Phosphoric Acid Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	120 Pages	Fortune Business Insights Pvt. Ltd.	September, 2024	FOB19185610

Best Price Guarantee
Price	from $4,850
Length	120 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	September, 2024
SKU	FOB19185610

Phosphoric Acid Market

Growth Factors of Phosphoric Acid Market

The Phosphoric Acid market size was valued at USD 35.2 billion in 2023, and the market is now projected to grow from USD 37.0 billion in 2024 to USD 54.0 billion by 2032, exhibiting a CAGR of 54.55% during the forecast period of 2024-2032.

The demand of phosphoric acid sunk due to the COVID-19 outbreak that affected the supplies of raw materials and the industrial applications. These impacts were brought about by prior lockdowns and restrictions that slowed production and transportation, low economic activity and diminished agricultural yields that in turn lowered demand for phosphoric acid used in fertilizer. Further, some challenges marred the market and they included lack of enough workforce and the high costs of production raw materials. Yet with improvement of economic conditions and initiation of agricultural production the market too started stabilizing and slowly moving up.

Some of the new trends emerging in the phosphoric acid market are that there is a growing concern with the sustainable methods of production that are friendly to the environment. The industry is gradually raising awareness on ways of cutting down the carbon footprint through cleaner methods of production and recycling phosphor-gypsum, which is produced during the manufacturing of phosphoric acid. Further, there is increasing trend observed in food and beverages industry for pure phosphoric acid for additive purposes. In a similar fashion the expanding market in the developing countries, evolving techniques in the production of foods and crops are also increasing the uptake and growth in the sector. Thus, all the above mentioned factors are contributing towards the phosphoric acid growth.

Some of the key drivers that have been linked with the phosphoric acid market include growing market demand for fertilizers across the world due to need to increase production of crops for food security. Industrial uses in manufacturing of detergents and water treatment chemicals are some of the factors that have boost the market. Further, there is the improvement in the technological aspect of farming and the increase in the investments made towards sustainable farming which has created the need for better phosphoric acid. A continued increase in consumerism is fueled by the economic development of the emerging markets while technological advancement in production techniques as well as resource optimization will facilitate market growth.

Comprehensive Analysis Phosphoric Acid Market

Phosphoric acid is used widely in various sectors that are considered as markers of a given economy. In fertilizers, phosphate is required for making phosphate based nutrients, which helps in increasing fertility of the soil and crop production thus contributing to world food production. Phosphoric acid is used in animal feed sector with the view of regulating the nutrition in the correct proportion for the feed, hence improving the growth and health of the animals. It also serves as a food acid, which works as acidifier and pH adjuster with functions in preservation of food as well as enhancement of its flavor and texture. Also, phosphoric acid finds its uses in several other fields like treatment of water and coming up as a material in some industrial processes due to its versatility.

The Asia-Pacific has dominated the phosphoric acid market share owing to its large agriculture industry and increasing rate of industrialization. China and India are good examples of consumer countries due to affluence in production of hi-tech agricultural tractors and an increasing food processing companies. The investments on infrastructure and the industrial development of the region are the primary reasons why the necessity for phosphoric acid use in fertilizers and other uses is constantly rising. Further, the fact that large production centers are located in the Asia-Pacific region and the increasing focus on increasing the yield also explain dominance in the global market.

Key players in this sector include Nutrien (Canada), The Mosaic Company (U.S.), OCP (Morocco), Ma’aden (Saudi Arabia), EuroChem Group AG (Switzerland)

Some of the mainstream trends occurring in the phosphoric acid market were recorded in 2023, especially in high purity phosphoric acid products. Due to increased necessity of this grade in the food and beverage sub-sector as an element used in production of additives and preservatives among others, there is rising demand. These concerns have put pressure on food producers to develop better food processing techniques to ensure compliance to the set laws. Further, changes in the technique of farming require improved phosphoric acid products for enhanced nutrient absorption and application in fertilizers that are consistent with the rising trends in sustainable farming techniques.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2019-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.9% during 2019-2032

Unit Value (USD Billion) and Volume (Kiloton)

Segmentation By Application

- Fertilizers

- Animal Feed

- Food Additives

- Others

By Geography

- North America (By Application, By Country)

U.S. (By Application)
Canada (By Application)

- Europe (By Application, By Country)

Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Rest of Europe (By Application)

- Asia Pacific (By Application, By Country)

China (By Application)
Japan (By Application)
India (By Application)
ASEAN (By Application)
Rest of Asia Pacific (By Application)

- Latin America (By Application, By Country)

Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)

- Middle East & Africa (By Application, By Country)

GCC (By Application)
South Africa (By Application)
Rest of Middle East & Africa (By Application)

Please Note:

1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities
4. Key Insights: 4.1. Key Emerging Trends – For Major Regions; 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.; 4.3. Latest Technological Advancement; 4.4. Insights on Regulatory Scenario; 4.5. Porters Five Forces Analysis; 4.6. Impact of COVID-19 on the Market
5. Global Phosphoric Acid Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. By Application (Volume/Value); 5.2.1. Fertilizers; 5.2.1.1. Diammonium Phosphate (DAP); 5.2.1.2. Monoammonium Phosphate (MAP); 5.2.1.3. Trisodium Phosphate (TSP); 5.2.1.4. Others; 5.2.2. Animal Feed; 5.2.3. Food Additives; 5.2.4. Others; 5.3. By Region (Volume/Value); 5.3.1. North America; 5.3.2. Europe; 5.3.3. Asia Pacific; 5.3.4. Latin America; 5.3.5. Middle East & Africa
6. North America Phosphoric Acid Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. By Application (Volume/Value); 6.2.1. Fertilizers; 6.2.1.1. Diammonium Phosphate (DAP); 6.2.1.2. Monoammonium Phosphate (MAP); 6.2.1.3. Trisodium Phosphate (TSP); 6.2.1.4. Others; 6.2.2. Animal Feed; 6.2.3. Food Additives; 6.2.4. Others; 6.3. By Country (Volume/Value); 6.3.1. U.S.; 6.3.1.1. By Application (Volume/Value); 6.3.1.1.1. Fertilizers; 6.3.1.1.1.1. Diammonium Phosphate (DAP); 6.3.1.1.1.2. Monoammonium Phosphate (MAP); 6.3.1.1.1.3. Trisodium Phosphate (TSP); 6.3.1.1.1.4. Others; 6.3.1.1.2. Animal Feed; 6.3.1.1.3. Food Additives; 6.3.1.1.4. Others; 6.3.2. Canada; 6.3.2.1. By Application (Volume/Value); 6.3.2.1.1. Fertilizers; 6.3.2.1.1.1. Diammonium Phosphate (DAP); 6.3.2.1.1.2. Monoammonium Phosphate (MAP); 6.3.2.1.1.3. Trisodium Phosphate (TSP); 6.3.2.1.1.4. Others; 6.3.2.1.2. Animal Feed; 6.3.2.1.3. Food Additives; 6.3.2.1.4. Others
7. Europe Phosphoric Acid Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. By Application (Volume/Value); 7.2.1. Fertilizers; 7.2.1.1. Diammonium Phosphate (DAP); 7.2.1.2. Monoammonium Phosphate (MAP); 7.2.1.3. Trisodium Phosphate (TSP); 7.2.1.4. Others; 7.2.2. Animal Feed; 7.2.3. Food Additives; 7.2.4. Others; 7.3. By Country (Volume/Value); 7.3.1. Germany; 7.3.1.1. By Application (Volume/Value); 7.3.1.1.1. Fertilizers; 7.3.1.1.1.1. Diammonium Phosphate (DAP); 7.3.1.1.1.2. Monoammonium Phosphate (MAP); 7.3.1.1.1.3. Trisodium Phosphate (TSP); 7.3.1.1.1.4. Others; 7.3.1.1.2. Animal Feed; 7.3.1.1.3. Food Additives; 7.3.1.1.4. Others; 7.3.2. U.K.; 7.3.2.1. By Application (Volume/Value); 7.3.2.1.1. Fertilizers; 7.3.2.1.1.1. Diammonium Phosphate (DAP); 7.3.2.1.1.2. Monoammonium Phosphate (MAP); 7.3.2.1.1.3. Trisodium Phosphate (TSP); 7.3.2.1.1.4. Others; 7.3.2.1.2. Animal Feed; 7.3.2.1.3. Food Additives; 7.3.2.1.4. Others; 7.3.3. France; 7.3.3.1. By Application (Volume/Value); 7.3.3.1.1. Fertilizers; 7.3.3.1.1.1. Diammonium Phosphate (DAP); 7.3.3.1.1.2. Monoammonium Phosphate (MAP); 7.3.3.1.1.3. Trisodium Phosphate (TSP); 7.3.3.1.1.4. Others; 7.3.3.1.2. Animal Feed; 7.3.3.1.3. Food Additives; 7.3.3.1.4. Others; 7.3.4. Italy; 7.3.4.1. By Application (Volume/Value); 7.3.4.1.1. Fertilizers; 7.3.4.1.1.1. Diammonium Phosphate (DAP); 7.3.4.1.1.2. Monoammonium Phosphate (MAP); 7.3.4.1.1.3. Trisodium Phosphate (TSP); 7.3.4.1.1.4. Others; 7.3.4.1.2. Animal Feed; 7.3.4.1.3. Food Additives; 7.3.4.1.4. Others; 7.3.5. Rest of Europe; 7.3.5.1. By Application (Volume/Value); 7.3.5.1.1. Fertilizers; 7.3.5.1.1.1. Diammonium Phosphate (DAP); 7.3.5.1.1.2. Monoammonium Phosphate (MAP); 7.3.5.1.1.3. Trisodium Phosphate (TSP); 7.3.5.1.1.4. Others; 7.3.5.1.2. Animal Feed; 7.3.5.1.3. Food Additives; 7.3.5.1.4. Others
8. Asia-Pacific Phosphoric Acid Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. By Application (Volume/Value); 8.2.1. Fertilizers; 8.2.1.1. Diammonium Phosphate (DAP); 8.2.1.2. Monoammonium Phosphate (MAP); 8.2.1.3. Trisodium Phosphate (TSP); 8.2.1.4. Others; 8.2.2. Animal Feed; 8.2.3. Food Additives; 8.2.4. Others; 8.3. By Country (Volume/Value); 8.3.1. China; 8.3.1.1. By Application (Volume/Value); 8.3.1.1.1. Fertilizers; 8.3.1.1.1.1. Diammonium Phosphate (DAP); 8.3.1.1.1.2. Monoammonium Phosphate (MAP); 8.3.1.1.1.3. Trisodium Phosphate (TSP); 8.3.1.1.1.4. Others; 8.3.1.1.2. Animal Feed; 8.3.1.1.3. Food Additives; 8.3.1.1.4. Others; 8.3.2. Japan; 8.3.2.1. By Application (Volume/Value); 8.3.2.1.1. Fertilizers; 8.3.2.1.1.1. Diammonium Phosphate (DAP); 8.3.2.1.1.2. Monoammonium Phosphate (MAP); 8.3.2.1.1.3. Trisodium Phosphate (TSP); 8.3.2.1.1.4. Others; 8.3.2.1.2. Animal Feed; 8.3.2.1.3. Food Additives; 8.3.2.1.4. Others; 8.3.3. India; 8.3.3.1. By Application (Volume/Value); 8.3.3.1.1. Fertilizers; 8.3.3.1.1.1. Diammonium Phosphate (DAP); 8.3.3.1.1.2. Monoammonium Phosphate (MAP); 8.3.3.1.1.3. Trisodium Phosphate (TSP); 8.3.3.1.1.4. Others; 8.3.3.1.2. Animal Feed; 8.3.3.1.3. Food Additives; 8.3.3.1.4. Others; 8.3.4. ASEAN; 8.3.4.1. By Application (Volume/Value); 8.3.4.1.1. Fertilizers; 8.3.4.1.1.1. Diammonium Phosphate (DAP); 8.3.4.1.1.2. Monoammonium Phosphate (MAP); 8.3.4.1.1.3. Trisodium Phosphate (TSP); 8.3.4.1.1.4. Others; 8.3.4.1.2. Animal Feed; 8.3.4.1.3. Food Additives; 8.3.4.1.4. Others; 8.3.5. Rest of Asia Pacific; 8.3.5.1. By Application (Volume/Value); 8.3.5.1.1. Fertilizers; 8.3.5.1.1.1. Diammonium Phosphate (DAP); 8.3.5.1.1.2. Monoammonium Phosphate (MAP); 8.3.5.1.1.3. Trisodium Phosphate (TSP); 8.3.5.1.1.4. Others; 8.3.5.1.2. Animal Feed; 8.3.5.1.3. Food Additives; 8.3.5.1.4. Others
9. Latin America Phosphoric Acid Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. By Application (Volume/Value); 9.2.1. Fertilizers; 9.2.1.1. Diammonium Phosphate (DAP); 9.2.1.2. Monoammonium Phosphate (MAP); 9.2.1.3. Trisodium Phosphate (TSP); 9.2.1.4. Others; 9.2.2. Animal Feed; 9.2.3. Food Additives; 9.2.4. Others; 9.3. By Country (Volume/Value); 9.3.1. Brazil; 9.3.1.1. By Application (Volume/Value); 9.3.1.1.1. Fertilizers; 9.3.1.1.1.1. Diammonium Phosphate (DAP); 9.3.1.1.1.2. Monoammonium Phosphate (MAP); 9.3.1.1.1.3. Trisodium Phosphate (TSP); 9.3.1.1.1.4. Others; 9.3.1.1.2. Animal Feed; 9.3.1.1.3. Food Additives; 9.3.1.1.4. Others; 9.3.2. Mexico; 9.3.2.1. By Application (Volume/Value); 9.3.2.1.1. Fertilizers; 9.3.2.1.1.1. Diammonium Phosphate (DAP); 9.3.2.1.1.2. Monoammonium Phosphate (MAP); 9.3.2.1.1.3. Trisodium Phosphate (TSP); 9.3.2.1.1.4. Others; 9.3.2.1.2. Animal Feed; 9.3.2.1.3. Food Additives; 9.3.2.1.4. Others; 9.3.3. Rest of Latin America; 9.3.3.1. By Application (Volume/Value); 9.3.3.1.1. Fertilizers; 9.3.3.1.1.1. Diammonium Phosphate (DAP); 9.3.3.1.1.2. Monoammonium Phosphate (MAP); 9.3.3.1.1.3. Trisodium Phosphate (TSP); 9.3.3.1.1.4. Others; 9.3.3.1.2. Animal Feed; 9.3.3.1.3. Food Additives; 9.3.3.1.4. Others
10. Middle East & Africa Phosphoric Acid Market Analysis, Insights and Forecast, 2019-2032: 10.1. Key Findings / Summary; 10.2. By Application (Volume/Value); 10.2.1. Fertilizers; 10.2.1.1. Diammonium Phosphate (DAP); 10.2.1.2. Monoammonium Phosphate (MAP); 10.2.1.3. Trisodium Phosphate (TSP); 10.2.1.4. Others; 10.2.2. Animal Feed; 10.2.3. Food Additives; 10.2.4. Others; 10.3. By Country (Volume/Value); 10.3.1. GCC; 10.3.1.1. By Application (Volume/Value); 10.3.1.1.1. Fertilizers; 10.3.1.1.1.1. Diammonium Phosphate (DAP); 10.3.1.1.1.2. Monoammonium Phosphate (MAP); 10.3.1.1.1.3. Trisodium Phosphate (TSP); 10.3.1.1.1.4. Others; 10.3.1.1.2. Animal Feed; 10.3.1.1.3. Food Additives; 10.3.1.1.4. Others; 10.3.2. South Africa; 10.3.2.1. By Application (Volume/Value); 10.3.2.1.1. Fertilizers; 10.3.2.1.1.1. Diammonium Phosphate (DAP); 10.3.2.1.1.2. Monoammonium Phosphate (MAP); 10.3.2.1.1.3. Trisodium Phosphate (TSP); 10.3.2.1.1.4. Others; 10.3.2.1.2. Animal Feed; 10.3.2.1.3. Food Additives; 10.3.2.1.4. Others; 10.3.3. Rest of Middle East & Africa; 10.3.3.1. By Application (Volume/Value); 10.3.3.1.1. Fertilizers; 10.3.3.1.1.1. Diammonium Phosphate (DAP); 10.3.3.1.1.2. Monoammonium Phosphate (MAP); 10.3.3.1.1.3. Trisodium Phosphate (TSP); 10.3.3.1.1.4. Others; 10.3.3.1.2. Animal Feed; 10.3.3.1.3. Food Additives; 10.3.3.1.4. Others
11. Competitive Analysis: 11.1. Market Share/Ranking Analysis, By Key Manufacturer; 11.2. Company Profiles; 11.2.1. Nutrien; 11.2.1.1. Overview; 11.2.1.2. Description; 11.2.1.3. Product Portfolio; 11.2.1.4. Financials (As per Availaibity); 11.2.1.5. Recent Developments; 11.2.2. The Mosaic Company; 11.2.2.1. Overview; 11.2.2.2. Description; 11.2.2.3. Product Portfolio; 11.2.2.4. Financials (As per Availaibity); 11.2.2.5. Recent Developments; 11.2.3. OCP; 11.2.3.1. Overview; 11.2.3.2. Description; 11.2.3.3. Product Portfolio; 11.2.3.4. Financials (As per Availaibity); 11.2.3.5. Recent Developments; 11.2.4. Ma’aden; 11.2.4.1. Overview; 11.2.4.2. Description; 11.2.4.3. Product Portfolio; 11.2.4.4. Financials (As per Availaibity); 11.2.4.5. Recent Developments; 11.2.5. EuroChem Group AG; 11.2.5.1. Overview; 11.2.5.2. Description; 11.2.5.3. Product Portfolio; 11.2.5.4. Financials (As per Availaibity); 11.2.5.5. Recent Developments; 11.2.6. Solvay S.A.; 11.2.6.1. Overview; 11.2.6.2. Description; 11.2.6.3. Product Portfolio; 11.2.6.4. Financials (As per Availaibity); 11.2.6.5. Recent Developments; 11.2.7. Arkema; 11.2.7.1. Overview; 11.2.7.2. Description; 11.2.7.3. Product Portfolio; 11.2.7.4. Financials (As per Availaibity); 11.2.7.5. Recent Developments
12. Strategic Recommendations