Phosphoric Acid Market Size to Grow USD 42520 Million by 2027 at a CAGR of 2.2% | Valuates Reports
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Monday, April 3, 2023
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The global Phosphoric Acid market was valued at USD 36380 million in 2020 and it is expected to reach USD 42520 million by the end of 2027, growing at a CAGR of 2.2% during 2021-2027.
Key Points:
- The global Phosphoric Acid market was valued at USD 36380 million in 2020 and it is expected to reach USD 42520 million by the end of 2027, growing at a CAGR of 2.2% during 2021-2027.
- Major Factors Driving the Growth of the Phosphoric Acid Market:
The Phosphoric Acid market is primarily driven by rising demand from the food and beverage and fertilizer sectors as well as the expanding usage of phosphoric acid in fuel cells. - Opportunities for the phosphoric acid market can be found in the commercialization of chiral phosphoric acid as a catalyst and in the recovery of rare earth elements from phosphoric acid.
- PHOSPHORIC ACID MARKET SHARE ANALYSIS:
OCP, Mosaic, Yuntianhua, PhosAgro, Tongling Chemical Industrial Group, and others are major participants in the global phosphoric acid market.