Global Super Phosphoric Acid Market Report and Forecast 2024-2032

Global Super Phosphoric Acid Market Outlook

The global super phosphoric acid market size is expected to grow at a CAGR of 5.10% between 2024 and 2032, driven by increasing demand for phosphorus rich fertilisers and rising investments by towards research and development activities.

Key Trends in the Market

Super phosphoric acid or SPA is a liquid which has a 69-76% concentration of phosphorus pentoxide (P2O5). Rich in phosphorus and with applications across various industries, this multi-functioning agent is used for pH adjustments, fertiliser preparation, and cleansing and maintenance of industrial equipment. The high phosphorus content makes it suitable for open crop fields and greenhouse crops, among others.

• The key trends propelling the growth of the super phosphoric acid market include growing food demand, as increasing food and nutrition requirements to sustain large populations has boosted the demand for super phosphoric acid. Over the forecast period, the market is expected to witness exponential growth due to the upsurge in agricultural activities.

• Another crucial trend aiding the growth of the market includes the growing popularity of processed foods and beverages. Super phosphoric acids are used as food additives in order to enhance the taste and shelf life of processed foods and beverages. Rising consumption of such products is anticipated to fuel the growth of the super phosphoric acid market.

• Increased utilisation of phosphorus rich fertilisers to enhance growth of crops is another key trend fuelling the growth of the market for super phosphoric acid. The rising propensity of farmers towards enhancing the quality and the quantity of produce has led to increased usage of phosphorus rich fertilisers.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

Based on application the market is segmented into fertilisers, feed and food additives, chemical industry, pharmaceuticals, and industrial use, among others. On the basis of region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global super phosphoric acid market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Nutrien Ltd.

• Itafos Conda

• J.R. Simplot Company

• Advantis Crop Science Pvt. Ltd.

• Novaphos Corporation

• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by Application

On the basis of application, fertilisers are expected to account for a significant share of the super phosphoric acid market over the forecast period due to increasing fertiliser demand and production. The rising demand for food due to growing population levels is further fuelling the demand for fertilisers across the globe. Furthermore, increase in export of fertilisers is also anticipated to boost the growth of the segment over the forecast period. Fertiliser applications of super phosphoric acid are also expected to witness growth owing to growing popularity of phosphorus rich fertilisers among farmers as they aid in improving the quality as well as quantity of the produce.

Market Share by Region

In terms of regions, the Asia Pacific is anticipated to witness exponential growth over the forecast period owing to increasing agricultural activities in order to feed the highly populated countries in the region. Agriculture being the backbone of several emerging economies in the Asia Pacific region is expected to aid the growth of the super phosphoric acid market. Presence of large population base in the region along with increasing preference for processed foods and beverages is also expected to propel the growth of the market in Asia Pacific for food additive applications of super phosphoric acid. Rising pharmaceutical and industrial activities in the Asia Pacific region are also anticipated to positively contribute towards the growth of the market.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Nutrien Ltd. is an agriculture chemical manufacturing company that was founded in 2018 and is headquartered in Saskatchewan, Canada. They are one of the largest producers of potash, nitrogen, and phosphate; key nutrients essential for healthy crops. They have over 1,500 locations across South America, North America, and Australia along with more than 3,300 crop advisors.

J.R. Simplot Company is an agribusiness company that was established in 1929 and is headquartered in Idaho, United States. The portfolio of the company includes fertiliser manufacturing, cattle production, phosphate mining, food processing, and farming, among others. The company continues seeking out new approaches and ideas so as to provide nutritious and safe food products.

Novaphos Corporation was founded in 2008 and is based in Maryland, United States. Their advanced technology produces high quality phosphoric acid while using low quality phosphate rock, in a resulting process which further reduces the production of gypsum. The expertise of Novaphos Corporation also lies in reprocessing existing phosphogypsum waste into useful products.

Other market players include Itafos Conda, and Advantis Crop Science Pvt. Ltd., among others.

Key Highlights of the Report