Global Phosphoric Acid Market Size To Grow USD 83.24 Billion By 2032 | Key Players are Arkema, Eurochem Group AG, OCP Group S.A., ICL Group Ltd. and others

According to a research report published by Spherical Insights & Consulting, the Global Phosphoric Acid Market Size is to grow from USD 50.46 Billion in 2022 to USD 83.24 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.13% during the projected period.

Comprehensive historical analysis of global market for Phosphoric Acid Market has thoroughly analyzed in this report. It offers data and insights from 2018-2021, and provides extensive market forecasts from 2022-2032 by region/country and subsectors. It covers the price, sales volume, revenue, historical growth, gross margin, and future outlooks for the Global Phosphoric Acid Market.

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Market Overview
Orthophosphoric acid, another name for phosphoric acid, is a dense liquid triprotic acid that has the chemical formula H3PO4. Normally available as an aqueous solution of about 85%, the acid is a colorless, odorless, and non-volatile liquid. One of the most widely utilized acids in many different industries, phosphoric acid makes up around 80% of the overall output and is mostly used in the production of fertilizer. The increasing need for chemical fertilizers derived from phosphoric acid due to the world's expanding population is driving the use of phosphoric acid.

Growing populations increase the demand for food, which is met by fertilizer-fed crops. Compared to emerging nations, developing nations and territories require a lot more fertilizer. The market has also profited from the continuous discussion on food safety in relation to crop yield and appropriate crop cultivation. The importance of these bio-based solutions competitive advantages over currently available conventional fertilizers has been brought to light by their rising popularity.

The global Phosphoric Acid Market is witnessing robust growth due to:
>>The rising number of agricultural applications, especially in fertilizers (e.g. DAP, MAP), driven by global food demand and the need for enhanced crop yields

>>Increasing demand across non‐fertilizer sectors, such as food & beverage (acidulants and preservatives), water treatment, pharmaceuticals, and industrial cleaning

>>Technological innovations in wet‐process production, refinement technologies, and capacity expansion that improve efficiency, yield, and regional supply resilience

Browse key industry insights spread across 215 pages with 122 Market data tables and figures & charts from the report on the Global Phosphoric Acid Market Size, Share, and COVID-19 Impact Analysis, By Process Type (Wet, Thermal), By Grade (Technical, Industrial), By Concentration (75%, 85%, 92%), By Application (Fertilizers, Feed & Food Additives, Catalyst, Water Treatment Chemicals, Metal Treatment, Cleaning & Sanitizing Agent, Industrial Use, Animal Feed, Others), By Industry Verticals (Agriculture, Energy, Industrial Cleaning, General Industrial, Construction, Water Treatment, Food & Beverage, Others), By Sales Channel (Direct Sale, Indirect Sale), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 - 2032

With the most revenue share during the forecast period, the wet process segment is leading the market.

The worldwide phosphoric acid market is divided into two segments based on the type of process: wet and thermal. With the biggest revenue share of 68.6% over the forecast period, the wet process segment is leading the market among these. Despite being impure, the phosphoric acid generated by the wet process can be utilized straight away in the production of fertilizer without undergoing purification. The main driving force behind the wet approach is the rising fertilizer use.

Over the course of the predicted period, the industrial segment is seeing a notable compound annual growth rate.

The worldwide phosphoric acid market is divided into technical and industrial segments based on grade type. The industrial segment is one of these that is growing at a notable CAGR during the projection period. Industrial-grade phosphoric acid is used in the food additive, fertilizer, animal feed, detergent (liquid laundry detergent), and other industries.

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Throughout the forecast period, Asia Pacific holds the greatest market share and leads the industry.

With a market share of about 53.7% during the projection period, Asia Pacific is leading the industry. Both the region's enormous demand for processed foods and the existence of numerous well-known fertilizer manufacturers might be attributed to this dominance. The agricultural sector is presently led by Asia Pacific, which also uses the most fertilizer. The accessibility to affluent locations, a sizable population, great weather, and significant exports from developing nations are the main causes of this. The phosphoric acid market is driven by rising fertilizer demand in China, India, and Indonesia.

Over the course of the projected period, North America is anticipated to increase at the fastest rate.

Conversely, during the course of the projected period, North America is anticipated to increase at the fastest rate. The food, beverage, and pharmaceutical industries' rising need for phosphoric acid is primarily responsible for the markets growth. The Europe market is anticipated to grow at a substantial CAGR over the course of the projected period. The pharmaceutical industry's increased need for phosphoric acid and fertilizer producers growing demand are the primary drivers of the markets growth.

Leading players of Phosphoric Acid Market including:
• Arkema
• Eurochem Group AG
• OCP Group S.A.
• Phosagro Group of Companies
• ICL Group Ltd.
• Nutrien Ltd.
• IFFCO
• The Mosaic Company
• Solvay S.A.
• OCP
• PhosAgro
• ArrMaz Products, Inc.
• Chuanlin Chemical
• Nutrien
• Haifa Group
• Aditya Birla Chemicals
• Hydrite Chemical Co.
• Chuandong Chemical Co., Ltd.
• LANXESS
• Others

Market Challenges - Phosphoric Acid Market
Volatile Raw Material Prices
>>The fluctuating cost of phosphate rock, sulfur, and other key inputs significantly impacts production margins and pricing stability.

Stringent Environmental Regulations
>>Governments across North America, Europe, and Asia-Pacific are tightening environmental norms, especially on emissions and waste disposal during acid production.

High Energy Consumption and Carbon Footprint
>>The production of phosphoric acid, especially through wet and thermal processes, requires large energy inputs, raising sustainability concerns.

Geopolitical Dependency on Limited Producers
>>A major share of phosphate rock reserves is concentrated in a few countries (like Morocco and China), leading to supply chain vulnerabilities.

Competition from Alternative Products
>>Emerging green and organic fertilizers, as well as acid substitutes in food and industrial applications, are putting pressure on market share.

Waste Management Issues
>>Byproducts like phosphogypsum, generated during acid production, present disposal and environmental hazards that must be addressed.

Research Objectives - Phosphoric Acid Market

To Analyze Current Market Trends and Dynamics
>>Understand the ongoing trends, driving factors, and restraints influencing the growth of the global phosphoric acid market.

To Estimate Market Size and Forecast Growth
>>Provide quantitative analysis of the market size (in terms of value and volume) and forecast growth during the projected period.

To Segment the Market Based on Application, Type, and Region
>>Identify the major segments (e.g., food-grade, fertilizer-grade) and assess their performance across different geographic regions.

To Evaluate Competitive Landscape
>>Analyze key market players, their product offerings, strategic initiatives, and market positioning.

Regional Segment Analysis of the Global Phosphoric Acid Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

What's covered in the report?
1. Overview of the Phosphoric Acid Market.
2. The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Phosphoric Acid Market, based on segment.
3 Phosphoric Acid Market trends.
4. Phosphoric Acid Market drivers.
5. Analysis of major company profiles.

PESTLE Analysis: Phosphoric Acid Market
Political Factors
>>Government Regulations on Fertilizers & Chemicals: Many countries regulate phosphate use in agriculture due to environmental concerns, which can affect demand.

Economic Factors
>>Fluctuations in Raw Material Costs: Volatility in sulfur and phosphate rock prices impacts profit margins.
>>Global Agricultural Demand: Since a large portion of phosphoric acid is used in fertilizers, agricultural trends and food demand directly influence market performance.

Social Factors
>>Growing Population & Food Demand: Rising food consumption drives demand for fertilizers, which in turn supports phosphoric acid usage.

Technological Factors
>>Advancements in Manufacturing Efficiency: Newer, more energy-efficient production technologies can reduce operational costs.

Legal Factors
>>Stringent Environmental Regulations: Complying with EPA, REACH, and other international standards is crucial for manufacturers.

Environmental Factors
>>Waste Disposal Challenges: Proper disposal of hazardous by products is a growing concern.
>>Carbon Emissions: High emissions from production processes may lead to future penalties or the need for carbon offset strategies.

Table of Content (TOC)
• Introduction
1. Objectives of the Study
2. Market Definition
3. Research Scope
• Research Methodology and Assumptions
• Executive Summary
• Premium Insights
1. Porter's Five Forces Analysis
2. Value Chain Analysis
3. Top Investment Pockets
1. Market Attractiveness Analysis By Product Type
2. Market Attractiveness Analysis By Type
3. Market Attractiveness Analysis By Segment Type
4. Market Attractiveness Analysis By Region
4. Industry Trends
• Market Dynamics
1. Market Evaluation
2. Drivers
1. Increasing development in sector
3. Restraints
4. Opportunities
5. Challenges
• Global Phosphoric Acid Market Analysis and Projection, By Product Type
• Global Phosphoric Acid Market Analysis and Projection, By Type
• Global Phosphoric Acid Market Analysis and Projection, By Segment Type
• Global Phosphoric Acid Market Analysis and Projection, By Regional Analysis
1. Segment Overview
2. North America
1. U.S.
2. Canada
3. Mexico
3. Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
4. Asia-Pacific
1. Japan
2. China
3. India
5. South America
1. Brazil
6. Middle East and Africa
1. UAE
2. South Africa
• Global Phosphoric Acid Market-Competitive Landscape
1. Overview
2. Market Share of Key Players in the Global Phosphoric Acid Market
1. Global Company Market Share
2. North America Company Market Share
3. Europe Company Market Share
4. APAC Company Market Share
3. Competitive Situations and Trends
1. Coverage Launches and Developments
2. Partnerships, Collaborations, and Agreements
3. Mergers & Acquisitions
4. Expansions
• Company Profiles
1. Company1
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
2. Company2
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
3. Company3
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis

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About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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