Phosphoric Acid Market | Global Industry Analysis 2025
Global Phosphoric Acid Market was Valued at US$ XX Mn in 2017, Surge in demand for agriculture.
Analyst Speak:
“The Global Phosphoric acid Market was valued around US$ XX Mn by 2017 and growing at a significant CAGR over seven years forecast period 2018-2024 owing to increase in the demand for phosphate based fertilizers, food and beverage industries, rapid industrialization, increased water treatment programs and increasing demand for phosphoric acid in different fields.
Precision Business Insights (PBI) in its report titled “Global Phosphoric acid Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global phosphoric acid market was valued at US$ XX Mn in 2017 and increasing at a significant CAGR over the forecast timeframe owing to surge in the agriculture, technological advancements in different fields which utilizes phosphoric acid, government initiatives to prevent water pollution which causes damage to the environment, and advanced services of top phosphoric acid companies are expected to drive the global phosphoric acid market. However, the harmful effects of phosphoric acid on living beings and environment high cost of preparation of phosphoric acid and development of genetically modified seeds and plants are anticipated to hinder the revenue share of global phosphoric acid market.
Global phosphoric acid market segmented on the basis of process, application, grade, end user and region
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Fertilizer Industry Dominates the Global Phosphoric acid Market
Based on the end user, global phosphoric acid market segmented into fertilizer, medical, food & beverage, electronics, and others. Fertilizer industry dominated the global phosphoric acid market in 2017 and estimated to dominate over the forecast period owing to rise in demand for agricultural products, increased focus on agriculture in most of the countries and increased government care towards farmers and agriculture surge the market over the forecast years. However, a faster growth rate observed in food & beverages industry because of increasing demand.
Asia Pacific leads the Global Phosphoric acid Market
PBI’s global phosphoric acid market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia pacific accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to the population of farmers, high demand for agriculture, high demand for food & beverage industry, increase in water treatment plants and programs initiated by the government propel the market. Middle East and Latin America phosphoric acid market projected to exhibit significant growth due to increasing demand of phosphoric acid in various industries like industrial, medical, and home cleaning. However, the effects of phosphoric acid on human skin and environment is declining the global phosphoric acid market.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Global phosphoric acid market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent ecofriendly product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, Agrium Inc. merged with Potash Corporation. And formed a new company named Nutrien Ltd. In January 2018. The new company formed strengthened its position in global phosphoric acid market.
Key player’s profiles in the report are
• Nutrien (Canada)
• Phosagro (Russia)
• Hanwha Corporation, (South Korea)
• Innophos Holdings, Inc. (U.S.)
• The Mosaic Company (U.S.)
• Sinofert Holdings. (China)
• Israel Chemical Ltd. (Israel)
• Solvay (Canada)
• Agrium Inc. (France)
• Jordan Phosphate Mines Company PLC. (Jordan)
Detailed Segmentation
By Process Type
• Wet process
• Thermal process
• Others
By Application
• Phosphate chemicals,
• Other industrial Applications,
• Home cleaning agents
• Others
By Grade
• Technical grade,
• Food Grade
By end user
• Fertilizer,
• Medical,
• Food & beverage,
• Electronics,
• Others
Geography
• North America
• U.S
• Canada
• Europe
• Germany
• France
• U.K
• Italy
• Spain
• Russia
• Poland
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Venezuela
• Rest of Latin America
• Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA
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