Phosphoric Acid Market Outlook 2024-2033: Trends and Projections

The phosphoric acid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Phosphoric Acid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The phosphoric acid market size has grown strongly in recent years. It will grow from $49.37 billion in 2023 to $52.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to growth in food and beverage industries, production of phosphate-based chemicals, water treatment and purification applications, metal surface treatment processes, demand in pharmaceuticals and dentistry.

The phosphoric acid market size is expected to see strong growth in the next few years. It will grow to $66.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to expansion of renewable energy storage, development of lithium-ion batteries, increase in demand for industrial-grade phosphoric acid, water resource management and treatment, adoption in pharmaceutical manufacturing.. Major trends in the forecast period include green and sustainable phosphoric acid production, phosphoric acid for wastewater nutrient removal, hydrogen production using phosphoric acid, advanced dental applications with phosphoric acid, phosphoric acid for clean energy storage..

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Scope Of Phosphoric Acid Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Phosphoric Acid Market Overview

Market Drivers –
The increasing demand for Di-ammonium Phosphate (DAP) fertilizers is significantly contributing to the growth of the phosphoric acid market. Di-ammonium phosphate is one of a series of water-soluble ammonium phosphate salts that can be produced when ammonia reacts with phosphoric acid. Phosphoric acid is widely utilized in fertilizer production because its combination with finely ground phosphate produces triple superphosphate (TSP), monoammonium phosphate (MAP), and diammonium phosphate (DAP). For instance, according to the World Bank, a US-based international financial institution, phosphate DAP prices jumped 23% owing to increased demand by farmers across the world.. Therefore, the increasing demand for DAP phosphate fertilizers is driving the demand for the phosphoric acid market.

The phosphoric acid market covered in this report is segmented –

1) By Type: Calcium Phosphate, Sodium Tripolyphosphate, Potassium Phosphate, Other Types
2) By Grade: Food, Agricultural, Industrial
3) By Process Type: Furnace Process, Dry Kiln Process, Other Process Types
4) By End-User: Fertilizer, Food and Beverages, Chemicals, Medicine, Metallurgy, Other End-Users

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Regional Insights –
Asia-Pacific was the largest region in the phosphoric acid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phosphoric acid market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the phosphoric acid market include The Mosaic Company, PJSC PhosAgro, Prayon S.A., EuroChem Group AG, OJSC Phosagro, Israel Chemicals Ltd., Yara International, OCP S.A., Yuntianhua Group, Fertiliser and Chemicals Travancore Ltd., Kazphosphate LIC, Solvay S.A., Innophos Holdings Inc., Jordan Phosphate Mines Company, Chemische Fabrik Budenheim KG, Abu Qir Fertilizers and Chemical Industries Company, J.R. Simplot Company, Nutrien Ltd., Haifa Chemicals Ltd., Wengfu Group, Rotem Amfert Negev, Fertiberia S.A., Chemische Fabrik WIBARCO GmbH, Sichuan Chuantou Energy Co. Ltd., Acron Group, Nutrien Ltd., ICL Food Specialties

Table of Contents

1. Executive Summary
2. Phosphoric Acid Market Report Structure
3. Phosphoric Acid Market Trends And Strategies
4. Phosphoric Acid Market – Macro Economic Scenario
5. Global Phosphoric Acid Market Size and Growth
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31. Global Phosphoric Acid Market Competitive Benchmarking
32. Global Phosphoric Acid Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Phosphoric Acid Market
34. Phosphoric Acid Market Future Outlook and Potential Analysis
35. Appendix

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