Phosphoric Acid Market

Phosphoric Acid Market worth $56.8 billion by 2027

The report "Phosphoric Acid Market by Process Type (Wet, Thermal), Application (Fertilizers, Feed & Food Additives, Detergents, Water Treatment Chemicals, Metal Treatment, Industrial Use) and Region ( North America, Europe, APAC, RoW) - Global Forecast to 2027", will grow to  USD 56.8 billion by 2027, at a CAGR of 4.1% from USD 46.4 billion in 2022

Browse 244 market data Tables and 63 Figures spread through 235 Pages and in-depth TOC on "Phosphoric Acid Market by Process Type (Wet, Thermal), Application (Fertilizers, Feed & Food Additives, Detergents, Water Treatment Chemicals, Metal Treatment, Industrial Use) and Region ( North America, Europe, APAC, RoW) - Global Forecast to 2027"
View detailed Table of Content here -

Phosphoric acid is an inorganic type of acid that is derived from one or more than one inorganic compounds. The key raw materials for phosphoric acid production are rock phosphate, sulfuric acid, and elemental phosphorous. Phosphoric acid is manufactured from majorly two processes, the wet process and the thermal process. The wet process is the most commonly used for phosphoric acid production. The thermal process is used to produce high purity phosphoric acid.

This growth is primarily triggered by the growing demand of phosphoric acid in fuel cells and deman from food industry. Phosphoric acid is used in the food & beverage industry as an acidity regulator, flavoring agent, and additive in animal and human feed. In the food industry, it is often referred to as additive E338.

Thermal Process is estimated to be the second-largest process type of phosphoric acid market in 2021

The thermal process uses elemental phosphorous and air as raw materials for phosphoric acid production. There are two steps involved in the thermal process: combustion and hydration. In this process, phosphorous is sprayed into the furnace and burnt in the air at about 1,800-3,000 Kelvin. In the next step, these products are hydrated to obtain phosphoric acid. Thermal phosphoric acid is much higher in purity (around 85%) and used in high-end applications, including food, pharmaceuticals, detergent, and other non-fertilizer applications.

Feed & food additives is projected to be the fastest-growing application, in terms of value, during the forecast period.

Phosphoric acid is used as an acidity regulator and a flavoring agent in the food & beverage industry. It is also used as an additive in both animal and human feed. Phosphoric acid in the food industry is often referred to as additive E338. The demand for phosphoric acid in the food industry depends on the growth of the dairy and processed food segment. Processed food is currently experiencing an upward growth trend driven by emerging economies such as India, China, and Brazil.

North America accounted for the second-largest market share, in terms of value, in 2021.

North America is the second-largest market for phosphoric acid. The increasing consumption of fertilizers primarily drives the demand for phosphoric acid in this region. Food & beverage, metal finishing, water treatment, and other industries are important in increasing the need for phosphoric acid in the region. Phosphoric acid has high demand in developed countries such as the US and Canada owing to increasing packaged food consumption. With the increased feed production, the feed additives market is also expected to grow in the region. The United States Department of Agriculture (USDA) adopts biotechnological methods such as chemical and biological treatment of animal feed to improve nutritional value and focuses on the discovery of more efficient feed additives such as feed phosphates, genetic manipulation of the embryo, and the use of rumen microbes.

The key market players profiled in the report include ICL Group Ltd. (Israel), OCP Group S.A. (Morocco), The Mosaic Company (US), Nutrien Ltd. (Canada), Eurochem Group AG (Switzerland), Phosagro Group of Companies (Russia), and IFFCO (India) among others.

Don’t miss out on business opportunities in Phosphoric Acid Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Phosphoric Acid Market Size,  Share & Growth Report
Report Code
CH 8160
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Phosphoric Acid Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets