Global Phosphoric Acid Market Report, 2021

The global phosphoric acid market to grow at a CAGR of 2.21% during the period 2017-2021.

Global Phosphoric Acid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

According to the report, one of the major drivers for this market is Subsidies for sale of fertilizers in developing economies. In most of the countries in sub-Saharan Africa and Southeast Asia, the market prices of fertilizers are strictly regulated by import duties and subsidies. Agrarian economies, for instance, India and Bangladesh are deficient in potash reserves and phosphate rocks. Therefore, these countries import fertilizers and feedstocks. This results in huge price disruptions in the market and affects the purchase of fertilizers by farmers.

The latest trend gaining momentum in the market is Increased foreign investments and joint ventures. Key players attract foreign investments and enter joint ventures to remain competitive. The key vendors are mostly vertically integrated and find the sources for the raw materials. JVs help vendors procure raw materials. Many countries are scaling up their investments in phosphate mining and phosphate-based fertilizer manufacturing plants. Governments of various nations and vendors across regions collaborate and set up plants for manufacturing fertilizers or obtaining phosphate rock supplies for the production of phosphoric acid which is the intermediate product between phosphate rocks and phosphate fertilizers.

Further, the report states that one of the major factors hindering the growth of this market is Increased adoption of genetically modified (GM) seeds. GM seeds are modified at the DNA level using genetic engineering. GM crops produce high yield and are pest resistant. These super variant crops have reduced the consumption of pesticides and fertilizers. Currently, around 440 million acres of land are cultivated using GM seeds, and the agricultural lands that use GM seeds are increasing by 4% (YoY). Generally, the cultivated crops using GM seeds include soybean, cotton, canola, and maize. With the rising trend in the use of GM seeds for agriculture, the demand for fertilizers would decrease by 15% in 2020.

Key vendors

Other prominent vendors

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Application

Part 07: Geographical Segmentation

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

Part 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/qx6gg4/global_phosphoric

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