Global Phosphoric Acid Market Would Grow At 2.5%, Compounded Annually From 2018 to 2026 to Reach USD 17.4 BN | J.R. Simplot Company, Yara International, Israel Chemicals Ltd., The Mosaic Company, Eurochem Group AG, Nutrien Ltd., Prayon S.A., OCP Group

As per Research, “This segment would contribute significantly to the overall growth of global phosphoric acid market. And, the global phosphoric market would grow at 2.5%, compounded annually from 2018 to 2026.” This growth would help improve the market worth – pull it from USD 13,4 bn. in 2017 to USD 17.4 bn. in 2026.

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Phosphoric acid, also known as orthophosphoric acid, is a mineral and weak acid with chemical formula H3PO4. In terms of production value, phosphoric acid is the inorganic acid produced and consumed in the highest amount. In terms of volume, it is the second-most produced and consumed inorganic acid, after sulfuric acid. The leading use of phosphoric acid is in the manufacture of phosphate chemicals. Phosphoric acid can be produced by two commercial methods: wet process and thermal process. Wet process phosphoric acid is used in fertilizer production. Thermal process phosphoric acid is of higher purity and it is used in the manufacture of high-grade chemicals, pharmaceuticals, detergents, food products, beverages, and other non-fertilizer products.

Phosphorus acid is also known as orthophosphoric acid, and it is used in the manufacture of the fertilizers. At the industrial level, phosphoric acid is produced by two methods: the thermal process and the wet process. The wet process method is predominantly used in the commercial sector. The more expensive thermal process method produces a purer product, which is used in the food industry. In wet process, phosphoric acid is produced from the phosphate rock. The process involves addition of concentrated sulfuric acid into a series of well-stirred reactors. The thermal process method requires raw materials such as elemental (yellow) phosphorus, air, and water for the production of phosphoric acid. The following steps are a part of the thermal process method: combustion, hydration, and demisting.

Based on application, the market for phosphoric acid can be divided into fertilizers, food additives, animal feed, and others. Fertilizers is the key application segment of the global phosphoric acid market. The fertilizers segment can be sub-divided into diammonium phosphate (DAP), monoammonium phosphate (MAP), and trisodium phosphate (TSP), and others. DAP is the major sub-segment of the fertilizers segment. It is followed by the animal feed segment. Phosphoric acid is the key ingredient of animal feed. Phosphorous acts as a building block not only for plants, but also for humans and animals. Most notably, phosphorus aids in a variety of cell functions to build strong bones and teeth. It contributes to several other biological processes. Phosphorus is the key ingredient of animal feeds such as monocalcium phosphate (MCP) and dicalcium phosphate (DCP). Phosphate animal feeds play a critical role in maintaining livestock healthy.

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Based on region, the global phosphoric acid market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the global phosphoric acid market. It is followed by Latin America and North America. Increase in agricultural activities, followed by rise in the demand for food in these regions, is a major factor augmenting the demand for phosphoric acid in Latin America and North America. The large number of phosphate rock reserves in Asia Pacific and Latin America promotes growth of the phosphoric acid market in these regions.

The report analyzes and forecasts the market for phosphoric acid at the global and regional levels. The market has been projected in terms of volume (kilo tons) and revenue (US$ Mn) from 2017 to 2026. The study includes drivers and restraints for the global phosphoric acid market. It also covers the impact of these drivers and restraints on the demand for phosphoric acid during the forecast period. The report also highlights opportunities for growth of the phosphoric acid market at the global and regional levels.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global phosphoric acid market. Porter’s five forces model for the phosphoric acid market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein application segments have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global phosphoric acid market by segmenting it in terms of application and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for phosphoric acid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual application segments of the market in all regions.

The study includes profiles of major companies operating in the global phosphoric acid market. Key players profiled in the report are The Mosaic Company, Nutrien Ltd., Israel Chemicals Ltd., OCP Group, Yara International, Maaden, Eurochem Group AG, WengFu Group, Prayon S.A., J.R. Simplot Company, Solvay, and CECA (Arkema Group). Market players have been profiled in terms of attributes such as company overview, business strategies, recent developments, and SWOT analysis.

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The report provides the estimated market size of the global phosphoric acid market for 2017 and forecast for the next nine years. The size of the global phosphoric acid market has been provided in terms of revenue. Market numbers have been estimated based on application and region. Market size and forecast for each application segment have been provided for global and regional markets.

Global Phosphoric Acid Market – Application Analysis

Fertilizers
Diammonium Phosphate (DAP)
Monoammonium Phosphate (MAP)
Trisodium Phosphate (TSP)
Others
Food Additives
Animal Feed
Others
Global Phosphoric Acid Market – Regional Analysis

North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
France
U.K.
Italy
Spain
Russia & CIS
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
South Korea
Rest of Asia Pacific
Middle East & Africa
South Africa
Egypt
Rest of Middle East & Africa

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Key Takeaways

The report provides extensive analysis of market trends from 2017 to 2026 in order to identify opportunities and market developments
It provides comparative analysis of various applications wherein phosphoric acid is used
It offers analysis of phosphoric acid production processes
The report also includes major production sites of phosphoric acid in North America, Europe, and Asia Pacific as well as the list of manufacturers
It identifies key factors responsible to build the roadmap for upcoming opportunities for the phosphoric acid market at the global, regional, and country levels
The report offers comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global phosphoric acid market between 2017 and 2026
The report provides detailed competition landscape for key players dominating the market in order to understand competition level
Porters’ five forces analysis and SWOT analysis to highlight the power of buyers and suppliers

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