Scienza e Tecnologia
Phosphoric Acid Market worth $142.14 billion in 2030 - Exclusive Report by MarketsandMarkets™
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 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 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 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 ).
MarketsandMarkets™ has been recognized as one of , as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo - https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/phosphoric-acid-market-worth-142-14-billion-in-2030---exclusive-report-by-marketsandmarkets-302547875.html