Phosphorus Acid Market, By Grade (Technical Grade, Agriculture Grade, and Others), By Form (Solid, Liquid, and Others), By Application (Fertilizers, Reducing Agent, Stabilizer, Water Treatment Chemical, Others), By End-user (Textiles, Oil & Gas, Agriculture, Power Industry, Construction, Automotive, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Phosphorus Acid Market was valued at US$ 27.8 Billion in 2024 and is projected to grow at a CAGR of 8.2% to reach US$ 57.1 Billion by 2034.

Phosphorus acid, also known as orthophosphorous acid, is a chemical compound composed of phosphorus, hydrogen, and oxygen. It is an inorganic acid and is considered one of the oxyacids of phosphorus. Phosphorus acid is widely used in various industrial applications, agriculture, and chemical processes.

Agricultural Growth

Growing agriculture is a major factor in the market's demand for phosphoric acid. In particular, phosphite fertilisers, which are crucial for fostering plant development and raising agricultural yields, use phosphorus acid as a significant component. Phosphorus is one of the essential nutrients required for plant growth. Phosphorus acid, in the form of phosphite fertilizers, provides plants with the necessary phosphorus to support root development, flowering, and fruiting.

Chemical Industry Growth

The expansion of the chemical sector is a key factor in the market's demand for phosphoric acid. A versatile chemical, phosphoric acid is used in many different areas of the chemical industry. Phosphorus-containing compounds are used as flame retardants in a wide range of products, including textiles, plastics, and electronics. They help reduce the flammability of materials, contributing to fire safety.  

Restrains:

Phosphorus is a finite and non-renewable resource. It is primarily obtained from phosphate rock deposits. The availability of high-quality phosphate rock reserves is limited, and some regions with significant reserves have faced challenges related to depletion and extraction costs. Phosphate rock reserves are not evenly distributed globally. Some countries or regions have a dominant share of these reserves, and geopolitical factors, trade restrictions, or export bans can disrupt the supply chain and lead to supply shortages.    

Phosphorus Acid Market is segmented based on Grade, Form, Application, End-user and Region.

• Grade Insight

On the basis of Grade, Phosphorus Acid Market is segmented into Technical Grade, Agriculture Grade, and Others.

• Form Insights

On the basis of Form, Phosphorus Acid Market is segmented into Solid, Liquid, and Others.

• Application Insights

On the basis of Application, Phosphorus Acid Market is segmented into Fertilizers, Reducing Agent, Stabilizer, Water Treatment Chemical, Other.

• End-user Insights

On the basis of End-user, Phosphorus Acid Market is segmented into Textiles, Oil & Gas, Agriculture, Power Industry, Construction, Automotive, and Others.

• Phosphorus Acid Market Regional Insights:

On region the Phosphorus Acid Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

• North America market is estimated to witness a significantly high revenue share over the forecast period due to rising investment and funding. North America has a limited production capacity for phosphorus acid. The United States is a major producer and consumer of phosphorus acid, with some production facilities in states like Florida.
• Asia Pacific market is estimated to witness a fastest revenue share over the forecast period. Asia-Pacific, particularly China, is a major production hub for phosphorus acid. China's production capacity is substantial, and the country is a significant exporter of phosphorus acid.

Phosphorus Acid Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034.

The key players operating the Phosphorus Acid Market includes, Sure Chemical Co. ltd, Rudong Huayun Chemical, Chemfine International Co. Ltd, Futong Chemical, Hebei Mojin Biotechnology Co. Ltd, Nanjing Jiayi Sunway Chemical Co. Ltd, Linyi Chunming Chemical, Mudangjiang Fengda Chemicals, Zibo TianDan Chemical, and Ningbo Samreal Chemical Co. Ltd.   

The New Launched Product News,

• In July 2023, Jordan's JPMC announced new phosphorus acid plant in Al Shidiyah. Phosphorus pentoxide is scheduled to be produced at the plant in an annual capacity of 165,000 tons. Along with other industries, the initiative will bring about 250 direct jobs and at least 2,000 indirect jobs in the transportation and logistics sectors.

Strategic Acquisitions and Partnership News,

• In January 2023, Prayon finalizes acquisition of Febex phosphoric acid business from Arkema. Prayon's position in phosphorous chemistry will be strengthened by this acquisition, which is a significant step. The Group joins the electronics sector, which is expected to grow rapidly in both Europe and the US.