Overview of the global phosphoric acid market

The demand for phosphate rocks is increasing on a global level due to the rising demand for food and the growing population. Consequently, the world food production will increase by around 70% to feed the increasing population. This in turn, will boost the production rate of industrial fertilizers such as phosphate fertilizers using feedstocks. Also, the manufacturing process of phosphate fertilizers includes the production of phosphoric acid or orthophosphoric acid using phosphate rocks. Technavio's market research report identifies that the high availability of phosphate rocks will be one of the primary growth drivers for the global phosphoric acid market till 2021. More than 70% of the phosphate rock reserves in the world are found in Morocco. Apart from this, phosphate rock reserves are also found in Iraq, Algeria, Jordan, and Syria. According to our market research analyst the global phosphoric acid market will grow at a CAGR of more than 2% by 2021 in terms of million tons.

One of the key trends that will gain traction in the global phosphoric acid market during the projected period is the introduction of organic phosphate fertilizers. The phosphoric acid fertilizer prevents the production of by-products as it does not require chemicals during the manufacturing process. They maintain the soil health by acting as soil conditioners. They also maintain the quality of the soil by retaining the organic content in the soil without deteriorating it.

Competitive landscape and key vendors

The phosphoric acid market is highly competitive due to the presence of many large and small vendors. A large number of integrated producers are located near large phosphate rock basins in North America, North Africa, China, and Russia. Also, approximately half of the global phosphate capacity is held by these players. The major players have significant advantages in terms of low cost of production and competitive pricing due to the availability of raw materials through integration. The growth opportunity for phosphoric acid manufacturers will increase due to the rising consumption of fertilizers around the world.

Key vendors in this market are -

• The Mosaic Company

• OCP

• PhosAgro

• PotashCorp

• Sinofert Holdings

Other prominent vendors in the market include Acron, Agrium, Arkema, CF Industries Holdings, EUROCHEM, GCT, Guizhou Kailin, IFFCO, ICL, Jordan Phosphates Mines Company, Maaden, URALCHEM, Vale, WengFu Group, and Yara.

Segmentation by application and analysis of the phosphoric acid market

• Food additives

• Fertilizers

• Animal feed

Phosphoric acid is extensively used as a raw material in the production of fertilizers. Most of the essential phosphate fertilizers use phosphoric acid. It is used in the production of various phosphates and nitrogen, phosphorus, and potassium (NPK) fertilizers because plants need essential nutrients such as nitrogen, phosphorus, and potassium. Some of the forms of the agriculture grade phosphoric acid include super phosphoric acid, ordinary superphosphate, and concentrated superphosphate. The adoption of phosphoric acid in the fertilizers segment will continue to increase during the estimated period due to the rising demand for feedstock.

Segmentation by geography and analysis of the phosphoric acid market

• APAC

• Europe

• North America

• ROW

In terms of geography, APAC extensively uses phosphoric acid in the production of animal feeds. The demand for phosphoric acid in the food additives segment in the two major economies, India and China, will increase in the forthcoming years due to the rising disposable income and the change in food consumption pattern of consumers.

Key questions answered in the report include

• What will the market size , market forecast and the growth rate be in 2021?

• What are the key factors driving the global phosphoric acid market?

• What are the key market trends impacting the growth of the global phosphoric acid market?

• What are the challenges to market growth?

• Who are the key vendors in the global phosphoric acid market?

• What are the market opportunities and threats faced by the vendors in the global phosphoric acid market?

• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?

• What are the key outcomes of the five forces analysis of the global phosphoric acid market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming research report on the global phosphoric acid market insights into the significant trends and drivers stimulating the growth of the chemicals and materials industry. Our reports for the chemicals and materials industry also follow a scrupulous data collection methodology and presents an analysis of the dynamically changing market sector like specialty chemicals.

Also, to gain higher accuracy, our market research experts follow an extensive data collection approach and implement uniquely formulated analytic tools. The primary advantage gained from the adoption of this approach is better statistical models and vendor analysis. By considering, the surging demand for multiple segments of the specialty chemicals sector, the market research professionals at Technavio present an all-inclusive picture of the phosphoric acid market from 2017 to 2021. 

This forthcoming market research report on the phosphoric acid market also covers vendors like Eurochem, Acron OAO, and CF industries holdings inc. Furthermore, to presents clients the scope to identify potential market opportunities and expand in niche markets, this report on the phosphoric acid market also covers geographies like APAC, EMEA, North America, and ROW.

The upcoming industry research report for the phosphoric acid market also categorizes the prominent drivers, major trends, along with the restraints that the specialty chemicals sector currently experiences. This upcoming report on the phosphoric acid market presents insights into the rapidly changing vendor landscape to give clients a complete overview of the forthcoming events within the chemicals and materials industry. Technavio also presents in-depth market assessments into the sectors such as paints, coatings, and pigments and olefins. 

Our market research methodology for the global phosphoric acid market

Technavio also offers clients the opportunity to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.