Phosphoric Acid Market To Power Swiftly and Reach USD 70.22 Billion by 2032

The global Phosphoric Acid Market was valued at USD 48.49 Billion in 2023 and is projected to hit USD 70.22 Billion by 2032, with a compound annual growth rate (CAGR) of 4.2% during the forecast period 2024-2032. The major players in the market are Solaris Chemtech, JDC Phosphate, Hindalco (Aditya Birla Group), Potash Corp., J.R Simplot Company, Spectrum Chemical MFG Corp., Solvay, Prayon, Innophos Holding Inc., Eurochem Group, Agrium Inc., OCP S.A, CECA (Arkema group), Brenntag North America, Indian Farmer Fertilizer Cooperation Limited (IFFCO), and Wengfu Group.

Fertilizer Sector Deemed To Be A Money-Making Quotient For Global Market For Phosphoric Acid

Fertilizer sector deemed to be a money-making quotient for global market for phosphoric acid due to the application in manufacturing of different phosphate fertilizer such as TSP (triple superphosphate), DAP (diammonium hydrogenphosphate), and MAP (monoammonium dihydrogenphosphate). To add up for the rapid elevation in world population, farmers are making effort to improve the crop yield. This will elevate the employment of fertilizer which will increase the development of phosphoric acid market. Shortage of cultivated land in developing & developed nations and subsidies on fertilizers will power the development of the market.

Product Segment Expected To Dominate The Fertilizer Market Due To Shortage Of Cultivated Land And Quick Urbanization

Based on end-user, the market is segmented into food & beverage, electronics, medical, fertilizer, and others such as fire control chemical, water treatment, and so on. Amongst all, the product segment is expected to dominate the fertilizer market due to shortage of cultivated land and quick urbanization. The employment of phosphoric acid as acidity regulator and flavoring agent in food & beverage sector will also power the market in years to come. It has a major role in treatment of water by lowering pipework corrosion, by controlling red & black liquors and pH of water, and deposition of lime scale.

Asia Pacific Claimed To Have Most Development And A Substantial Share Of The Global Market In Consumption As Well As In Production

Asia Pacific is claimed to have most development and will have a substantial share of the global market in consumption as well as in production. The growth of arable land in agrarian nations will increase the requirement of the fertilizers that will in turn increase the development of product sector. India and China are predicted to power the manufacturing of phosphoric acid in years to come owing to rising population.

Browse the full “Phosphoric Acid Market Type (Thermal Process, Wet Process, Others), Grade (Technical Grade, Food Grade), Application(Phosphate, Other Fertilizer Chemicals, Industrial Application, Home Cleaning Agents, Others), End User (Fertilizers, Food Additives, Animal Feed, Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/phosphoric-acid-market

The global phosphoric acid market is segmented as follows:

By process type

• wet process
• thermal process
• other
  • dry kiln process
  • furnace process

By grades

• food grade
• technical grade

By application

• Phosphate
• water-soluble fertilizer

• industrial application
  • rust inhibitor
  • electrolyte in phosphoric acid fuel cell
  • dispersing agent
  • flux

• home cleaning agents
  • soap & detergent
  • others

By end-user

• Fertilizer
• Medical
• food & beverage
• electronics
• others
  • water treatment
  • fire control chemical

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • 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

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com