What is the global market size of Phosphoric Acid Market?

Global Phosphoric Acid Market size was valued at USD 41.28 Billion in 2022 and is poised to grow from USD 43.06 Billion in 2023 to USD 60.30 Billion by 2031, at a CAGR of 4.3% during the forecast period (2024-2031).

Who are the key vendors in the Global Phosphoric Acid Market?

The majority of these corporations have formed several mergers and acquisitions, joint ventures, and other alliances in the industry on a global scale. It is predicted that this strategic move will increase SABIC's phosphoric acid production. Numerous additional similar strategic actions taken by important producers to improve their market share have resulted from the industry's continual evolution. 'OCP Group (Morocco)', 'The Mosaic Company (United States)', 'Nutrien Ltd. (Canada)', 'Yara International ASA (Norway)', 'EuroChem Group AG (Switzerland)', 'Israel Chemicals Ltd. (Israel)', 'Prayon S.A. (Belgium)', 'Ma'aden - Saudi Arabian Mining Company (Saudi Arabia)', 'Kazphosphate LLC (Kazakhstan)', 'Wengfu Group Co., Ltd. (China)', 'Solvay SA (Belgium)', 'PhosAgro (Russia)', 'Agrium Inc. (Canada)', 'ICL Group (Israel)', 'JPMC (Jordan Phosphate Mines Company) (Jordan)', 'Vale S.A. (Brazil)', 'Copebrás (Brazil)', 'Grupa Azoty S.A. (Poland)', 'Wengfu (Group) Co., Ltd. (China)', 'Rhodia (France)', 'Agrofoska (Poland)', 'Minbos Resources Limited (Australia)'

Top Phosphoric Acid Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Phosphoric Acid Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Phosphoric Acid industry players.

Phosphoric Acid Market Competitive Landscape

Phosphoric Acid Market Top Player’s Company Profiles

OCP Group (Morocco)

The Mosaic Company (United States)

Nutrien Ltd. (Canada)

Yara International ASA (Norway)

EuroChem Group AG (Switzerland)

Israel Chemicals Ltd. (Israel)

Prayon S.A. (Belgium)

Ma'aden - Saudi Arabian Mining Company (Saudi Arabia)

Kazphosphate LLC (Kazakhstan)

Wengfu Group Co., Ltd. (China)

Solvay SA (Belgium)

PhosAgro (Russia)

Agrium Inc. (Canada)

ICL Group (Israel)

JPMC (Jordan Phosphate Mines Company) (Jordan)

Vale S.A. (Brazil)

Copebrás (Brazil)

Grupa Azoty S.A. (Poland)

Wengfu (Group) Co., Ltd. (China)

Rhodia (France)

Agrofoska (Poland)

Minbos Resources Limited (Australia)

Phosphoric Acid Market Recent Development

In February 2024, TOYO SOLAR, a subsidiary solar cell company of VSUN SOLAR, inked a long-term strategic supply deal with OCI Company Ltd., a top South Korean-owned polysilicon producer. The agreement was signed at the headquarters of TOYO SOLAR in Vietnam.
In February 2024, First Phosphate Corp. achieved a major milestone by completing a pilot project to produce battery-grade phosphoric acid. This success establishes the company as a prominent player in the North American supply chain for lithium iron phosphate batteries, showcasing its dedication to promoting sustainable energy solutions.
In January 2024, Moroccan Minister of Industry and Trade, Ryad Mezzour, said in Gandhinagar, India, that Morocco and India could work closely together through South-South and triangular cooperation. Speaking at the 10th edition of the "Vibrant Gujarat" investors' summit, Mezzour highlighted the potential for a strategic partnership between the two countries. He mentioned the opportunity to create joint projects across Africa to promote industrialization and economic growth while ensuring food security and health safety.

REPORT OVERVIEW BUY NOW

REQUEST FOR SAMPLE

Want to customize this report?

REQUEST FREE CUSTOMIZATION

FAQs

Phosphoric Acid Market size was valued at USD 48.5 Billion in 2024 and is poised to grow from USD 50.59 Billion in 2025 to USD 70.84 Billion by 2033, growing at a CAGR of 4.3% during the forecast period (2026–2033).

The majority of these corporations have formed several mergers and acquisitions, joint ventures, and other alliances in the industry on a global scale. It is predicted that this strategic move will increase SABIC's phosphoric acid production. Numerous additional similar strategic actions taken by important producers to improve their market share have resulted from the industry's continual evolution. 'ICL Group Ltd. (Israel)', 'OCP Group S.A. (Morocco) ', 'The Mosaic Company (USA) ', 'Nutrien Ltd. (Canada) ', 'EuroChem Group AG (Switzerland) ', 'PhosAgro Group of Companies (Russia) ', 'IFFCO (India) ', 'Yara International ASA (Norway) ', 'Prayon Group (Belgium) ', 'Aditya Birla Group (India) ', 'Innophos Holdings, Inc. (USA) ', 'CF Industries Holdings, Inc. (USA) ', 'J.R. Simplot Company (USA) ', 'Vale S.A. (Brazil) ', 'Tata Chemicals Ltd. (India) ', 'Coromandel International Ltd. (India) ', 'Sinochem Group (China) ', 'Wengfu Group (China) ', 'Guizhou Kailin Group (China) ', 'Saudi Arabian Mining Company (Saudi Arabia)'

The agriculture sector is a major consumer of phosphoric acid, primarily in the form of fertilizers. Phosphorus is an essential nutrient for plant growth and plays a vital role in promoting root development, flowering, and fruiting. With the increasing global population and the need to enhance agricultural productivity, the demand for phosphoric acid-based fertilizers is expected to rise, driving the growth of the phosphoric acid market.

Growing Demand for Enhanced Efficiency Fertilizers: There is a rising demand for fertilizers that offer increased efficiency in nutrient delivery and minimize environmental impact. Phosphoric acid-based fertilizers, such as monoammonium phosphate (MAP) and diammonium phosphate (DAP), are gaining popularity due to their balanced nutrient content and ease of application. These fertilizers provide controlled release of phosphorus, reducing the risk of nutrient runoff and improving crop yields.

A size of USD 16,801.5 million was the Asia Pacific industry in 2022. The area, which dominated the global market during the forecast period and is likely to keep doing so, is heavily reliant on the government, the chemical sector, agriculture, and consumer spending, all of which are essential to GDP. The regional market will undoubtedly be pushed by the expanding agricultural sector. Over 40% of the market in Asia Pacific was accounted for by China. The country is a significant hub for the manufacture of fertilizer. It is projected that the expansion of end-use industries will increase demand in China throughout the forecast period. The abundance of chemical production facilities in India will help the economy of the nation.

Top Phosphoric Acid Companies

Phosphoric Acid Market Competitive Landscape

FAQs

What is the global market size of Phosphoric Acid Market?

Who are the key vendors in the Phosphoric Acid Market?

What is the key driver of Phosphoric Acid Market?

What is the key market trend for Phosphoric Acid Market?

Which region accounted for the largest share in Phosphoric Acid Market?

Request Free Customization