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Monday, 20 March 2023 09:49 GMT

Phosphoric Acid Market Expected To Witness A Sustainable Growth Over 2031

(MENAFN- Ameliorate Digital Consultancy) New York, Global phosphoric acid market report from Global Insight Services is the single authoritative source of intelligence on Phosphoric Acid Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Phosphoric acid is an inorganic acid that is derived from phosphates. It is a clear, colorless, and odorless liquid that is highly corrosive. Phosphoric acid is used in a variety of industries, including as a food additive, in detergents, and in fertilizers.

Key Market Players

The phosphoric acid market report includes players such as LANXESS, Mosaic, Nutrien Ltd., Paradeep Phosphates Ltd., Sasol, Solvay, Sterlite Copper, IFFCO, Innophos, and Kemipex.

Key Trends

In recent years, the use of phosphoric acid has become increasingly popular in a variety of industries due to its unique properties. Phosphoric acid is a strong acid that is highly corrosive and has a high affinity for metals. This makes it an ideal choice for cleaning metal surfaces and removing rust. It is also used in the food industry as an additive to improve the flavor of food.

In the past, phosphoric acid was produced by the reaction of phosphate rock with sulfuric acid. However, this process is no longer used due to the environmental concerns associated with the production of sulfuric acid. Today, phosphoric acid is produced by the reaction of phosphate rock with hydrochloric acid. This process is known as the wet process and is the most common method of production.

The wet process is typically used to produce phosphoric acid with a purity of 85-95%. The purity of the acid can be increased to 99.9% by using the dry process. In the dry process, phosphate rock is reacted with anhydrous hydrogen chloride. The resulting acid is then distilled to remove impurities.

The production of phosphoric acid is expected to continue to grow in the coming years due to the increasing demand from the food and beverage industry.

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Key Market Segments

The phosphoric acid market bifurcated on the basis of application, and region. On the basis of application, it is segmented into diammonium hydrogenphosphate (DAP), monoammonium dihydrogenphosphate (MAP), triple superphosphate (TSP), and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.

Key Drivers

The key drivers of the phosphoric acid market are the increasing demand for fertilizers, detergents, and food additives, and the growing demand for water treatment chemicals. Phosphoric acid is an essential ingredient in the production of fertilizers, detergents, and food additives. It is also used in water treatment to remove impurities from water. The increasing demand for these products is expected to drive the growth of the phosphoric acid market.

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