Global Phosphate Fertilizer Production: Who's Leading the Market in 2024

The worldwide phosphate fertilizer production landscape continues to evolve as demand for crop nutrition reaches new heights. According to the latest market analysis, the phosphate fertilizer sector generated a US$54.6 billion market valuation in 2023, with projections indicating growth at a 5.3 percent compound annual rate through 2030, reaching an estimated US$78.4 billion.

Market Dynamics Shaping Global Phosphate Fertilizer Supply

Global consumption of phosphorus pentoxide (P2O5) in fertilizers reached 45.7 million metric tons in 2023, up from 43.8 million MT in 2022. Forecasts suggest this figure will climb to 50 million MT by 2027, with Asia and South America driving much of the expansion. The fertilizer sector has become increasingly focused on sustainable agricultural practices, recognizing phosphate’s critical role in enhancing soil fertility and crop yields.

Phosphate supply fluctuated notably throughout 2023. Production volumes declined compared to 2022, reflecting reduced demand following the previous year’s elevated pricing levels. Approximately 95 percent of global phosphate output serves agricultural fertilizer applications, while the remaining 5 percent supports industrial uses including corrosion inhibitors and detergent manufacturing.

Major Phosphate Fertilizer Production Centers Worldwide

China maintains its commanding position in global phosphate fertilizer production, extracting 90 million metric tons in 2023, though this represented a pullback from 93 million MT the prior year. The nation holds the world’s second-largest phosphate reserves at 2.8 billion metric tons. Tightened environmental regulations on mining operations contributed to the production decline, while export constraints have been implemented to stabilize domestic fertilizer pricing.

Morocco ranks second globally, producing 35 million metric tons of phosphate in 2023 compared to 39 million MT previously. The country boasts the planet’s largest phosphate reserves, controlling over 50 billion metric tons—representing more than two-thirds of all identified global reserves. Capacity expansion projects expected to conclude by 2026 position Morocco for increased output in coming years.

The United States remains a significant player with 20 million metric tons of phosphate fertilizer production in 2023, marginally lower than the preceding year. Nine operating phosphate mines span across Florida, North Carolina, Idaho, and Utah. Florida hosts major producer entities engaged in phosphoric acid manufacturing and specialized fertilizer product creation. Approximately one-quarter of American phosphate output enters export channels as merchant-grade phosphoric acid and refined fertilizer products.

Russia produced 14 million metric tons of phosphate in 2023, maintaining stable output from 2022 levels. The nation possesses phosphate reserves estimated at 2.4 billion metric tons. Major production derives from apatite mineral extraction at the Khibiny deposit in the Kola Peninsula, processed by established phosphate firms. Geopolitical shifts have redirected Russian phosphate exports, with India and Brazil emerging as significant buyers.

Jordan increased output to 12 million metric tons in 2023. The state-controlled Jordan Phosphate Mines Company operates as the nation’s sole producer, running three mining operations while positioning itself as the world’s second-largest phosphate exporter. Documented reserves reach approximately 1 billion metric tons.

Saudi Arabia registered 8.5 million metric tons of phosphate production in 2023, down slightly from prior-year volumes. The nation maintains reserves of 1.4 billion metric tons. The Wa’ad Al Shamal Minerals Industrial City represents an integrated US$8 billion phosphate fertilizer complex, with ownership restructuring announced in 2024 enhancing regional control.

Brazil contributed 5.3 million metric tons to global phosphate fertilizer supply in 2023, declining from 6.2 million MT in 2022. The agricultural powerhouse represents both a substantial fertilizer consumer and importer. New production facilities launched in 2024 aim to expand South American phosphate fertilizer manufacturing capacity.

Egypt generated 4.8 million metric tons in 2023, with phosphate reserves totaling 2.8 billion metric tons. Multiple mines operate across the country hosting mineral deposits of considerable grade quality.

Peru maintained 4 million metric tons of production in 2023. The nation supplies approximately 98 percent of United States phosphate imports, with infrastructure investments announced for expanded output capacity.

Tunisia rounded out the top ten with 3.6 million metric tons of production in 2023. The North African nation holds the world’s fourth-largest phosphate reserves at 2.5 billion metric tons, with state-backed producers advancing expansion initiatives.

Understanding Phosphate Fertilizer Fundamentals

Phosphate fertilizer derives from phosphate rock, a sedimentary mineral source containing concentrated phosphorus compounds combined with elements including sodium, calcium, potassium, and aluminum. These natural compounds provide essential plant nutrition, driving agricultural productivity and soil health. The distinction between phosphate (the natural mineral source) and phosphorus (the active nutrient element) proves important for understanding fertilizer function and application efficiency.

The global phosphate fertilizer production sector reflects interconnected supply chains, geopolitical influences, and agricultural demand patterns. Market participants monitor production metrics and reserve positions across major producing nations as indicators of long-term supply security and pricing trends.