Global Phosphoric Acid Market Projected to Reach USD 60 Billion By 2026

10-Nov-2020 | Facts and Factors

Findings from Facts and Factors report “Phosphoric Acid Market By Process Type (Wet Process, Thermal Process, and Others), By Grade (Food Grade, and Technical Grade), By Fertilizer Type (Mono-Ammonium Phosphate (MAP), Diammonium Phosphate (DAP), and Triple Superphosphate (TSP)) By Application (Home Cleaning Agents, and Fertilizer Chemicals), and End User (Electronics, Beverage, Medical, Food, Fertilizer, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Phosphoric Acid market in 2019 was approximately USD 45 billion. The market is expected to grow at a CAGR of 4% and is anticipated to reach around USD 60 billion by 2026.

Phosphoric Acid Market Size

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Phosphoric acid is predominantly obtained by the phosphate rocks. Phosphate rocks can be obtained to form colorless Phosphoric acid.

Browse the full “Phosphoric Acid Market By Process Type (Wet Process, Thermal Process, and Others), By Grade (Food Grade, and Technical Grade), By Fertilizer Type (Mono-Ammonium Phosphate (MAP), Diammonium Phosphate (DAP), and Triple Superphosphate (TSP)) By Application (Home Cleaning Agents, and Fertilizer Chemicals), and End User (Electronics, Beverage, Medical, Food, Fertilizer, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026report at https://www.fnfresearch.com/phosphoric-acid-market

The rise in the global population is driving demand for food which is anticipated to propel the growth of the fertilizer industry. The growth of the fertilizer market is boosting the demand for phosphoric acid.

The phosphoric acid market is segmented based on process type, grade, application, fertilizer type, and end-user. Based on process type segmentation, the market is classified into a wet process, thermal process, and others. The wet process is the most common method of producing phosphoric acid and the acid produced from the wet process can be directly utilized by the fertilizer industry. Based on the grade market is split into a food-grade and technical grade. Food grade phosphoric acid is estimated to gain traction in the coming period.

The demand from the agriculture industry is fueling the demand for food-grade acid. In terms of Application segmentation, the market is divided into home cleaning agents, and fertilizer chemicals.  Fertilizer chemicals may generate significant demand for phosphoric acid. The growing population across the globe is surging demand for food which is estimated to create a bolstering demand for fertilizers. Further, on the basis of Fertilizer type Market is segmented into mono-ammonium phosphate (MAP), diammonium phosphate (DAP), and triple superphosphate (TSP). Based on the end-user industry market is split into electronics, beverage, medical, food, fertilizer, and others.

Based on the regional segmentation market is split into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Asia Pacific market is estimated to dominate the market with around 50% of the market share. The growth of the agriculture industry within a region along with the availability of the raw materials in the region is propelling production as well as consumption in the market. On the other hand, due to the strict regulations for the fertilizer industry market may witness slower growth.

Report Scope

Report Attribute

Details

Market Size in 2019

USD 45 Billion

Projected Market Size in 2026

USD 60 Billion

CAGR Growth Rate

4% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

Kazphosphate LIC, Prayon, PJSC PhosAgro, Acron OAO, Yara International, Israel Chemical, Eurochem, OJSC Phosagro, Argium, Nutrien, Potash Corp., CF Industries, OCP, Innophos Holdings, IFFCO, Laxness, Yuntianhua Group, Foskor, Solvay-Rhodia, Italmatch Chemicals, Jordan Phosphate Mines, Chemische Fabric Budenheim, Saudi-Arabian Mining Company, Vale, United Phosphorus, and The Mosaic Company, and Others

Key Segment

By Process, Grade, Application, Fertilizer, End User, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the essential players operating in the Phosphoric Acid market, but not restricted to include

Kazphosphate LIC, Prayon, PJSC PhosAgro, Acron OAO, Yara International, Israel Chemical, Eurochem, OJSC Phosagro, Argium, Nutrien, Potash Corp., CF Industries, OCP, Innophos Holdings, IFFCO, Laxness, Yuntianhua Group, Foskor, Solvay-Rhodia, Italmatch Chemicals, Jordan Phosphate Mines, Chemische Fabric Budenheim, Saudi-Arabian Mining Company, Vale, United Phosphorus, and The Mosaic Company. 

This report segments the Phosphoric Acid market as follows:

By Process Type Segmentation Analysis

  • Wet Process
  • Thermal Process
  • Others

By Grade Segmentation Analysis

  • Food Grade
  • Technical Grade

By Application Segmentation Analysis

  • Mono-Ammonium Phosphate (MAP)
  • Diammonium Phosphate (DAP)
  • Triple Superphosphate (TSP)

By Fertilizer Type Segmentation Analysis

  • Mono-Ammonium Phosphate (MAP)
  • Diammonium Phosphate (DAP)
  • Triple Superphosphate (TSP)

By End User Segmentation Analysis

  • Electronics
  • Beverage
  • Medical
  • Food
  • Fertilizer
  • Others

By Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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