+1-888-308-5802     
News Contact Us

Phosphoric Acid Market Global Industry Analysis and Forecast Till 2024

Author : Ronak Bora | Published Date : 2019-05-08 

The study on the global Phosphoric Acid Market evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market significantly. The expansion in the various related industry is also expected to reflect positively on the sales of the product over the next few years.

Fertilizer industry deemed to be a profitable quotient for phosphoric acid market owing to the application in production of various phosphate fertilizer such as diammonium hydrogenphosphate (DAP), triple superphosphate (TSP), monoammonium dihydrogenphosphate (MAP) and others. To account for the rapid increase in world population, farmers are trying to enhance the crop yield per unit area. This will increase the use of fertilizer which will escalate the growth of phosphoric acid market. Subsidies on fertilizers and shortage of cultivated land in developed & developing economies will propel the market growth.

Request for a Table of Content of this research report @ https://www.gminsights.com/request-toc/upcoming/2290

Phosphoric Acid Market Size is likely to witness upward trend in demand from 2016 to 2024 due to escalated growth in fertilizer sector. The product is an inorganic acid, derived from phosphate rocks. It is colorless, odorless, nontoxic, non-volatile, crystalline liquid. It is accounted for the largest share in terms of production and consumption among all acids, followed by sulfuric acid.

Food & beverage industry will also contribute to momentous growth of product industry owing to the use of product in colas, jams, cheese, etc. to provide tangy or sour taste. The primary hindrance in the growth path of product market is the emission of various effluent such as fluorine dust etc. during its production causing air and water pollution. The other reason that will encumber the market growth is increasing use of genetically modified seeds which will hamper the use of fertilizers in coming years.

Based on the process type, the phosphoric acid market is categorized into wet process, thermal process and other which include dry kiln process, furnace process etc. Wet process produces impure phosphoric acid with concentration ca 56% which is used in fertilizer manufacturing. Alternatively, it can be further evaporated to ca 70% to obtain pure phosphoric acid which is directly used as a liquid fertilizer. The product manufactured by thermal process has concentration of ca 85% which is highly corrosive in nature.

Based on the grades, the market is bifurcated as food grade and technical grade. The food grade of phosphoric acid is used as food additive in vegetable processing oil, flavoring and acidifying agent in colas & beverages, sugar production, dentistry, while technical grade of phosphoric acid is used in semiconductor, home cleaning agents, fertilizers, etc.

Request for a Customization of this research report @ https://www.gminsights.com/roc/2290

On application basis, the Phosphoric Acid Market is diversified into phosphate, other fertilizer chemicals (water-soluble fertilizer etc.), industrial application (rust inhibitor, electrolyte in phosphoric acid fuel cell, dispersing agent, flux, etc.) home cleaning agents (soap & detergent).and others. Phosphate chemical include diammonium hydrogenphosphate (DAP), triple superphosphate (TSP), monoammonium dihydrogenphosphate (MAP) and others. DAP accounted for maximum consumption of phosphoric acid followed by MAP and TSP. Phosphoric acid acts as softener, complexing & dispersing agent in soap and detergent. It is also used in metal treatment which reduce corrosion and provide insulation and adherences to the metal surface.

On end-user basis, the market is categorized as fertilizer, medical, food & beverage, electronics, and others such as water treatment, fire control chemical, etc. Among all, the global product market is likely to lead by fertilizer industry owing to shortage of cultivated land with rapid urbanization. The use of phosphoric acid as a flavoring agent, and acidity regulator in food & beverage industry will also stimulate the market in coming years. It plays a vital role in water treatment by reducing pipework corrosion, deposition of lime scale and by controlling pH of water and red & black liquors.

Asia-Pacific is depicted to have maximum growth and will hold a substantial share of the phosphoric acid market in production as well in consumption. The expanse of arable land in agrarian economies will escalate the demand of the fertilizers which will in turn surge the growth of product industry. China, and India is expected to lead the production of phosphoric acid in upcoming years due to increasing population.

Browse Full Report @ https://www.gminsights.com/industry-analysis/phosphoric-acid-market

The key participants in the market are JDC Phosphate, Potash Corp., Hindalco (Aditya Birla Group), Spectrum Chemical MFG Corp., J.R Simplot Company, Prayon, Solvay, Eurochem Group, Innophos Holding Inc., OCP S.A, Agrium Inc., Brenntag North America, CECA (Arkema group), Wengfu Group, Indian Farmer Fertilizer Cooperation Limited (IFFCO), Solaris Chemtech, etc.

 

Browse Related Report

Cosmetic Ingredients Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Russia, China, Japan, India, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024

https://www.marketwatch.com/press-release/global-cosmetic-ingredients-market-research-report-2017-overview-demand-and-forecast-2024-2018-10-10

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde 
Corporate Sales, USA 
Global Market Insights, Inc. 
Phone: 1-302-846-7766 
Toll Free: 1-888-689-0688 
Email: [email protected] 
Web: https://www.gminsights.com 
Blog: http://headlinenewsnation.com

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Europe Automotive Turbochargers Market to witness highest growth rate during forecast period

Published Date: 2019-05-24         Author: Ronak Bora

Europe automotive turbochargers market will grow considerably over the study timeframe. This can be credited to the presence of major automobile companies adopting turbocharging technologies across their product portfolio. Automotive turbochargers market for PCVs accounted for a revenue share of ... Read More

Asia Pacific Automotive Relay Market Size to grow at over 4.5% CAGR To 2024

Published Date: 2019-05-24         Author: Ronak Bora

High demand of automotive PCB relays in Asia Pacific and Europe has induced an immense potential to the automotive relay market size. Stringent government regulations in Europe regarding incorporation of safety features into vehicles, replacement of obsolete technologies, and fuel efficiency standar... Read More

Asia Pacific Power Sports Market to grow at over 4.5% CAGR To 2025

Published Date: 2019-05-24         Author: Ronak Bora

Asia Pacific power sports market share will showcase significant growth over the forecast timeframe. The growth can be credited to the increasing awareness about off-roading events among youth coupled with rising disposable income across the region. The proliferating presence of industry players to ... Read More

© 2019 Fractovia. All Rights Reserved