Phosphoric Acid Market by Process Type (Wet, Thermal), Application (Fertilizers, Feed & Food Additives, Detergents, Water Treatment Chemicals, Metal Treatment, Industrial Use), and Region - Global Forecast to 2030

The global phosphoric acid market size is projected to reach USD 142.14 billion in 2030 from USD 112.03 billion in 2024, at a CAGR of 4.06% during the forecast period. The market for phosphoric acid is experiencing growth as world agriculture evolves toward more productive practices demanding phosphate-rich fertilizers to address increasing food production needs. Increased industrialization in fast-growing markets, combined with growing global population and urban eating habits, is building demand, while production technology advances are enhancing supply efficiency and cost competitiveness.

“Thermal process type accounted for the second-largest share of the phosphoric acid market in 2024.”

In 2024, the thermal process segment had the second-biggest market share of phosphoric acid because it has the capacity to produce pure acid, which fits both food-grade and industrial uses. In contrast with the wet process, the thermal path is chosen more frequently in the sector where high process quality is demanded, like pharmaceuticals, beverages, or electronics production. This is evidenced by its stable demand because of the premium it sets on the purity and performance of the products, especially in markets where regulatory compliance and specialized applications prevail over pricing.

“Detergents segment was the third largest application of the global phosphoric acid market, in terms of value, in 2024.”

In 2024, the detergents segment accounted for the third-largest share of the global phosphoric acid market in terms of value. This dominance is led by its indispensable status as a fundamental component in the production of cleaning and hygiene goods. Phosphoric acid is widely used in the area of formulating a detergent product since it is quite effective in the removal of mineral deposits to enhance cleaning power and guarantee the performance of the products in household, industrial, and institutional applications. Market demand for the segment was underpinned by consumers' increasing consciousness about hygiene levels, urban population growth, and the emergence of developing markets. Moreover, the constant innovation of green and high-performance detergents helped drive stable consumption, consolidating the segment's strong position in the overall market portfolio.

“Europe was the second-largest phosphoric acid market, in terms of value, in 2024.”

Europe was the second-largest phosphoric acid market in value in 2024, led primarily by the demand from feed & food additives, water treatment, and phosphate-based fertilizers. The market is controlled by well-established chemical suppliers with incorporated supply chains, high regulatory adherence, and technology in the production can ensure the persistence of the same product at a high rate, and functions based on sustainability. Also, the market position is strengthened by the increasing utilization of specialty chemicals and industrial usage applications.

• By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
• By Designation: Directors - 50%, Managers - 30%, and Others - 20%
• By Region: North America - 40%, Europe - 35%, Asia Pacific - 20%, Rest of World – 5%

The key players profiled in the report include OCP Group (Morocco), The Mosaic Company (US), PJSC PhosAgro (Russia), ICL Group Ltd (Israel), Nutrien Ltd. (Canada), EuroChem Group AG (Switzerland), Innophos (US), Solvay SA (Belgium), Ma’aden (Saudi Arabia), and IFFCO (India).

Research Coverage

This report segments the phosphoric acid market based on process type, application, and region and provides estimations of value (USD million) for the overall market size across various regions. It has also conducted a detailed analysis of key industry players to provide insights into their business overviews, services, and key strategies associated with the phosphoric acid market.

Reasons to Buy this Report

This research report is focused on various levels of analysis — industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the phosphoric acid market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights into the following points:

• Market Penetration: Comprehensive information on phosphoric acid offered by top players in the global market
• Analysis of key drivers (Increasing demand for phosphate fertilizers, demand from the food industry, and growing demand for phosphoric acid in fuel cells), restraints (Environmental concerns & increasing regulatory pressure), opportunities (Commercialization of chiral phosphoric acid as catalyst and recovery of rare earth elements for phosphoric acids), and challenges (Diminishing supply of phosphate) influencing the growth of phosphoric acid market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the phosphoric acid market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for phosphoric acid across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global phosphoric acid market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the phosphoric acid market

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