Phosphoric Acid Market Size | Share, Trends, Growth | Industry Analysis Report, 2020-2026

Phosphoric Acid (COVID-19) Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

Increasing demand for the production of phosphate fertilizers and increasing fertilizers are the key drivers for global phosphoric acid market.

Scope of Phosphoric Acid Report –

Phosphoric acid or orthophosphoric acid which is a mineral or weak acid represented by the chemical formula of H?PO?. It is anon toxic acid which is solid in pure form at room temperature and pressure. It is mostly used for the manufacturing of fertilizers and other uses include cleaning products, food additives and water treatment. It can be produced by three methods: wet process, thermal process and by laboratory routes. The wet process dominates the commercial segments used or the preparation of chemicals and fertilizers. Thermal process produces the most pure form of phosphoric acid which is used as food additive.

Over the years, the applications of phosphoric acid have dramatically improved in terms of use and safety. So, during the study of global phosphoric acid market, we have considered the industrial applications of phosphoric acid to analyze the market.

Global phosphoric acid market report is segmented on the basis of application type,and regional & country level. Based upon Application type, global phosphoric acid market is classified as fertilizers, animal feed, food additives and others.

The regions covered in this Phosphoric Acid Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of phosphoric acid is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

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Key Players

Global Phosphoric Acid market report covers prominent players like Eurochem Group AG,The Mosaic Company,J.R. Simplot Company,WengFu Group,Israel Chemicals Ltd,Maaden, Prayon S.A., OCP Group,Solvay, Yara International, CECA (Arkema Group) and others.

Market Dynamics –

The growth of phosphoric acid market is mainly driven by the increased population. This intern increases the demand for food and fertilizers are required for the nourishment and better production of yield. The growing population is related to high production of fertilizers. According to the Population reference bureau report 2017is estimated the by the end of 2050 the world population will reach 9.8 billion. The use of fertilizer is much higher in the developing countries as compared to the developed countries. Phosphrous is one of the main nutrients absorbed by the plants and helps in their growth. Monoammonium phosphate (MAP), Diammonium phosphate (DAP), and trisodium phosphate (TSP) are fertilizers produced from the phosphoric acid used across the world for the production of crops. Increased demand fertilizers are expected fuel the phosphoric acid market over the forecast period.

As phosphoric acid fertilizers are widely used it lead to pollution of water bodies and increases the growth of algae on the water surface which will reduce the oxygen level in the water. Environmental effects of phosphates may restrict the growth of phosphoric acid market. Major manufacturers of phosphoric acid are looking for strategic collaboration which is expected to create new opportunities for phosphoric acid market over the forecast period.

Market Segmentation –

By Application type Analysis

Fertilizers, Animal Feed, Food Additives, Others

Market Regional Analysis –

North America phosphoric acid market is expected to experience a moderate growth over the forecast period. This is due to the environmental rules and regulation imposed by the government with respect to the use of Phosphoric acid. Europe is expected to experience a significant growth due to the mature market in western and central Europe. Asia Pacific is expected to experience a significant growth due to the presence of developed countries such as India and China. Due to the presence of large reserve rocks in this region are one of the major factors. However, China is the major exporter from this region and India is the major. Latin America, Middle East and Africa are also expected to experience considerable growth over the forecast period.

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