Global Phosphoric Acid Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
"Global Phosphoric Acid Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global phosphoric acid market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global phosphoric acid market report has been segmented on the basis of product type, application, and region.
Phosphoric acid also known as orthophosphoric acid, is a weak acid with chemical formula H3PO4. It is colorless, odorless, non-volatile, and soluble in ethanol. Phosphoric acid is produced using wet processing, in which a phosphate-containing mineral such as calcium hydroxyapatite or fluoroapatite is treated with sulfuric acid. For the production of food grade phosphoric acid, phosphate ore is smelted to produce elemental phosphorus in an electric arc furnace using coke. The produced acid is purified by removing toxic compounds. It is a used for various applications such as, soaps and detergents, food industry, water treatment, toothpastes, and others.
Rising adoption for phosphoric acid in agriculture sector owing to increasing demand for fertilizers such as diammonium phosphate monoammonium phosphate, and trisodium phosphate, is a major factor expected to drive growth of the global phosphoric acid market over the forecast period. In addition, increasing demand for metal treatment and water treatment, which in turn increase demand for phosphoric acid, is another factor anticipated to fuel growth of the target market in the next coming years. Moreover, increasing adoption of phosphoric acid in other applications such as medical, chemicals, and electronics, are among some factors estimated to drive growth of the potential market over the forecast period.
However, stringent rules and regulations pertaining to environment and increasing adoption of genetically modified seeds are among the factors which may hamper demand for phosphoric acid and restrain growth of the global phosphoric acid market over the forecast period.
Among application, the fertilizer segment is estimated to account major share in terms of revenue and is projected to witness fastest growth in the global phosphoric acid market over the forecast period. Rising demand for grains, vegetables, fruit, and other from the growing population is expected to drive revenue growth of the segment over the forecast period.
The Asia Pacific phosphoric acid market is expected to contribute major revenue share in the target market and is expected to maintain its dominance over the forecast period. Rapid urbanization coupled with growing agricultural activities in countries such as India and China in the region owing to rising demand for crops and cereals is expected drive revenue growth of the market over the forecast period. In addition, growing demand for phosphoric acid in various other applications is anticipated to support revenue growth of phosphoric acid market in the region. The Asia Pacific market is projected to witness highest growth rate in the target market over the forecast period. China is expected to contribute significant share in terms of revenue in the target market in the next coming years. Europe phosphoric acid market is expected to grow at a significant rate in the global phosphoric acid market over the forecast period, followed by North America. Middle East & Africa and Latin America market are anticipated to register moderate growth rate over the forecast period.
Market Segmentation and Key Players Operating in the Global Phosphoric Acid Market:
Segmentation on the Basis of Product Type:
- Food Grade
- Technical Grade
Segmentation on the Basis of Application:
- Food Additives
- Animal Feed
- Others (Water Treatment, Medical, and Electronics)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- PJSC PhosAgro
- Arkema S.A.
- EuroChem Group AG
- The Mosaic Company
- Hanwha Corporation
- OCP S.A.
- Israel Chemical Ltd. (ICL)
- United Phosphorus Ltd. (UPL Limited)
- Innophos Holdings, Inc.
- Prayon S.A.
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