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Key players in the phosphoric acid market are The Mosaic Company, PJSC PhosAgro, Prayon, EuroChem Group AG, OJSC Phosagro, Prayon Group, Israel Chemical Ltd., Yara International, OCP SA, Yuntianhua Group, Fertilizer and Chemicals Travancore Ltd.

New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Global Phosphoric Acid Market Report 2022: Impact of Ukraine-Russia War” report – https://www.reportlinker.com/p06365034/ ? utm_source=GNW
and Kazphosphate LIC.

The global phosphoric acid market is expected to grow from USD 45.62 billion in 2021 to USD 49.31 billion in 2022, at a compound annual growth rate (CAGR) of 8.1%. The Russian-Ukrainian war has undermined the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on many countries, increased commodity prices and supply chain disruptions, affecting many markets around the world. The phosphoric acid market is expected to reach USD 59.02 billion by 2026 at a CAGR of 4.6%.

The phosphoric acid market consists of the sale of phosphoric acid by entities (organizations, sole traders, and partnerships) for use as an ingredient in fertilizers, detergents, and many household cleaners. Phosphoric acid is trichloroic acid, which exists as a thick liquid.

It is corrosive to the skin, eyes and mucous membranes of both humans and laboratory animals. Dilute solutions of phosphoric acid have a pleasant sour taste.

Thus, it is also used as a food additive to impart acidic properties to soft drinks and other ready-to-eat foods, as well as in water treatment products.

The main types of phosphoric acid are calcium phosphate, phosphoric acid, potassium phosphate, and sodium tripolyphosphate. Calcium phosphate is the calcium salt of phosphoric acid with the chemical formula Ca3(PO4)2.

It is also known as calcium phosphate tribasic or tricalcium phosphate and appears as a white amorphous or crystalline powder that is odorless and tasteless. The different types of processes include oven process, dry oven process and others that have different degrees such as food. agricultural and industrial.

The end user industries using this acid are fertilizers, food and beverages, chemicals, medicine, metallurgy, etc.

Asia Pacific was the largest region in the phosphoric acid market in 2021. Asia Pacific is expected to be the fastest growing region during the forecast period.

The regions covered in the Phosphoric Acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing demand for diammonium phosphate (DAP) fertilizers is significantly contributing to the growth of the phosphoric acid market. Diammonium phosphate is one of a series of water-soluble ammonium phosphate salts that can be produced when ammonia reacts with phosphoric acid. .

Phosphoric acid is widely used in fertilizer production because its combination with ground phosphate produces triple superphosphate (TSP), monoammonium phosphate (MAP) and diammonium phosphate (DAP). For example, according to the World Bank, a US-based international financial organization. facility, phosphate DAP prices increased by 23% due to increased demand from farmers worldwide.

Furthermore, according to an article published by the American Farm Bureau Federation, a US-based insurance company, global fertilizer demand in 2019/20 was 190.5 MMT (million metric tons) and in 2020/21 global fertilizer demand reached 192, 9 of MMT. (million metric tons). Therefore, increasing demand for DAP phosphate fertilizers is driving the demand for phosphoric acid market.

Technological innovations are the main trend gaining popularity in the phosphoric acid market. Phosphoric acid companies are continuously developing new technologies and advanced products to increase their market share.

For example, in December 2021, Clean TEQ Water, an Australian-based water treatment and resource recovery company, launched new PHOSPHIX technology, which combines continuous ion filtration (CIF) technology and chemical precipitation to specifically remove phosphate from water and recover recycled material. solid phosphorus products. PHOSPHIXTM achieves very low effluent concentrations (0.1 ppm) with over 99% water recovery and recycles phosphate into hydroxyapatite, which is used to produce fertilizer.

In May 2021, Desmet Ballestra Group, a French engineering and equipment and supplies company, acquired Buss ChemTech AG for an undisclosed sum. With this acquisition, Desmet Ballestra will complete its offering in the fertilizer industry in addition to expansion. its suite of applications in gas-liq. reaction processes, including alkylation, hydrogenation, and phonation.

Furthermore, by leveraging Desmet Ballestra Group’s project management, engineering, procurement and field skills, Buss will be able to increase the range of services it can provide to clients. Buss ChemTech AG is a Swiss company specializing in the development and licensing of chemicals, including phosphoric acid.

The countries covered in the Phosphoric Acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The Phosphoric Acid Market Research Report is one of a series of new reports that provide phosphoric acid market statistics, including global market size of the phosphoric acid industry, regional shares, competitors with phosphoric acid market share, detailed phosphoric acid market segments, market trends and opportunities. and any additional data you may need to grow in the phosphoric acid industry. This Phosphoric Acid Market research report presents a complete perspective of everything you need with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06365034/?utm_source=GNW

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