Skip to main content

Phosphoric Acid Market Size to Reach USD 44,873.5 Million by 2028; Decreasing Per Capita Farmland Worldwide to Boost Growth, says Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, India, Feb. 26, 2021 (GLOBE NEWSWIRE) — The global phosphoric acid market is set to gain traction from the decreasing per capita farmland. The population is surging rapidly worldwide. The FAO declared that in South Asia, around 94% of potentially arable land is used. But, in sub-Saharan Africa, only 22% of the land is under cultivation. This information is given by Fortune Business Insights™ in a new report, titled, “Phosphoric Acid Market Size, Share & COVID-19 Impact Analysis, By Application (Fertilizers {Diammonium Phosphate (DAP), Monoammonium Phosphate (MAP), Trisodium Phosphate (TSP), Others}, Animal Feed, Food Additives, and Others), and Regional Forecast, 2021-2028.” The report further states that the market size was USD 31,367.7 million in 2020 and is projected to reach USD 44,873.5 million by 2028, exhibiting a CAGR of 4.7% during the forecast period.
Effect of COVID-19 Pandemic on Fertilizers Market to Obstruct GrowthThe outbreak of the COVID-19 pandemic has resulted in a wide range of economic consequences, such as the shutdown of workplaces, halt of manufacturing processes, and the collapse of trading practices. Governments of several countries are taking multiple initiatives to help agriculturists and food production chains. It is hampering the fertilizers market. We are providing detailed research reports to help you better understand the current scenario of the phosphoric acid industry.
Get Sample PDF Brochure with Impact of COVID19:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/phosphoric-acid-market-104571
How Did We Conduct Our Research?The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.
Key Drivers & Restraints-Increasing Usage of DAP in Farming of Fruits & Vegetables to Aid GrowthPhosphoric acid is mainly used for the manufacturing of various types of phosphate fertilizers. Diammonium phosphate (DAP) is considered to be the most commonly used phosphatic fertilizers as they possess excellent physical properties and relatively high nutrient content. It is also an important source of nitrogen and phosphorus for plant feeding applications. At the same time, it is extensively utilized for the farming of grains, such as vegetables, fruits, barley, and wheat. However, the rising implementation of stringent norms on the usage of fertilizers may hinder the phosphoric acid market growth in the near future.
Segment-Fertilizers Segment to Dominate in the Near FutureBased on the application, the fertilizers segment is set to retain its leading position throughout the forthcoming years by procuring the largest phosphoric acid market share. The International Fertilizer Association (IFA), for instance, mentioned that by 2024, the demand for fertilizers is expected to surge by an average rate of 0.7 percent. It will reach approximately 197.1 Mt of nutrients.
List of the Leading Companies Profiled in the Global Market are:Nutrien (Saskatoon, Canada)The Mosaic Company (Tampa, Florida, United States)OCP (Casablanca, Morocco)Ma’aden (Riyadh, Saudi Arabia)EuroChem Group AG (Zug, Switzerland)Solvay S.A. (Brussels, Belgium) Arkema (Colombes, France)Other Key Players
Inquire Before Buying This Research Report:https://www.fortunebusinessinsights.com/enquiry/queries/phosphoric-acid-market-104571
Regional Insights-Rising Agricultural Activities to Help Asia Pacific Lead in Upcoming YearsGeographically, Asia Pacific is anticipated to remain at the forefront in the upcoming years. It generated USD 16,801.5 million in 2020 in terms of revenue. This growth is attributable to the rising consumer spending, agricultural activities, expansion of the chemical industry, and government initiatives. In emerging nations, such as China, the demand for this acid would increase because of the presence of numerous end-use industries.On the other hand, in 2020, Europe and North America together held more than 20% of the global market. The surging usage of phosphoric acid as animal feed and food additives in both regions would accelerate growth.
Competitive Landscape-Key Players Focus on Mergers and Acquisitions to Compete with Their RivalsThe global market contains several renowned companies that are presently adopting the strategy of merger and acquisition to gain a competitive edge. A few others are signing new agreements to supply their in-house products to local and international firms.
Below are the two latest industry developments:July 2018: Innophos Holdings, Inc. entered into a purified phosphoric acid (PPA) supply agreement with Nutrien. It is a three-year-old agreement that will enable the latter to provide PPA to help Innophos serve its customers with unique products.August 2016: Prayon Technologies will offer the technical know-how and license for two latest phosphoric acid plants that were constructed in Egypt. They are located in the NCIC Ain Sokhna Fertilizer Complex.
Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/phosphoric-acid-market-104571
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesEmerging TrendsKey InsightsKey Emerging Trends – For Major CountriesIndustry SWOT AnalysisRegulatory AnalysisRecent Industry Developments – Policies, Partnerships, New  Launches, and Mergers & AcquisitionsQualitative Insights – Impact of COVID-19 on Global Phosphoric Acid MarketSupply Chain ChallengesSteps taken by Government/Companies to overcome this impactPotential opportunities due to COVID-19 outbreakGlobal Phosphoric Acid Market Analysis, Insights and Forecast, 2017-2028Key Findings / SummaryMarket Size Estimates and Forecast By Application (Volume/Value)FertilizersDiammonium Phosphate (DAP)Monoammonium Phosphate (MAP)Trisodium Phosphate (TSP)OthersAnimal FeedFood AdditivesOthersBy Region (Volume/Value)North AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaTOC Continued…!
Speak to Our Expert:https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/phosphoric-acid-market-104571
Have a Look at Related Research Insights:Phosphates Market Size, Share & Industry Analysis, By Type (Ammonium, Calcium, Phosphoric Acid, Potassium, Sodium, Others), By Application (Agrochemicals, Food & Beverages, Detergents, Water Treatment Chemicals, Metal Treatment, Others) And Regional Forecast 2021-2028
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.Phone:US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: sales@fortunebusinessinsights.comFortune Business Insights™LinkedIn | Twitter | Blogs

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.