Growing Demand For North America Phosphoric Acid In The Making Of Fertilizers Is One Of The Significant Factors Influencing The Market Growth.
The global North America Phosphoric Acid Market is expected to reach USD 41.20 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the growing application of North America Phosphoric Acid among the end-user industries.
A significant portion of North America Phosphoric Acid produced worldwide is used in the production of fertilizers. It is primarily converted into three phosphate salts, namely diammonium hydrogen phosphate (DAP), monoammonium dihydrogen phosphate (MAP), and triple superphosphate (TSP), which are in high demand from the agriculture industry as fertilizers. Phosphorus is a vital plant nutrient and is absorbed by plant roots, generally as the dihydrogen phosphate ion derived from North America Phosphoric Acid.
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Further key findings from the report suggest:
Top Companies: Innopho Holdings Inc., Eurochem, Mosaic Company, Argium Inc., United Phosphorous Ltd., Solvay-Rhodia, CF Industries Holdings Inc., Israel Chemical Ltd., Vale SA, and laxness AG, among others.
By production method, wet process contributed to the largest market share in 2018. The major portion of North America Phosphoric Acid is produced by deploying the wet-process method, and the North America Phosphoric Acid made from this process is utilized in fertilizer production.
By grade, the food-grade phosphoric is likely to grow at a faster rate in the forecast period.
By distribution channel, the online distribution channel is estimated to observe a faster growth rate of 4.1% in the period 2019-2027.
By industry vertical, the agriculture industry dominated the market with around 90% of the market share in 2018 and is likely to experience a CAGR of 2.1% in the forecast period.
The market in the Asia Pacific region held the largest market in 2018 and is projected to witness a growth rate of 2.8% in the forecast period. Growth of the agriculture industry in developing countries, including China and India, and a rise in the level of disposable income, among others, are the factors responsible for the growth of the market in the region.
Regional Outlook
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- North America (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To know more about the report: https://www.reportsanddata.com/report-detail/phosphoric-acid-market
Market Segmentation:
Production Method Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Wet Process
- Thermal Process
- Dry Kiln Process
Grade Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Electronic Grade
- Food grade
- Technical Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Online
- Offline
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- Agriculture
- Food Beverage
- Pharmaceutical
- Electronics
- Water Treatment
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key North America Phosphoric Acid market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global North America Phosphoric Acid market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global North America Phosphoric Acid market key players
3.2 Global North America Phosphoric Acid size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the North America Phosphoric Acid market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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