Global Phosphoric Acid Market to reach USD60.74 billion by 2027.
Global Phosphoric Acid Market is valued approximately USD 47.1 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.7 % over the forecast period 2021-2027. Phosphoric acid is the second-biggest consumed inorganic acid after sulfuric acid. It is modernly created in three evaluations with various focus levels according to its end use. The three evaluations incorporate food grade, horticulture grade, and mechanical evaluation. High usage of phosphoric acid for the production of phosphate fertilizers and rise in demand for flavoring agents in the food industry has led the adoption of Phosphoric Acid across the forecast period. For instance, as per the news section as far as volume, DAP led the market with a portion of more than 35% in 2019. This high offer is owing to expanding interest for DAP composts from the horticultural business around the world. China is the main producer on the planet followed by the U.S., Russia, Brazil, and Morocco. It involves high supplement esteem and has along these lines been a famous decision among the cultivating local area around the world. On a normal, DAP creation of 1 ton requires 0.4 huge loads of sulfur to break up 1.5 to 2 tons of phosphate rock, and around 0.2 huge loads of ammonia. In 2019, the U.S. production of phosphoric acid amounted to a total of 6.3 million metric tons. However, volatility in raw material prices impedes the growth of the market over the forecast period of 2021-2027. Also, increase in agricultural activities and the growing exports of fertilizers is likely to increase the market growth during the forecast period.

. The key regions are considered for The regional analysis of global Phosphoric Acid market regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World , Asia Pacific was the biggest market in 2019 and represented a worldwide portion of more than 48%. The area is assessed to hold its predominant situation all through the forecast period due to the high phosphate rock saves in China, which is likewise a significant maker of phosphoric acid. The nation additionally has a high creation of phosphate composts and yellow phosphorus. Factors such as dental cement, in making of albumin derivatives, and sugar & textile industries. would create lucrative growth prospects for the Phosphoric Acid market across Asia-Pacific region.

Major market player included in this report are:
The Mosaic Company
PJSC PhosAgro
Nutrien
IFFCO
EuroChem Group AG
Prayon Group
Israel Chemicals Ltd.
Yara International
OCP S.A.
Aditya Birla Group.


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application :
Diammonium Hydrogen phosphate (DAP)
Monoammonium Dihydrogen phosphate (MAP)
Triple Superphosphate (TSP)

By Process :
Furnace Process,
Dry Kiln Process,
Others.
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Phosphoric Acid Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors