Phosphoric Acid Market Size is Projected to Reach USD 47.06 Billion by 2029, Grow at a CAGR of 4.5% | Exactitude Consultancy

PRESS RELEASE
Published March 1, 2023

Exactitude Consultancy Market Research analyses that the Phosphoric Acid market will witness a CAGR of 4.5% for the forecast period of 2023-2029 and is likely to reach at USD 47.06 Billion by 2029 from USD 31.67 Billion in 2022.

The study considers the Global Phosphoric Acid Market present scenario and its market dynamics for the period 2023-2029. It includes a thorough assessment of a number of trends, constraints, and drivers of market growth. The report evaluates the market size of the Phosphoric Acid Market and studies the strategy patterns adopted by the prominent international players. The report also analyses the market’s size in terms of projected revenue for the future. All of the data numbers, such as percentage splits and breakdowns, are calculated from secondary sources and confirmed from original sources. The market’s supply and demand sides are also covered in the research. It provides profiles and analysis of market leaders and other prominent businesses.

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Drivers, Restraints, Opportunities and Challenges in Phosphoric Acid Market:

  • Drivers: Increasing demand for phosphate fertilizers
  • Restraints: Environmental concerns & increasing regulatory pressure
  • Opportunity: Recovery of rare earth elements from phosphoric acid
  • Challenges: Diminishing supply of phosphate

Key Findings of the Study:

  • Thermal Process is estimated to be the second-largest process type of phosphoric acid market in 2022
  • Feed & food additives is projected to be the fastest-growing application, in terms of value, during the forecast period.
  • North America accounted for the second-largest market share, in terms of value, in 2022.

Phosphoric Acid Market: Demand Analysis and Opportunity Outlook to 2023-2029

The Phosphoric Acid study defines the market size of various segments and countries by historical years and forecasts the value for the next 7 years. The report brings together qualitative and quantitative elements of the Phosphoric Acid industry, including: market share, market size (value and volume 2017-2021, and forecast to 2023-2029), in the highly competitive market for each country concerned Express appreciation. Furthermore, the study also caters and provides in-depth statistics on the key elements of Phosphoric Acid, which includes drivers and restraints that help in estimating the future growth prospects of the market.

The study pays attention to the loftiest revenue-generating and highest growing segments of the Phosphoric Acid market. This makes the research document accurately organized and systematic alongside encouraging a simpler understanding of each facet covered in this report. Major Key players profiled in the report include: The Mosaic Company, Nutrien Ltd., Israel Chemicals Ltd., OCP Group, Yara International, Euro chem Group AG, Prayon S.A., J.R. Simplot Company, Solvay, CECA ARKEMA GROUP and others.

Phosphoric Acid Market Recent Developments

  • In October 2021, Paradeep Phosphates Ltd. has raised capital by around INR 1,255 crore, such that to finance the planned expansion of its facility in Goa. The company’s production capacity will increase to a combined 2.22 million tons per annum for fertilizers like Di-ammonium Phosphate (DAP) and Nitrogen, Phosphorous, Potassium (NPK), and Phosphoric acid. Specifically, the company is intending to put a new Phosphoric Acid production plant, such that to enhance production by 120 kilotons per annum and also planning to install a new evaporator to raise the annual production of strong Phosphoric Acid by 116 kilotons.
  • In August 2021, EuroChem Group has signed an agreement to purchase the Serra do Salitre phosphates project based in Minas Gerais of Brazil from Norway’s Yara. The project is scheduled to bring on stream a 1 million tons per year phosphates plant, producing MAP/NP, as well as SSP and TSP, in 2023. The project is likely to reach its target output in 2024. The project will also include a phosphoric acid plant and others. Such expansion will enhance the company’s phosphoric acid business.

Phosphoric Acid Market Segmentation:

Global Phosphoric Acid Market by Product Type, 2023-2029, (USD Million) (Kilotons)

  • Furnace Process
  • Dry Kiln Process
  • Others

Global Phosphoric Acid Market By Application, 2023-2029, (USD Million) (Kilotons)

  • Fertilizers
  • Animal Feed
  • Food Additives
  • Water Treatment
  • Medical
  • Electronics

Global Phosphoric Acid Market by End User, 2023-2029, (USD Million) (Kilotons)

  • Chemical Industry
  • Food & Beverages
  • Pharmaceutical
  • Others

Read Detailed Index of Full Research Study @

https://exactitudeconsultancy.com/reports/4015/phosphoric-acid-market/?mode=P166

Geographically, the following regions were investigated:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
  • South America (Brazil, Argentina, Colombia, and Rest of South America)
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

Key market aspects are illuminated in the report:

Executive Summary: It covers a summary of the most vital studies, the Phosphoric Acid market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.

Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Phosphoric Acid market, the years measured, and the study points.

Company Profile: Each Firm well-defined in this segment is screened based on a product, value, SWOT analysis, their ability and other significant features.

Manufacture by region: This Phosphoric Acid report offers data on imports and exports, sales, production and key companies in all studied regional markets

What is the purpose of this report?

  • A thorough review of the Phosphoric Acid market, including regional markets.
  • Comprehensive coverage of all segments of the Phosphoric Acid market to assess trends, developments and market size forecasts till 2023-2029.
  • A thorough examination of deals involved in the Phosphoric Acid market including product portfolio, revenue, SWOT analysis and recent company advancements are examined in the company profile.
  • The growth matrix analyzes the product categories and geographic regions in which market companies should focus their efforts to invest, consolidate, expand and/or diversify.

There are 13 Sections to show the Phosphoric Acid market:      

Chapter 1: Phosphoric Acid Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

Chapter 2: Market Competition by Manufacturers

Chapter 3: Production by Regions

Chapter 4: Consumption by Regions

Chapter 5: Production, By Types, Revenue, and Market share by Types

Chapter 6: Consumption, By Applications, Market share (%), and Growth Rate by Applications

Chapter 7: Complete profiling and analysis of Manufacturers

Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses

Chapter 9: Industrial Chain, Sourcing Strategy, and Downstream Buyers

Chapter 10: Marketing Strategy Analysis, Distributors/Traders

Chapter 11: Market Effect Factors Analysis

Chapter 12: Phosphoric Acid Market Forecast

Chapter 13: Phosphoric Acid Market Research Findings and Conclusion, Appendix, methodology, and data source

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Key questions answered in the report include:

  • What is the growth potential of the Phosphoric Acid market?
  • Which regional markets will emerge as leaders in the next few years?
  • What are the key challenges facing the Phosphoric Acid market in the future?
  • Who are the most prominent players in the global Phosphoric Acid market?
  • What are the key trends positively impacting market growth?

About Us

Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

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