Single superphosphate (SSP) was the foremost commercial mineral fertilizer, and it led to the expansion of the modern plant nutrient industry. SSP is composed of two compounds: monocalcium phosphate (MCP) or calcium dihydrogen phosphate and gypsum. It is an essential fertilizer product, which has P2O5 concentration among 15% and 22%. It has high water-soluble chemical, which is improved with nutrients such as sulfur (10%–12% sulfur in the form of sulfate) and calcium. SSP assists in treating shortage of sulfur shortage of soil and improves crop yield at a cost-effective manner. It is commonly applied and utilized before propagating of crops to confirm enough supply of phosphorus at the early stage of plant growth.
According to the report analysis, ‘Global Single Superphosphate Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)’ states that Phosagro (Russia), Eurochem (Russia), Yara International ASA (Norway), CF Industries Holdings Inc. (U.S.), Agrium Inc (Canada), ICL (Israel), Potash Corporation of Saskatchewan (Canada), Coromandel International Ltd (India), OCP (Morocco), Mosaic (U.S.) and many more are the key companies which presently working in the global single superphosphate market more proficiently for ruling around the globe, keep maintaining the governing position, registering the great value of market share, generating the highest percentage of revenue and obtaining the competitive edge by analysing the strategies and policies of government as well as contenders, implementing the policies of profit making and strategies of expansion, improving the qualitative and quantitative measures of such, spreading the awareness connected to the applications and advantages of single superphosphate, increasing the features and benefits of single superphosphate, delivering the better customer satisfaction and establishing the several research and development programs.
SSP is broadly applicable in the agribusiness to encourage root arrangement. It is additionally used when plants are starting to the bear natural fruit, as it delivers the supplements to assist the fruits production. Besides, it is widely applied to assist field production as it is augmented in phosphorus and sulfur content. With the growth in need to advance the harvest yield to encounter the consistently enlarging food requirement in the nations. With more urbanization, growth for agricultural and food requirement is also growing which boost the Single Superphosphate (SSP) market.
The effective growth in the crop production, led by augmenting demand for food, is expected to propel the global fertilizer industry in the next few years. This, in turn, is probable to propel the single superphosphate market throughout the forecast period. Moreover, execution of awareness programs by government and private organizations in underdeveloped nations in LATAM, Africa, and Asia Pacific is projected to generate the lucrative opportunities for farmers in terms of operation of fertilizers in large amounts to advance the yield of fruits and vegetables.
Apart from this, single superphosphate entails micronutrients such as Zinc, Manganese, Copper, Boron and Molybdenum. SSP is lower in price than other fertilizers. This makes it one of the most favored fertilizers among small and marginal farmers. Owing to its lower cost, SSP is projected to witness rise in the requirement in the next few years.
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Global Single Superphosphate Market
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