Phosphoric Acid

Global Phosphoric Acid Market to Reach US$62.4 Billion by 2030

The global market for Phosphoric Acid estimated at US$48.5 Billion in the year 2024, is expected to reach US$62.4 Billion by 2030, growing at a CAGR of 4.3% over the analysis period 2024-2030. Diammonium Hydrogenphosphate, one of the segments analyzed in the report, is expected to record a 4.6% CAGR and reach US$24.6 Billion by the end of the analysis period. Growth in the Monoammonium Dihydrogenphosphate segment is estimated at 5.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$12.9 Billion While China is Forecast to Grow at 6.8% CAGR

The Phosphoric Acid market in the U.S. is estimated at US$12.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.0 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.3% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Global Phosphoric Acid Market - Key Trends and Drivers Summarized

The Vital Role of Phosphoric Acid in Modern Industry

Phosphoric acid (H3PO4) is a colorless, odorless, and non-volatile liquid that plays a critical role in various industrial applications. It is primarily produced by treating phosphate rock with sulfuric acid, resulting in a highly reactive and versatile compound. One of the most significant uses of phosphoric acid is in the production of phosphate fertilizers, which are essential for modern agriculture. These fertilizers contribute to soil fertility and crop yield, helping to meet the global food demand. Beyond agriculture, phosphoric acid is a key ingredient in the food and beverage industry, where it acts as an acidity regulator in products like soft drinks and processed foods. Its importance extends to the pharmaceutical industry, where it is used in the manufacture of medications and dental products.

How Is Phosphoric Acid Utilized in Industrial Applications?

Phosphoric acid’s utility spans a wide range of industrial applications due to its chemical properties. In addition to its vital role in fertilizer production, it is used as a rust inhibitor, dispersing agent, and catalyst in various chemical processes. The metal finishing industry utilizes phosphoric acid for cleaning and etching metals, providing a clean and reactive surface for further processing. In the manufacturing of detergents and cleaning agents, it acts as a key component in formulations that remove hard water stains and mineral deposits. The electronics industry also benefits from phosphoric acid in the production of semiconductors, where it is used in etching solutions to create intricate circuit patterns. These diverse applications highlight the compound`s indispensable nature across multiple sectors.

What Are the Safety and Environmental Considerations for Phosphoric Acid?

While phosphoric acid is immensely useful, handling it requires strict adherence to safety and environmental protocols. It is a corrosive substance that can cause severe irritation and burns upon contact with skin or eyes. Inhalation of its fumes can lead to respiratory issues, necessitating proper ventilation and protective equipment during its use. Environmentally, phosphoric acid must be managed carefully to prevent soil and water contamination, which can result from improper disposal or accidental spills. Regulatory frameworks ensure that industries adhere to guidelines for safe handling, storage, and disposal of phosphoric acid. These regulations are designed to protect workers, consumers, and the environment from potential hazards associated with the compound’s industrial use.

What Factors Are Driving Growth in the Phosphoric Acid Market?

The growth in the phosphoric acid market is driven by several factors. Firstly, the increasing global demand for agricultural productivity is propelling the need for phosphate fertilizers, which are directly derived from phosphoric acid. Technological advancements in agricultural practices and the growing emphasis on food security further support this demand. Additionally, the expanding food and beverage industry, particularly the rising consumption of processed and convenience foods, is boosting the need for phosphoric acid as an acidity regulator. The industrial sector`s continuous growth, including metal treatment and semiconductor manufacturing, is also contributing to market expansion. Furthermore, regulatory support for sustainable agricultural practices and safe chemical use is fostering innovation and adoption of phosphoric acid-based products. These drivers collectively ensure robust growth and dynamic developments in the phosphoric acid market, reflecting its integral role in various essential industries.

SCOPE OF STUDY:

The report analyzes the Phosphoric Acid market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (Diammonium Hydrogenphosphate, Monoammonium Dihydrogenphosphate, Triple Superphosphate, Other Applications); End-Use (Fertilizers, Animal Feed, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 38 Featured) -

• Arkema Group
• Eurochem Group AG
• Israel Chemicals Ltd.
• J.R. Simplot Company
• Maaden - Saudi Arabian Mining Company
• Nutrien Ltd.
• Ocp S.A.
• Prayon S.A.
• Solvay SA
• The Mosaic Company
• Wengfu Group
• Yara International ASA

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.