is an inorganic acid which is used in the production of phosphate chemicals that typically used in water treatment, detergent builders and fire control chemicals among others. It is the largest produced and consumed acid in terms of value and second-largest in terms of volume after sulfuric acid. Phosphoric acid is used in the production of phosphate chemicals that typically find use in water treatment, detergent builders and fire control chemicals among others. Globally, rise in demand from downstream industry mainly fertilizers and phosphoric acid, increasing detergent & cleansing agents industry, increasing government initiative for using fertilizers to increase agricultural production across the globe, growing demand from industrial; section, owing to rapid industrialization are the prime growth drivers of global phosphoric acid market. In addition, increase in adoption of phosphoric acid for application in newer industry vertical, and emerging economies such as China, India and others, will create new opportunities for global phosphoric acid market. However, higher cost of sourcing and processing, hazardous health effects, stringent government regulations, and increasing popularity and usage of bio-based fertilizer are the key restraints for global phosphoric acid market.
Geographically Asia Pacific dominated global phosphoric acid market
and is projected to have fastest growth, owing to rapidly increasing demand for fertilizers and detergent industry in developing nations such as China, and India in this region. Among all the applications, fertilizer segment has the highest market share in global phosphoric acid market due to higher usage in agricultural countries. In the fertilizer industry, phosphoric acid and its phosphate derivatives are used for the production of water soluble and liquid fertilizers.
This report identifies the global phosphoric acid market size in for the year 2014-2016, and forecast of the same for year 2021. It also highlights the market drivers, restraints, growth indicators, challenges, and other key aspects with respect to global phosphoric acid market.
This report segments global phosphoric acid market on the basis of application and regional market as follows:
- The report has focused study on phosphoric acid market by basis of application such as: Fertilizers, Feed and Food Additives, Industrial, Detergents, Water Treatment, Metal Treatment, and Others
- This report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) covering all the major country level markets in each of the region
This report identifies all the major companies operating in the phosphoric acid market. Some of the major companies’ profiles in detail are as follows:
- Yara International ASA and Yuntianhua Group Co. Ltd.
- Saudi Arabian Mining Company
- Potash Corp Of Saskatchewan Inc.
- Jordan Phosphate Mines Company
- Chemische Fabrik Budenheim KG