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Global Phosphoric Market Insight2022-02-15 Comments
The Phosphoric is forecast to smooth over the next few years. According to the WK-chem Research “Global Phosphoric Professional Survey Report 2022, Forecast to 2027”, with the increasing demand of the Phosphate fertilizer industry，the Phosphoric industry is developing at an incredible speed. According to the WK-chem regression analysis model, the compound annual growth rate (CAGR) for the period 2022-2027 is expected to be 3.53%.
“The use of Phosphoric technology in the manufacture and use of Phosphate fertilizer is expected to provide various opportunities for market growth, Senior analyst, Chemical & Material Market Research Center in WK-chem.” It is expected that during the forecast period, the agriculture will dominate the global Phosphoric market.”
Growing global demand for food due to a growing global population has led to a surge in agricultural production. This, in turn, acts as a catalyst for market growth as most of the phosphoric acid produced globally is used to make fertilizers. In addition, the wide application of phosphoric acid as an additive in processed food and beverages and the growth of the global processed food and beverages market are also key factors contributing to the growth of the phosphoric acid market. The next five years. Stringent regulations by governments in several countries have resulted in the increased use of phosphate fertilizers to ensure food safety, which is also positively impacting the market growth throughout the forecast period.
This WK-chem market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Phosphoric companys that include The Mosaic Company，PJSC PhosAgro，Nutrien，IFFCO，EuroChem Group AG .etc.
Segmentation of Phosphoric Market:
The phosphoric acid market is roughly classified by product type: diammonium hydrogen phosphate (DAP), ammonium dihydrogen phosphate (MAP), triple superphosphate (TSP), and others. DAP leads the market and this high share is attributed to the increasing demand for DAP fertilizers in global agriculture. China is the world’s leading manufacturer, followed by the US, Russia, Brazil and Morocco. It’s high nutritional value has made it a popular choice in the global farming community. Subdivided according to application into fertilizers, food and beverages, pharmaceuticals, etc. The fertilizer segment is expected to hold a large share of the market as most of the acid is used in fertilizer production. Furthermore, the growing global demand for food due to population growth is one of the key factors increasing the demand for fertilizers in many parts of the world. In addition, growth in fertilizer exports is another factor driving the growth of the sector over the next five years.
Phosphoric Market: Regional Analysis
In terms of geography, the global Phosphoric market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific is expected to hold a significant market share over the next five years. The region also prides itself on China being a major producer of phosphoric acid. Furthermore, the presence of a large agricultural sector in the region owing to the presence of the world’s largest economies such as India and China is a major factor further supporting the market share throughout the forecast period. In addition, the region’s large population base also supports the region’s market share over the next five years.
Largest share area：Asia-Pacific
Largest share country：China
Product Type：diammonium hydrogen phosphate (DAP), ammonium dihydrogen phosphate (MAP), triple superphosphate (TSP)
Application：fertilizers, food and beverages, pharmaceuticalsLeading Company：The Mosaic Company，PJSC PhosAgro，Nutrien，IFFCO，EuroChem Group AG