Increased demand for the use of fertilizers like DAP is driving the global phosphorous acid market.
The Phosphorous Acid Market is expected to reach USD 44.873.5 million during the forecast period at a 4.7% CAGR.
Covid-19 Impact & Market Status
The pandemic due to COVID-19 has impacted each and every industry. Numerous pandemic-related actions, like as lockdowns, the collapse of trade regulations, and the closure of many enterprises and workplaces, might save lives in multiple countries. The worldwide health crisis induced by the COVID-19 pandemic is projected to have two effects on fertiliser use: the primary influence on labour and logistics, and the secondary impact on agricultural commodity demand. The east and west Asian countries are expected to see the largest fall. The consumption of fertilizers in South and North America is expected to fall moderately. In Africa, things are looking up for the time being. Despite the COVID-19 dilemma, Eastern European and Central Asian nations, as well as the markets in Oceania, are likely to expand their fertiliser demand. Food supply networks have also suffered as a result. Although serious disruptions are unlikely, several governments have developed arrangements to aid food supply chains and farmers. As a result, the COVID-19 pandemic's influence on the fertiliser sector would hinder phosphoric acid market growth.
This report provides a in-depth study of the global economic performance of the global phosphorous acid market with focus on critical market aspects
The Fertilizer Segment To Drive The Market Of Phosphorous Acid.
The Asia-Pacific fertiliser sector is predicted to develop at a higher rate than ever before over the projection period, resulting in increasing demand for phosphoric acid for use in the manufacturing of fertilisers such as diammonium phosphate and trisodium phosphate, which are used to produce crops. Due to increased consumer purchasing power in the area, the food and beverage sector in Asia is predicted to rise at a robust CAGR of more than 7% throughout the projection period. This will assure the segment's demand for phosphoric acid.
Asia Pacific To Be The Dominating Region In The Phosphorous Acid Market.
Currently, Asia Pacific leads the agriculture business and consumes the most fertiliser. This is mostly due to the availability of rich areas, a big population, favourable weather, and substantial exports from emerging nations. Population growth has also restricted arable land, necessitating the use of fast-growing chemicals. One of the primary reasons why synthetic chemicals are favoured is for this reason over natural or bio-based alternatives, and Asia Pacific, being one of the most populated regions, is predicted to expand in the phosphorous market and maintain its position during the projection period.
The tremendous increase in agricultural output in China, along with the country's economic expansion, has fuelled demand for phosphate fertilisers. As a result, local production and consumption of the commodity have increased in the country. However, due to rigorous government controls, output is expected to rise at a modest rate throughout the predicted period. Furthermore, increased agricultural activity and fertiliser exports are likely to boost output
Rapid growth in agriculture sector across the world and economic progress of developing countries has led to rapid demand for phosphate fertilizers furthering the development of global phosphorous acid market.
Owing to benefits such as better control over diseases caused by pathogens on agronomical and horticultural crops, improved crop health, chemical stability in plants, improved crop production efficiency, phosphorous acid is experiencing more demand as opposed to other agrochemical in the agriculture sector thus fostering remarkable progress in global phosphorous acid market.
The factors such as increased demand for high grade chemicals, the ongoing debate over food safety regarding crop yield and efficiency in crop production, increased agricultural activities, governments have imposed certain rules and regulations is driving the global phosphorous market.
The global phosphorous acid market is expected to be of worth USD 67.1 billion at a CAGR of 3.8% during 2022-2029.
Phosphorous acid is an inorganic compound with the highest known acidity, meaning it can completely dissociate in water. HPO- is the most acidic of the inorganic phosphoric acids, with the highest level that is lower than any of the inorganic phosphoric acids ionized in water. The molecule is so acidic that it can completely dissociate in water and form hydrogen phosphates and phosphoric acid, not unlike how inorganic acids dissociate in water. Phosphate rock is utilised in the production of crude acid, whereas white phosphorus is employed in the production of purer acid. In its purest form, it is a crystalline substance; in less concentrated form, it is a translucent syrupy liquid.
Phosphorous acid is a phosphate-containing version of phosphoric acid. This group is responsible for phosphoric acid's capacity to function as a nutrition for cells. Phosphorous acid is a by-product of phosphorus metabolism and is also found in bone and teeth. It is extensively used in the manufacture of a variety of products such as basic lead phosphonate PVC stabilizer, fertilizers, and others.
Phosphorous acid is also manufactured as a precursor to other inorganic and organic compounds, such as phosphate esters and phosphates. In the laboratory, phosphorous acid is typically prepared using concentrated hydrochloric acid and phosphorous trioxide. It is also used to make dental cement, as well as in the sugar and textile industries. It serves as an acidic, fruity flavour in culinary goods.
The most common application of phosphorous acid (phosphonic acid) is the synthesis of basic lead phosphate, which is used as a stabiliser in PVC and other chlorinated polymers. It's used to make basic lead phosphonate PVC stabiliser, aminomethylene phosphonic acid, and hydroxyethane diphosphonic acid. It is also employed as a powerful reducing agent and in the manufacture of phosphoric acid, synthetic fibres, organophosphorus insecticides, and a very efficient water treatment agent.
Phosphoric acid is a popular reagent in organic chemistry, and it is used to make synthetic polymers, colours, and medications. It is a byproduct of the phosphate fertiliser business as well. It's also a common raw ingredient in the manufacture of other compounds. In recent years, the need for phosphorous acid has expanded significantly due to its application in a wide range of goods, which has raised the material's demand. In the foreseeable future, the phosphorous acid market is likely to expand rapidly.
Phosphoric acid is an essential chemical used in the production of many types of phosphate fertilisers. The most common phosphatic fertilisers are diammonium phosphate and monoammonium phosphate. Industrial phosphate fertilisers are mostly produced from the phosphate rock. Approximately two-thirds of the world's phosphate supply are created from deposits of sedimentary and marine phosphate rocks. Previously, ground rock phosphate was utilised as a phosphorus source for soils.
DAP is a phosphorus fertiliser that is widely used across the world. It is a popular fertiliser due to its somewhat high nutritional content and remarkable physical features. DAP is a good source of phosphate and nitrogen for plant feeding. Grain cultivation, such as fruits and vegetables, provides an adequate supply of phosphate and nitrogen.
The use of DAP is really beneficial as it improves the fertility of the soil which in turn increases the crop yield. It makes fruit and vegetable yields more consistent. DAP fertilisers are increasingly being used to boost agricultural yields in developed nations and areas. These fertilisers are used to compensate for the soil's phosphate deficiency. Increased food consumption, driven by expanding population and consumer spending power, is predicted to support the phosphoric acid sector's development throughout the projection period.
Phosphoric acid supply is regulated at the various levels in many jurisdictions. In response to several environmental concerns, legislators are imposing additional regulations on fertilisers, usage of goods and plants. China's regulatory supervision and the European Union's Green Deal criteria, as well as the worldwide adoption of emissions exchange and carbon regimes, are projected to have a stronger influence on the fertiliser industry in the future.
However, resurgence of COVID-19 in many countries leading to reduced market demand due to closures, several other hazards associated with exposure to phosphorous, including as global development, the economic recovery rate, trade relations, health of various creatures, temperature, and government conduct might reduce the use of the fertilizers likely to hamper the global phosphorous market.
Furthermore, increased demand for high grade chemicals, the ongoing debate over food safety regarding crop yield and efficiency in crop production, increased agricultural activities, governments have imposed certain rules and regulations is anticipated to be a growth opportunity for the global phosphorous acid market.
The key market players in the global phosphorous acid market are The Mosaic Company, Arkema, Nutrien, Solvay S.A, Prayon, LANXESS, Futong Chemical, Yichang kaixiang Chemical, Eurochem Group, Hindalco, and Spectrum Chemical, Agrium among others.
Latest Innovations in Global Phosphorous Acid Market: A Snapshot:
On July 2018, Innophos entered into a three year agreement with Nutrien. Under the agreement the company supplied Purified Phospheric Acid to Nutrien.
Phosphorous Acid Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 67.1 billion|
|Growth Rate||CAGR of 3.8 %|
|Segment Covered||Grades, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||The Mosaic Company, Arkema, Nutrien, Solvay S.A, Prayon, LANXESS, Futong Chemical, Yichang kaixiang Chemical, Eurochem Group, Hindalco, and Spectrum Chemical, Agrium among others.|
Key Segments of the Global Phosphorous Acid Market
Grades Overview, 2019-2029 (USD Billion)
- Technical Grade
- Food Grade
Application Overview, 2019-2029 (USD Billion)
- Food & Beverages
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa