Phosphoric Acid Market

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 - Global Forecast to 2030", size was USD 112.03 billion in 2024 and is projected to reach USD 142.14 billion in 2030, at a CAGR of 4.06%, between 2025 and 2030.

Browse 278 market data Tables and 55 Figures spread through 233 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 - Global Forecast to 2030"
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Phosphoric acid is in high demand because of its strategic value in the fertilizer sector, where it is a vital feedstock for phosphate-based fertilizers that underpin global food yields and farm efficiency. Its multi-industrial applications also make it an important input into higher-value industries like food and drink processing, pharmaceuticals, water treatment, and industrial production. With increasing population demands, the requirement for increased crop yields and industrial applications, demand still exceeds supply, putting phosphoric acid on the high-value commodity list in agricultural and industrial supply chains.

The wet process type is projected to be the fastest-growing segment of the global phosphoric acid market in terms of value during the forecast period.

The wet process segment is expected to achieve the highest CAGR in the global phosphoric acid market, in terms of value, during the forecast period due to its cost-effectiveness, scalability, and superiority in producing fertilizer-grade acid. This process, which involves reacting phosphate rock with dilute sulfuric acid, accounts for most of the world's phosphoric acid production, mainly for making diammonium phosphate (DAP) and monoammonium phosphate (MAP) fertilizers. The wet process is increasingly used over the more expensive thermal process in emerging economies, which have growing demand for agricultural products and require efficient, large-scale production. Its ability to supply high-volume, price-sensitive markets makes it a key driver in the industry's growth.

Feed & food additives were the second-largest application segment of the global phosphoric acid market, in terms of value, in 2024.

Feed & food additives accounted for the second-largest application of the global phosphoric acid market in terms of value in 2024, and this can be attributed to the increasing demand for processed food, beverages, and animal feed that contain nutrients. Phosphoric acid is relevant as an acidulant, flavorant, and preservative in the food industry, in animal nutrition, and as a source of calcium phosphates to help support animal health and productivity. The growth in this segment is supported by the increasing global meat consumption market, dietary variations linked to the urbanization phenomenon, and the increased standards of food safety. The growth of the consumer market and the inevitable utilitarian presence of phosphoric acid in the marketplace guarantee the continued effectiveness of this application in terms of continued sustainability as a substantial source of revenues to producers.

North America was the third-largest region in the global phosphoric acid market in terms of value in 2024.

North America was the third-largest regional market of phosphoric acid by value in 2024 due to the established fertilizer industry in the region, strong demand for acidulants in the beverage and food sector, as well as lowly fluctuating consumption in industrial uses like water treatment and metal finishing. The region has high production infrastructure, robust distribution systems, and vertically integrated producers of phosphate products, especially in the US and Canada. Nevertheless, the market expansion is cushioned against maturity, strict environmental laws, and the threat of cheaper producers in the emerging markets that put North America in a relatively stable, but somewhat stable, growth trend in the global phosphoric acid market.

The key players profiled in the report include OCP Group (Morocco), The Mosaic Company (US), PJSC PhosAgro (Russia), ICL Group Ltd (Israel), Nutrien Ltd. (Canada), EuroChem Group AG (Switzerland), Innophos (US), Solvay SA (Belgium), Ma’aden (Saudi Arabia), and IFFCO (India).

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