Global Phosphoric Acid market is anticipated to reach USD 65.59 billion by 2030, at a CAGR of 3.9% from 2021 to 2030. The market is likely to be driven by the high use of phosphoric acid in the production of phosphate fertilizers like Mono-Ammonium Phosphate and Diammonium Phosphate during the forecast period.
Phosphoric acid is a weak acid having the chemical formula H 3PO 4. It is also known as orthophosphoric acid or phosphoric(V) acid. The chemical in its purest form is a colourless solid. It is a non-toxic acid that is solid at room temperature and pressure in its pure form. It's generally used to make fertilizers, but it's also used in cleaning products, food additives, and water treatment. Phosphoric acid is used to make fertilizers such as Diammonium Phosphate, Monoammonium Phosphate. Phosphoric acid is a multi-purpose chemical that is used for plant feeding, pH adjustment, and cleaning irrigation equipment from lime precipitation. It is a fundamental component in many fertilizers. The production of phosphate compounds is the most common application for phosphoric acid. The wet process and the thermal process are two commercially available ways for producing phosphoric acid. In fertilizer manufacturing, wet process phosphoric acid is used. The process involving thermal phosphoric acid is purer and is used to make high-grade chemicals, pharmaceuticals, detergents, food, beverages, and other non-fertilizer items. Some popular uses of phosphoric acid include removal of rust, personal care, in food and beverage, used in agriculture, pharma and other uses.
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The need for phosphoric acid is primarily driven by the rising demand for phosphate fertiliser production, which is strongly linked to the world's growing population. According to the United Nations Department of Economic and Social Affairs, the global population will grow by two billion people by 2050, reaching 9.7 billion. As the world's population grows, so does the demand for food, which is met by fertilizer-fed crops. Fertilizer use is substantially higher in developing countries and regions than in developed countries. Phosphorus is an important nutrient for plants. Plant roots absorb it as a dihydrogen phosphate ion (H2PO4-), which is produced from phosphoric acid (H3PO4). Phosphorus deficiencies in the soil are compensated using fertilizers. As a result, as demand for phosphate fertilizers rises, demand for phosphoric acid rises as well.
Government restrictions govern phosphoric acid supply at the provincial, state, and national levels in many jurisdictions. Due to different environmental concerns, lawmakers are implementing new rules on fertilizers, certificates for plants and goods, and tailings management. More fertilizer firms are pursuing registration in high-standard certification schemes. The fertilizer business is expected to be impacted more in the future by China's Regulatory Phosphogypsum Control and the EU's Green Deal standards, as well as the global introduction of emissions trading and carbon schemes.
Per capita farmland is declining as the world's population gathers in cities. However, each acre of farmland is projected to produce more food. South Asia consumes 94% of the world's arable land. In Sub-Saharan Africa, only 22% of theoretically arable land is cultivated. As a result of the decreasing amount of arable land available, farmers are being forced to increase their productivity to meet rising food demand. More yields can only be achieved if the soil is more fertile, which would increase the demand for phosphate fertilisers. It is expected to boost demand for this acid.
The market's expansion is being hampered by health risks produced by phosphoric acid, as well as unfavorable conditions created by the COVID-19 outbreak.
The global phosphoric acid market has been segmented based on application and regions.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the phosphoric acid market with a 42%share of the market revenue in 2020.
Asia Pacific Phosphoric Acid Market Share in 2020 - 42%
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The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global phosphoric acid industry.
In July 2018 Innophos Holdings, Inc. announced that it has signed a three-year supply agreement with Nutrien for Purified Phosphoric Acid. With the merging of Agrium and PotashCorp in January 2018, this global agricultural leader was established.
As per The Brainy Insights, the size of the phosphoric acid market was valued at USD 44.74 billion in 2020 to USD 65.59 billion by 2030.
Global Phosphoric Acid market is growing at a CAGR of 3.9% during the forecast period 2021-2030.
The global phosphoric acid market has been segmented based on application, and regions. The diammonium phosphate (DAP) segment led the market in 2020.
Asia Pacific region emerged as the largest market for the phosphoric acid.
The market's growth will be influenced by rising demand to produce phosphate fertilizers.
Environmental concerns could hamper the market growth.
Decreasing per capita arable land will provide huge opportunities to the market.
Key players are Nutrien, The Mosaic Company, EuroChem Group AG, PJSC PhosAgro, Yara International, IFFCO, Prayon Group, Israel Chemical Ltd., OCP S.A. and Aditya Birla Group.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis ByApplication
4.3.2. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Rising demand to produce phosphate fertilizers
5.3. Restraints
5.3.1. Environmental concerns
5.4. Opportunities
5.4.1. Decreasing per capita arable land
5.5. Challenges
5.5.1. COVID-19 impact
6. Global Phosphoric Acid Market Analysis and Forecast, By Application
6.1. Segment Overview
6.2. Diammonium phosphate (DAP)
6.3. Triple Superphosphate (TSP)
6.4. Monoammonium phosphate (MAP)
6.5. Other fertilizers
6.6. Other application
7. Global Phosphoric Acid Market Analysis and Forecast, By Regional Analysis
7.1. Segment Overview
7.2. North America
7.2.1. U.S.
7.2.2. Canada
7.2.3. Mexico
7.3. Europe
7.3.1. Germany
7.3.2. France
7.3.3. U.K.
7.3.4. Italy
7.3.5. Spain
7.4. Asia-Pacific
7.4.1. Japan
7.4.2. China
7.4.3. India
7.5. South America
7.5.1. Brazil
7.6. Middle East and Africa
7.6.1. UAE
7.6.2. South Africa
8. Global Phosphoric Acid Market-Competitive Landscape
8.1. Overview
8.2. Market Share of Key Players in GlobalPhosphoric Acid Market
8.2.1. Global Company Market Share
8.2.2. North America Company Market Share
8.2.3. Europe Company Market Share
8.2.4. APAC Company Market Share
8.3. Competitive Situations and Trends
8.3.1. Product Launches and Developments
8.3.2. Partnerships, Collaborations, and Agreements
8.3.3. Mergers & Acquisitions
8.3.4. Expansions
9. Company Profiles
9.1. Nutrien
9.1.1. Business Overview
9.1.2. Company Snapshot
9.1.3. Company Market Share Analysis
9.1.4. Company Product Portfolio
9.1.5. Recent Developments
9.1.6. SWOT Analysis
9.2. The Mosaic Company
9.2.1. Business Overview
9.2.2. Company Snapshot
9.2.3. Company Market Share Analysis
9.2.4. Company Product Portfolio
9.2.5. Recent Developments
9.2.6. SWOT Analysis
9.3. EuroChem Group AG
9.3.1. Business Overview
9.3.2. Company Snapshot
9.3.3. Company Market Share Analysis
9.3.4. Company Product Portfolio
9.3.5. Recent Developments
9.3.6. SWOT Analysis
9.4. PJSC PhosAgro
9.4.1. Business Overview
9.4.2. Company Snapshot
9.4.3. Company Market Share Analysis
9.4.4. Company Product Portfolio
9.4.5. Recent Developments
9.4.6. SWOT Analysis
9.5. Yara International
9.5.1. Business Overview
9.5.2. Company Snapshot
9.5.3. Company Market Share Analysis
9.5.4. Company Product Portfolio
9.5.5. Recent Developments
9.5.6. SWOT Analysis
9.6. IFFCO
9.6.1. Business Overview
9.6.2. Company Snapshot
9.6.3. Company Market Share Analysis
9.6.4. Company Product Portfolio
9.6.5. Recent Developments
9.6.6. SWOT Analysis
9.7. Prayon Group
9.7.1. Business Overview
9.7.2. Company Snapshot
9.7.3. Company Market Share Analysis
9.7.4. Company Product Portfolio
9.7.5. Recent Developments
9.7.6. SWOT Analysis
9.8. Israel Chemical Ltd.
9.8.1. Business Overview
9.8.2. Company Snapshot
9.8.3. Company Market Share Analysis
9.8.4. Company Product Portfolio
9.8.5. Recent Developments
9.8.6. SWOT Analysis
9.9. OCP S.A.
9.9.1. Business Overview
9.9.2. Company Snapshot
9.9.3. Company Market Share Analysis
9.9.4. Company Product Portfolio
9.9.5. Recent Developments
9.9.6. SWOT Analysis
9.10. Aditya Birla Group
9.10.1. Business Overview
9.10.2. Company Snapshot
9.10.3. Company Market Share Analysis
9.10.4. Company Product Portfolio
9.10.5. Recent Developments
9.10.6. SWOT Analysis
List of Table
1. Global Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
2. Global Diammonium phosphate (DAP)Phosphoric Acid Market, By Region, 2018–2030 (USD Billion)
3. Global Triple Superphosphate (TSP)Phosphoric Acid Market, By Region, 2018–2030 (USD Billion)
4. Global Monoammonium Phosphate (MAP) Phosphoric Acid Market, By Region, 2018–2030 (USD Billion)
5. North America Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
6. U.S. Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
7. Canada Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
8. Mexico Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
9. Europe Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
10. Germany Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
11. France Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
12. U.K. Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
13. Italy Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
14. Spain Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
15. Asia Pacific Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
16. Japan Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
17. China Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
18. India Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
19. South America Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
20. Brazil Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
21. Middle East and Africa Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
22. UAE Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
23. South Africa Phosphoric Acid Market, By Application, 2018–2030 (USD Billion)
List of Figures
1. Global Phosphoric Acid MarketSegmentation
2. Phosphoric Acid Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Phosphoric Acid Market Attractiveness Analysis ByApplication
9. Global Phosphoric Acid Market Attractiveness Analysis By Region
10. Global Phosphoric Acid Market: Dynamics
11. Global Phosphoric Acid Market Share ByApplication (2021&2030)
12. Global Phosphoric Acid Market Share by Regions (2021&2030)
13. Global Phosphoric Acid Market Share by Company (2020)
This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global phosphoric acidmarket based on below mentioned segments:
Global Phosphoric Acid Market byApplication:
Global Phosphoric Acid Market by Region:
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