Phosphoric Acid Market to Hit $87 Bn By 2032, Says Global Market Insights Inc.
Major phosphoric acid market participants include Tangshan Solvents Trading Co., Ltd., Vizag Chemical, Mitsui Fine Chemicals, TCI America, Inc., Shandong Lixing Chemicals Co., Ltd., Mitsui Fine Chemicals, Merck, Liaoning Huifu Chemical Co., Ltd., and Wego Chemical Group.
Selbyville, Delaware,, April 13, 2023 (GLOBE NEWSWIRE) —
The phosphoric acid market valuation is estimated to reach USD 87 billion by 2032, as reported in a research study by Global Market Insights Inc.
Increasing real estate development projects will accelerate the use of phosphoric acid for construction applications. In developing economies such as India, the construction sector is expected to observe a strong growth trajectory, as the proposal to boost capital investment outlay for FY2024 can improve the momentum of construction projects. Since the compound can help get rid of cement streaks, hard water stains, and other mineral deposits, the introduction of favorable government construction policies and tax laws will add impetus to phosphoric acid market growth.
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The 85% concentration segment is anticipated to exceed 12 billion by 2032. The product’s robust application scope in the dental and orthopedic etchant, rust inhibitor, toothpaste, electrolyte, water treatment, and feedstock for fertilizers will stimulate the adoption of 85% phosphoric acid. Despite a volatile economy, renters, homeowners, and business owners have planned to increase their spending on professional cleaning services. These factors will also spur the consumption of 85% phosphoric acid as a cleaning & sanitizing agent.
Europe phosphoric acid market size is set to cross USD 14 billion by 2032, considering the strong presence of manufacturers including Arkema and Clariant. Germany has also emerged as a key exporter and importer of phosphoric acid. Despite the positive business landscape, construction outputs have declined due to supply chain crises and inflation. The report claims that these factors, along with the upswing in the price of butter and other dairy products, may limit the adoption of phosphoric acid as a raw material in the European construction and food industries.
The strategic landscape of the global phosphoric acid market consists of companies such as ArrMaz Products, Inc., Prayon, ICL Group Ltd., Gujarat Alkalies and Chemicals Limited, Shifang Sundia Chemical Industry, Univar Solutions Inc., Chuanlin Chemical, Nutrien, Haifa Group, Aditya Birla Chemicals, Hydrite Chemical Co., Chuandong Chemical Co., Ltd., and Innophos, among others.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Phosphoric Acid industry 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Concentration trends
2.1.3 Application trends
2.1.4 Grade trends
2.1.5 End-user industry trends
2.1.6 Regional trends
Chapter 3 Phosphoric Acid Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 outbreak
3.3 Industry ecosystem analysis
3.4 Regulatory landscape
3.5 Patent analysis
3.6 Technology landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Growth potential analysis
3.9 Pricing analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
3.12 COVID-19 impact on demand for the phosphoric acid by applications
3.13 Impact of Russia Ukraine war on phosphoric acid market landscape
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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