The single superphosphate (SSP) market will register a CAGR of nearly 3% by 2023

NEW YORK, May 13, 2019 /PRNewswire/ --  

About this market
Single Superphosphate (SSP) is one of the type of phosphate fertilizers. It is one of the conventionally used chemicals in fertilizers. It is preferred to other fertilizers owing to their low price and easy availability. Less stringent regulatory mandates on SSP can increase the use of SSP based fertilizers during the forecast period. Analysts have predicted that the single superphosphate (SSP) market will register a CAGR of nearly 3% by 2023.



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Market Overview
Growing demand for SSP in China
China is the largest producer and consumer of SSP in the world. SSP is used as fertilizers which is used in agriculture, horticulture and pasture. The increasing demand for fruits in China will drive the demand for SSP as fertilizers during the forecast period.
Alternatives to SSP fertilizers
Alternatives to SSP fertilizer pose a major challenge to the growth of the market. The agriculture industry uses substitutes like triple superphosphate, sulphur based fertilizers and NPK fertilizers in large volumes which impede the market growth.
For the detailed list of factors that will drive and challenge the growth of the single superphosphate (SSP) market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be fairly concentrated and with the presence of few companies including Coromandel International Limited and GNFC the competitive environment is quite intense. Factors such as the growing demand for SSP in China will provide considerable growth opportunities to single superphosphate (SSP) manufactures. Coromandel International Limited, GNFC, ICL, Jubilant Industries Ltd, and The Mosaic Company are some of the major companies covered in this report.

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