首頁 > 市場調查報告書 > 材料

市場調查報告書

商品編碼

1560849

全球磷酸鹽市場 - 2024 - 2031

Global Phosphate Market - 2024 - 2031

出版日期: 2024年09月23日 | 出版商:

DataM Intelligence | 英文 208 Pages | 商品交期: 最快1-2個工作天內

價格

※ 本網頁內容可能與最新版本有所差異。詳細情況請與我們聯繫。

簡介目錄

報告概述

2023年全球磷酸鹽市場規模為167.9億美元，預計到2031年將達到202.5億美元，在預測期內（2024-2031年）複合年成長率為2.37%。

磷包含在磷酸鹽中，是一種帶電粒子（離子）。身體需要磷來發育和修復骨骼和牙齒，並幫助神經活動和肌肉收縮。磷酸鹽中的大部分磷存在於骨骼中（近 85%）。其餘部分儲存在全身的組織中。腎臟有助於調節血液中的磷酸鹽水平。

多餘的磷酸鹽從腎臟濾出並經由尿液排出。腎臟疾病通常是血液中高磷酸鹽水平的根源。磷酸鹽是磷酸的化學衍生物，蓬勃發展的農業領域的化肥製造業務吸收了全球大部分磷酸鹽產量。

磷酸鹽市場由於具有柔韌性、柔軟性、抗裂性和耐水性而受益於多種工業應用前景。根據聯合國糧食及農業組織（FAO）預測，2020年，化肥養分總需求量預計將達到20166萬噸。。

市場動態

在預測期內，化肥需求的成長預計將推動磷礦石的需求。隨著世界人口的成長和食品工業的擴張，未來幾年對穀物和穀物的需求可能會增加。然而，磷酸鹽過度施肥造成的污染預計將限制市場擴張。

各種最終用途產業對磷酸鹽的需求不斷成長

由於其柔韌性、柔軟性、抗裂性和耐水性，磷酸鹽具有多種工業應用，包括碳酸飲料、動物性蛋白質、牙膏、膨鬆劑、清潔劑、殺蟲劑、金屬塗料和軟水劑。由於全球人口不斷成長，推動了對快速農業生產力的需求，糧食安全是影響磷酸鹽市場成長的關鍵問題。

隨著全球耕地面積逐年減少，大量施肥是平衡全球農業供應與新興需求的唯一方法。根據聯合國糧農組織統計，畜牧業約佔全球農業經濟的40%。除了肥料業務的蓬勃發展之外，全球肉類消費的增加也推動了磷酸鹽市場的發展，增加了肉類蛋白質的含量。

農業部門對磷酸鹽的需求不斷增加

全球農業部門的崛起增加了磷酸鹽市場的趨勢。此外，市場趨勢和全球投資正受到全球市場對磷酸鹽不斷成長的需求的影響。此外，目標消費者的健康意識和身體健康意識不斷增強，這將增加對健康食品的需求。

在預測期內，這一事實的出現立即導致磷酸鹽市場的擴張。耕地供應不足和作物產量水準提高也有助於市場在整個預測期內獲得顯著的市場動力。

污染和過度施肥

磷肥過量施肥是一個大而普遍的問題。儘管氮缺乏是植物養分缺乏症狀的一個更常見的來源，但許多園丁錯誤地將磷肥施用到缺乏磷的土壤中。在許多情況下，土壤中過量的磷不僅無法解決養分缺乏問題，還會透過誘發葉片失綠並殺死土壤中的有益微生物而加劇這個問題。

磷肥的另一個顯著缺點是水污染的風險增加。透過磷肥進入土壤並牢固地與土壤顆粒結合的磷不太可能逸出。如果土壤中施用過多的磷肥，過量的磷很容易通過雨水渠和管道進入水系統。

細分市場分析

依應用分類，磷酸鹽市場分為肥料、食品和飲料、洗滌劑、水處理化學品、金屬表面處理等。

嚴格化肥監管，占主導地位

由於世界人口不斷成長，農業需求增加，預計該領域在未來幾年將成長。據聯合國糧食及農業組織稱，全球對化肥中 P2O5 磷的需求預計將增加。

肉類和乳製品是養活世界不斷成長的人口的最重要的蛋白質來源。加工後的磷酸和石灰石在高速混合器中混合，產生均勻的產品，隨後乾燥並包裝給最終用戶。磷酸一鈣（MCP）、磷酸二鈣（DCP）和其他飼料磷酸鹽是最常見的。磷酸鹽飼料更有營養，因為它可以增強動物的骨骼強度和生育能力。

氣候變遷、天災和土地肥力下降對土壤農業構成威脅。水耕法，包括在營養液中種植植物，在這種情況下可能是有利的。未來幾年，加拿大、美國、法國、英國、以色列、荷蘭和法國等國家可能會提供水耕機會。

市場地域佔有率

亞太地區快速成長的農業產業

亞太地區是利潤最高的地區，印度和中國的磷酸鹽需求強勁，農業經濟體規模較大。由於中國和印度的人口成長和快速工業化，整個亞太地區食品和飲料、藥品、化肥和個人護理用品的消費量增加。由於磷酸鹽用於上述所有垂直領域，2018年亞太地區佔全球磷酸鹽消費量的一半以上。

根據印度肥料協會 (FAI) 統計，近年來，現代印度農業部門約佔印度 GDP 的 17%。此外，根據經濟合作暨發展組織的數據，中國擁有全球21%的人口和9%的耕地。因此，磷酸鹽進口在亞太地區市場佔據主導地位，而農業是該地區經濟的重要組成部分。

印度近年來佔全球天然磷酸鈣和天然磷酸鋁鈣進口量的27.5%，是領先地區。由於飯店、洗衣和紡織業的發展，洗滌劑使用量的增加可能會推動該地區的產品需求。磷礦需求主要取決於亞太地區的人口成長、政府努力、價格和產量。

市場競爭格局

全球磷酸鹽市場主要公司包括The Mosaic Company、SA OCP、Potash Corporation of Saskatchewan Inc.、Agrium Inc.、Eurochem、Innophos Holdings, Inc.、Israel Chemical Ltd. (ICL)、Jordan Phosphate Mines Company PLC.、PJSC Phosagrogro。 AG和沙烏地阿拉伯礦業公司。

COVID-19 影響分析

新的冠狀病毒大流行影響了預測期內的全球磷酸鹽市場佔有率。由於限制、醫療困難和緊急情況，人們被迫關閉企業或在全球市場上遭受損失。

封鎖影響了製造單位的營運能力，導致全球銷售收入下降。市場的生產和製造能力也因缺乏資源、投資和熟練勞動力而受到阻礙，這對整個產業來說在預期的時期內無異於一個測試階段。市場可能會受益於投資的增加。

俄羅斯-烏克蘭戰爭影響

2022年俄羅斯入侵烏克蘭，對全球化肥市場造成嚴重擾亂，由於戰爭對貿易路線的影響和經濟懲罰，磷酸鹽價格大幅上漲。在入侵之前，由於生產所需的天然氣和煤炭的需求增加和費用增加，化肥價格已經很高。

衝突加劇了這些擔憂，增加了俄羅斯和白俄羅斯化肥供應的不確定性，這兩個國家是全球市場的重要供應國。由於依賴這些供應的國家尋求替代來源，這種中斷導致磷酸鹽價格上漲。隨著戰爭進入第二年，全球化肥市場面臨持續的問題。

儘管國際糧食成本有所下降，但許多中低收入國家的國內化肥價格仍居高不下，這表明衝突仍在產生影響。由於許多國家嚴重依賴少數主要供應商的進口，化肥產業特別容易受到地緣政治衝擊的影響，這對世界各地的農業生產和糧食安全產生了長期影響。

按類型

磷酸銨

磷酸鈣

磷酸

磷酸鉀

三聚磷酸鈉

其他

按申請

化肥

食品和飲料

洗滌劑

水處理化學品

金屬表面處理

其他

按資源

沉積海洋沉積物

火成岩和風化岩

生物源

其他

按地區

北美洲

我們

加拿大

墨西哥

歐洲

德國

英國

法國

義大利

西班牙

歐洲其他地區

南美洲

巴西

阿根廷

南美洲其他地區

亞太

中國

印度

日本

澳洲

亞太其他地區

中東和非洲

主要進展

2023年，Mosaic公司宣布打算透過重啟休眠礦場並建造新的選礦設施來增加其在美國的磷酸鹽產能。該項目旨在滿足對磷肥日益成長的需求，同時利用有利的市場條件。

2022 年，全球專業礦產和化學品公司 ICL 集團宣布收購巴西主要磷酸和磷酸鹽產品製造商 Fosbrasil。這項策略性舉措旨在提高 ICL 在磷酸鹽產業的地位並擴大其特種磷酸鹽產品系列。

為什麼購買報告？

按類型、應用、資源和區域可視化磷酸鹽市場細分的組成，突出顯示關鍵的商業資產和參與者。

透過分析趨勢和共同開發交易來確定磷酸鹽市場的商業機會。

Excel資料表，包含數千個磷酸鹽市場級 4/5 細分點。

經過詳盡的質性訪談和深入的市場研究後，PDF 報告中包含最相關的分析。

Excel 中所有主要市場參與者的關鍵產品的產品映射

全球磷酸鹽市場報告將提供大約的資訊。 61個市場資料表，59張圖表，208頁。

2024 年目標受眾

磷酸鹽服務提供者/買家

產業投資者/投資銀行家

教育及科研機構

新興公司

磷酸鹽生產廠商

The phosphorus is contained in phosphate, a charged particle (ion). Phosphorus is required by the body to develop and repair bones and teeth and aid nerve activity and muscle contraction. Most phosphorus in phosphate is found in bones (nearly 85 percent). The remainder is stored in tissues all across the body. The kidneys aid in the regulation of phosphate levels in the blood.

Extra phosphate is filtered out of the kidneys and excreted in the urine. Kidney disease is frequently the source of a high phosphate level in the blood. Phosphate is a chemical derivative of phosphoric acid and the fertilizer manufacturing businesses in the booming agriculture sector absorb most of its global production.

The phosphate market benefited from several industrial application prospects due to flexibility, softness, crack resistance and water resistance. According to United Nations ' Food and Agriculture Organization (FAO), total fertilizer nutrient demand is expected to reach 201.66 million tons by 2020. Phosphate nutrient fertilizer demand is anticipated to reach 45,858 tons, making it the second most demanded fertilizer nutrient after nitrogen.

Market Dynamics

Over the projection period, rising fertilizer demand is expected to drive up demand for phosphate rock. The demand for grains and cereals is likely to rise in the future years as the world population grows and the food industry expands. However, pollution caused by phosphate overfertilization is projected to limit market expansion.

Rising demand for phosphates from various end-use industries

Owing to its flexibility, softness, crack resistance and water resistance, phosphate has various industrial applications, including carbonated beverages, animal protein, toothpaste, leavening agents, washing agents, pesticides, metal coatings and water softeners. Food security is a crucial worry impacting the phosphate market growth due to the growing worldwide population, driving the demand for rapid agricultural productivity.

As the worldwide area of arable lands diminishes year after year, massive fertilizer application is the only way to balance global agricultural supply with emerging demand. According to the FAO, animal husbandry accounts for about 40% of the worldwide agricultural economy. Apart from a thriving fertilizer business, increased global meat consumption boosts the phosphate market, adding to meat protein.

Increasing demand for phosphates from the agricultural sector

The rise of the agriculture sector worldwide has increased phosphate market trends. Furthermore, market trends and global investments are being influenced by the growing demand for phosphate in the global market. Furthermore, there has been a growth in health awareness and physical fitness concerns among the target consumers, which will raise the demand for healthy food products.

During the forecast period, the appearance of the fact immediately results in the expansion of the phosphate market. Low availability of arable land and increased crop production levels are also assisting the market in gaining significant market momentum throughout the predicted period.

Pollution and overfertilization

Phosphate fertilizer overfertilization is a big and widespread issue. Many gardeners wrongly apply phosphate fertilizers to phosphorus-deficient soils, although nitrogen deficits are a considerably more familiar source of nutrient deficiency symptoms in plants. In many circumstances, an excess of phosphorus in the soil not only fails to cure the nutrient deficiency problem but can also exacerbate it by inducing leaf chlorosis and killing soil-dwelling beneficial microbes.

Another significant drawback of phosphate fertilizer is the increased risk of water pollution. Phosphorus that enters the soil via phosphate fertilizers and becomes securely bound to soil particles is unlikely to escape. Excess phosphorus can readily find its way into water systems via storm drains and plumbing if too much phosphate fertilizer is applied to the soil.

Market Segment Analysis

By application, the phosphate market is segmented into fertilizers, food & beverages, detergents, water treatment chemicals, metal finishing and others.

Stringent regulations regarding fertilizers to make the dominant application

The segment is expected to rise in the coming years due to increased demand from the agriculture industry due to the world's growing population. According to the Food and Agriculture Organization, global demand for phosphorous as P2O5 in fertilizers is expected to rise.

Meat and dairy products are the most important protein sources for feeding the world's ever-increasing population. The processed phosphoric acid and limestone are mixed in a high-speed mixer to produce a homogeneous product, subsequently dried and packaged for end-users. Monocalcium phosphate (MCP), dicalcium phosphate (DCP) and other feed phosphates are the most common. Phosphate feeds are more nutritious as it provides bone strength and fertility in animals.

Climate change, natural disasters and decreased land fertility threats to soil-based farming. Hydroponics, which includes growing plants in nutrient solutions, can be advantageous in such situations. In the coming years, countries such as Canada, U.S., France, UK, Israel, Netherlands and France are likely to offer chances in hydroponics.

Market Geographical Share

The rapidly growing agricultural industry in Asia-Pacific

Asia-Pacific is the most profitable, with strong phosphate demand from India and China, with large agriculture economies. The uptake of food and beverage, pharmaceuticals, fertilizers and personal care items have increased throughout Asia-Pacific due to the rising population and rapid industrialization in China and India. Because phosphate is used in all of the above verticals, Asia-Pacific accounted for over half of worldwide phosphate consumption in 2018. In Asia-Pacific, agricultural fertilizers are the primary source of phosphate demand.

According to the Fertiliser Association of India (FAI), the modern Indian agriculture sector provided roughly 17% of India's GDP in recent years. Furthermore, as per the Organization for Economic Co-operation and Development, China is home to 21% of the world's population and 9% of all arable land. As a result, phosphate imports dominate the market in Asia-Pacific, where agriculture is a key component of the economy.

With 27.5% of global imports of natural calcium phosphates and natural aluminum calcium phosphates in recent years, India was the leading region. Due to the hospitality, laundry and textile industries, increased detergent usage could drive up product demand in the region. Phosphate rock demand is mostly determined by population growth, government efforts, prices and production in Asia-Pacific.

Market Competitive Landscape

Major global phosphate market companies include The Mosaic Company, S.A. OCP, Potash Corporation of Saskatchewan Inc., Agrium Inc., Eurochem, Innophos Holdings, Inc., Israel Chemical Ltd. (ICL), Jordan Phosphate Mines Company PLC., PJSC Phosagro AG and Saudi Arabian Mining Company.

COVID-19 Impact Analysis

The new coronavirus pandemic impacted the worldwide phosphate market share during the forecast period. Due to limits, healthcare difficulties and emergencies, people were compelled to close their enterprises or suffered loss in the worldwide market.

The lockdown affected the manufacturing units' ability to operate, resulting in a decrease in sales revenue globally. The market's production and manufacturing capabilities were also hampered by a lack of resources, investment and skilled labor, which is nothing short of a test phase for the industry over the projected period. The market is likely to benefit from the increased investments.

Russia-Ukraine War Impact

The Russian invasion of Ukraine in 2022 caused substantial disruptions in global fertilizer markets, with phosphate prices rising sharply due to the war's impact on trade routes and economic penalties. Fertilizer prices were already high prior to the invasion due to increased demand and rising expenses for natural gas and coal, all of which are required for production.

The conflict worsened these concerns by increasing uncertainty about fertilizer supplies from Russia and Belarus, which are significant suppliers in the worldwide market. The disruption resulted in higher phosphate prices as countries depending on these supplies sought alternate sources. As the war reached its second year, global fertilizer markets faced ongoing issues.

While international food costs have fallen down, domestic fertilizer prices in many low- and middle-income nations remain high, indicating that the conflict is still having an impact. Because many nations rely heavily on imports from a few major suppliers, the fertilizer industry is especially vulnerable to geopolitical shocks, which have had long-term consequences for agricultural production and food security around the world.

By Type

Ammonium Phosphate

Calcium Phosphate

Phosphoric Acid

Potassium Phosphate

Sodium Tripolyphosphate

Others

By Application

Fertilizers

Food & Beverages

Detergents

Water Treatment Chemicals

Metal Finishing

Others

By Resource

Sedimentary Marine Deposits

Igneous & Weathered

Biogenic

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

France

Italy

Spain

Rest of Europe

South America

Brazil

Argentina

Rest of South America

Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

Middle East and Africa

Key Developments

In 2023, Mosaic Company announced intentions to increase its phosphate production capacity in U.S. by restarting a dormant mine and building a new beneficiation facility. The project aimed to address increased demand for phosphate-based fertilizers while also capitalizing on favorable market conditions.

In 2022, ICL Group, a global specialized minerals and chemicals corporation, announced the acquisition of Fosbrasil, a major Brazilian manufacturer of phosphoric acid and phosphate-based products. The strategic move was intended to increase ICL's position in the phosphates industry and expand its line of specialty phosphate products.

Why Purchase the Report?

Visualize the composition of the phosphate market segmentation by type, application, resource and region, highlighting the critical commercial assets and players.

Identify commercial opportunities in the phosphate market by analyzing trends and co-development deals.

Excel data sheet with thousands of phosphate market-level 4/5 segmentation points.

Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global phosphate market report would provide access to an approx. 61 market data tables, 59 figures and 208 pages.

Target Audience 2024

Phosphate Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Emerging Companies

Phosphate Manufacturers

1. Global Phosphate Market Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Global Phosphate Market - Market Definition and Overview

3. Global Phosphate Market - Executive Summary

3.1. Market Snippet by Type
3.2. Market Snippet by Application
3.3. Market Snippet by Resource
3.4. Market Snippet by Region

4. Global Phosphate Market-Market Dynamics

4.1. Market Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Rising demand for phosphates from various end-use industries
  - 4.1.1.2. Increasing demand for phosphates from agricultural sector industries
- 4.1.2. Restraints
  - 4.1.2.1. Pollution and overfertilization
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Global Phosphate Market - Industry Analysis

5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis

6. Global Phosphate Market - COVID-19 Analysis

6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. Global Phosphate Market - By Type

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
7.2. Ammonium Phosphate*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Calcium Phosphate
7.4. Phosphoric Acid
7.5. Potassium Phosphate
7.6. Sodium Tripolyphosphate
7.7. Others

8. Global Phosphate Market - By Application

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 8.1.2. Market Attractiveness Index, By Application
8.2. Fertilizers*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Food & Beverages
8.4. Detergents
8.5. Water Treatment Chemicals
8.6. Metal Finishing
8.7. Others

9. Global Phosphate Market - By Resource

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resource
- 9.1.2. Market Attractiveness Index, By Resource
9.2. Sedimentary Marine Deposits*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Igneous & Weathered
9.4. Biogenic
9.5. Others

10. Global Phosphate Market - By Region

10.1. Introduction
10.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
10.3. Market Attractiveness Index, By Region
10.4. North America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resource
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.4.6.1. U.S.
  - 10.4.6.2. Canada
  - 10.4.6.3. Mexico
10.5. Europe
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resource
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.5.6.1. Germany
  - 10.5.6.2. UK
  - 10.5.6.3. France
  - 10.5.6.4. Italy
  - 10.5.6.5. Spain
  - 10.5.6.6. Rest of Europe
10.6. South America
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resource
- 10.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.6.6.1. Brazil
  - 10.6.6.2. Argentina
  - 10.6.6.3. Rest of South America
10.7. Asia-Pacific
- 10.7.1. Introduction
- 10.7.2. Key Region-Specific Dynamics
- 10.7.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.7.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.7.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resource
- 10.7.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.7.6.1. China
  - 10.7.6.2. India
  - 10.7.6.3. Japan
  - 10.7.6.4. Australia
  - 10.7.6.5. Rest of Asia-Pacific
10.8. The Middle East and Africa
- 10.8.1. Introduction
- 10.8.2. Key Region-Specific Dynamics
- 10.8.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.8.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.8.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Resource

11. Global Phosphate Market - Competitive Landscape

11.1. Competitive Scenario
11.2. Market Positioning/Share Analysis
11.3. Mergers and Acquisitions Analysis

12. Global Phosphate Market - Company Profiles

12.1. The Mosaic Company
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio and Description
- 12.1.3. Key Highlights
- 12.1.4. Financial Overview
12.2. S.A. OCP
12.3. Potash Corporation of Saskatchewan Inc.
12.4. Agrium Inc.
12.5. Eurochem
12.6. Innophos Holdings, Inc.
12.7. Israel Chemical Ltd. (ICL)
12.8. Jordan Phosphate Mines Company PLC.
12.9. PJSC Phosagro AG
12.10. Saudi Arabian Mining Company (*LIST NOT EXHAUSTIVE)