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Phosphoric Acid Global Market Report 2022-2031 | Market Demand, Scope, Overview And Top Key Players The Mosaic Company, PJSC PhosAgro, Prayon, EuroChem Group AG, OJSC Phosagro, Prayon Group
Phosphoric Acid Market
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The global phosphoric acid market report by the business research company identifies 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. Furthermore, according to an article published by the American Farm Bureau Federation, a US-based insurance company, in the year 2019/20 global fertilizer demand was 190.5 MMT (million metric tons), and in 2020/21 global fertilizer demand reached 192.9 MMT (million metric tons). Therefore, the increasing demand for DAP phosphate fertilizers is driving the demand for the phosphoric acid market.
The global phosphoric acid market size is expected to grow from $45.62 billion in 2021 to $49.31 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The phosphoric acid market is expected to reach $59.02 billion in 2026 at a CAGR of 4.6%.
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Asia-Pacific was the largest region in the phosphoric acid market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phosphoric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the phosphoric acid market are The Mosaic Company, PJSC PhosAgro, Prayon, EuroChem Group AG, OJSC Phosagro, Prayon Group, Israel Chemical Ltd., Yara International, OCP S.A., Yuntianhua Group, Fertiliser and Chemicals Travancore Ltd., and Kazphosphate LIC.
The global Phosphoric acid market is segmented -
1) By Type: Calcium Phosphate, Sodium Tripolyphosphate, Potassium Phosphate, Other Types
2) By Grade: Food, Agricultural, Industrial
3) By Process Type: Furnace Process, Dry Kiln Process, Other Process Types
4) By End-User: Fertilizer, Food and Beverages, Chemicals, Medicine, Metallurgy, Other End-Users
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The Phosphoric acid Market Report Contents Include
1. Executive Summary
2. Phosphoric Acid Market Characteristics
3. Phosphoric Acid Market Trends And Strategies
4. Phosphoric Acid Market - Macro Economic Scenario
5. Phosphoric Acid Market Size And Growth
.........
28. Key Mergers And Acquisitions In The Phosphoric Acid Market
29. Phosphoric Acid Market Future Outlook And Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the phosphoric acid market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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The Phosphoric Acid Market is expected to register a CAGR of 4% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
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Based on Apllication Type, By Application Fertilizers, Food and Feed Phosphate, Detergents, Water Treatment Chemicals, Industrial, Electronics.
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• J.R. Simplot Company
• Nutrien Ltd.
• OCP Group
• PJSC PhosAgro
• Prayon Group
• Solvay
• Spectrum Chemical Manufacturing Corporation
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The diammonium hydrogen phosphate market will grow significantly in the years to come with a rate of about 5%, because of the growing need for manure to increase agricultural yields.
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