Phosphoric Acid Market - Forecast (2023 - 2028)

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Phosphoric Acid Market Market size, Industry
outlook, Market Forecast, Demand Analysis, Market
Share, Market Report 2021-2026
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• Phosphoric Acid Market is forecast to reach
  16.09 billion by 2026, after growing at a CAGR
  of 5.9 during 2021-2026. High usage of
  phosphoric acid for the production of phosphate
  fertilizers, such as Mono-Ammonium Phosphate
  (MAP) and Diammonium Phosphate (DAP), is expected
  to drive the market over the forecast period.
  Globally, phosphoric acid is the second-largest
  consumed inorganic acid after sulfuric acid. It
  is industrially produced in three grades with
  different concentration levels as per its end
  use. The three grades include food grade,
  agriculture grade, and industrial grade.
  Agriculture grade phosphoric acid leads the
  global market, in terms of value as well as
  volume, owing to its high usage in the
  manufacturing of fertilizers.

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• Key Takeaways
• The product demand in the developed countries of
  North America and Asia Pacific has reached a
  maturity phase, generating a moderate growth for
  the chemical. However, increasing agricultural
  activities and favorable government regulations
  in the developing countries of Asia Pacific,
  Latin America, and the Middle East Africa have
  fostered the production and demand for phosphoric
  acid.
• However, the end use industries are being
  significantly affected due to the COVID-19
  pandemic, as most of the countries have issued
  stay at home guidance i.e., lockdown. This
  factor is limiting the market growth in current
  situation.

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By Distribution Channel- Segment
Analysis Fertilizers sector has dominated the
market for Phosphoric Acid Market in 2020,
by growing at a CAGR of 5.5 during the forecast
period 2021-2026. The rapid growth in
agricultural output in China and the economic
progress of the country has propelled the demand
for phosphate fertilizers. This, in turn, has
resulted in a rise in the domestic production and
consumption of the product in the nation.
However, owing to stringent government
regulations, the production is anticipated to
register moderate growth rate over the forecast
period. On the contrary, in India, the chemical
is anticipated to register significant growth,
both in terms of production as well as
consumption. 
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• Phosphoric Acid Market
  Outlook 
• Chemische Fabric Budenheim
• Vale
• Yara International
• The Mosaic Company
• Yuntianhua Group
• United Phosphorus
• Saudi-Arabian Mining Company
• Jordan Phosphate Mines
• Solvay-Rhodia
• Laxness

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Phosphoric Acid Market Forecast
(2023 - 2028) Learn More About the Report _at_
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ic-acid-market.html
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Reddy Contact (1) 970-236-3677 Email
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