegetables.
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Asia Pacific expected to hold a Prominent Share of Global Single superphosphate Market
Geographically, the single superphosphate market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific is projected to be a leading consumer of single superphosphate in the near future, owing to increase in the demand for food across the region. In addition, the market in the region is dominated by a large number of players.
According to Jubilant Industries Limited, in India, SSP accounts for around 15%–20% the total consumption of phosphate fertilizers. In countries such as Egypt, New Zealand, Brazil, and Australia, the average contribution of SSP to the total consumption of phosphate fertilizers is much higher.
Manufacturers of SSP in Central and South America are primarily engaged in the development of new processes and technologies to manufacture SSP-based products in order to cater to high demand for SSP across the globe
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