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Global Phosphoric Acid Market Analysis With Key Players, Applications, Trends And Forecast To 2032
Phosphoric Acid Market
As per the phosphoric acid market report by The Business Research Company, 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).
The global phosphoric acid market size grew from $46.53 billion in 2022 to $49.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The phosphoric acid market size is expected to grow to $59.94 billion in 2027 at a CAGR of 5.0%.
Read More On The Phosphoric Acid Market Report Here:
https://www.thebusinessresearchcompany.com/report/phosphoric-acid-global-market-report
Major competitors in the phosphoric acid market include 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 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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the phosphoric acid market.
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Phosphoric acid is a tricrotic acid that exists in the form of a dense liquid. It is corrosive to both human and laboratory animal skin, eyes, and mucous membranes. Dilute solutions of phosphoric acid have a pleasing acid taste. Thus, it is also used as a food additive, lending acidic properties to soft drinks and other prepared foods, and in water treatment products. Phosphoric acid is used as a component of fertilizers, detergents, and many household cleaning products.
The Table Of Content For The Phosphoric acid market 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
......
26. Africa Phosphoric Acid Market
27. Phosphoric Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Phosphoric Acid Market
29. Phosphoric Acid Market Future Outlook and Potential Analysis
30. Appendix
The "Global Phosphoric acid market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion
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