Market Overview

The Global Phosphoric Acid Market was valued at USD 43,001.4 million in 2023 and is expected to reach USD 59,761.8 million by 2031 while growing at a CAGR of 4.2% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global phosphoric acid market growth. Phosphoric acid, chemically represented by H₃PO₄, finds common use in diverse industrial applications. In its pure form, it exists as a colorless, odorless liquid or transparent crystalline solid. As a triprotic acid, it can donate three protons (hydrogen ions) per molecule in aqueous solution.

Increasing water treatment applications in the detergent and cleaning industry, along with the growth in the agricultural sector, drive the phosphoric acid market. The sustained expansion is contingent on managing fluctuating raw material prices and addressing environmental concerns.

Furthermore, the global phosphoric acid industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Application Analysis

The Global Phosphoric Acid Market is segmented among Diamonium Hydrogenphosphate (DAP), Monoammonium Dihydrogenphosphate (MAP), Triple Superphosphate (TSP), and Other Fertilizers, based on Application. In 2023, Diamonium Hydrogenphosphate (DAP) accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Phosphoric Acid Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while Latin America is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are The Mosaic Company, PJSC PhosAgro, Nutrien, IFFCO, EuroChem Group AG, Prayon Group, Israel Chemical Ltd., Yara International, OCP S.A., and Aditya Birla Group

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Phosphoric Acid Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Phosphoric Acid Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Phosphoric Acid Market Segmentation, By Application

• Global Phosphoric Acid Market Share Analysis, By Application

• Global Phosphoric Acid Market Growth Analysis, By Application

• Global Phosphoric Acid Market Trends, By Application

o Diamonium Hydrogenphosphate (DAP)

o  Monoammonium Dihydrogenphosphate (MAP)

o Triple Superphosphate (TSP)

o Other Fertilizers

o Other Applications

6. Global Phosphoric Acid Market Segmentation, By Region

• Global Phosphoric Acid Market Share Analysis, By Region

• Global Phosphoric Acid Market Growth Analysis, By Region

• Global Phosphoric Acid Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

7. Competitive Landscape

• The Mosaic Company*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• PJSC PhosAgro

• Nutrien, IFFCO

• EuroChem Group AG

• Prayon Group

• Israel Chemical Ltd.

• Yara International

• OCP S.A.

• Aditya Birla Group Merck

*Similar analysis will be provided for each company listed above.