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Global Super Phosphoric Acid Market Share, Size, Report, Growth, Analysis, Trends, Forecast: By Application: Fertilisers, Feed and Food Additives, Chemical Industry, Pharmaceuticals, Industrial Use, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Super Phosphoric Acid Market Outlook
The global super phosphoric acid market size is expected to grow at a CAGR of 5.10% between 2023 and 2028, 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.
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
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.
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
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Super Phosphoric Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Super Phosphoric Acid Historical Market (2018-2022)
8.3 Global Super Phosphoric Acid Market Forecast (2023-2028)
8.4 Global Super Phosphoric Acid Market by Application
8.4.1 Fertilisers
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Feed and Food Additives
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Chemical Industry
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Pharmaceuticals
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Industrial Use
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Super Phosphoric Acid Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America Super Phosphoric Acid Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Super Phosphoric Acid Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Super Phosphoric Acid Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Super Phosphoric Acid Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Super Phosphoric Acid Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Nutrien Ltd.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Itafos Conda
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 J.R. Simplot Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Advantis Crop Science Pvt. Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Novaphos Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Super Phosphoric Acid Market: Key Industry Highlights, 2018 and 2028
2. Global Super Phosphoric Acid Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Super Phosphoric Acid Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Super Phosphoric Acid Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Super Phosphoric Acid Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Super Phosphoric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Super Phosphoric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Super Phosphoric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Super Phosphoric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Super Phosphoric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Super Phosphoric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Super Phosphoric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Super Phosphoric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Super Phosphoric Acid Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Super Phosphoric Acid Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Super Phosphoric Acid Market Structure
Key Questions Answered in the Report
The market for super phosphoric acid is expected to grow at a CAGR of 5.10% between 2023 and 2028.
The major market drivers include increasing demand for phosphorus rich fertilisers and rising investments by key market players towards research and development activities.
The key trends fuelling the growth of the market include growing food demand, increasing popularity of processed food and beverages, and rising applications of super phosphoric acid in the chemical industry.
The formula for super phosphoric acid is H3PO4.
Super phosphoric acid can be harmful if it comes into direct contact with skin or is swallowed. Upon coming into contact with skin, super phosphoric acid can case severe skin burns.
Super phosphoric acid encourages root growth which aids in easy absorption of nutrients from the soil.
The best time for using super phosphoric acid based fertilisers is during planting.
The various applications of super phosphoric acid include fertilisers, feed and food additives, chemical industry, pharmaceuticals, and industrial use, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the global super phosphoric acid market are Nutrien Ltd., Itafos Conda, J.R. Simplot Company, Advantis Crop Science Pvt. Ltd., and Novaphos Corporation, among others.
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