
Study Period | 2019 - 2030 |
Market Volume (2025) | 96.91 Million tons |
Market Volume (2030) | 119.22 Million tons |
CAGR | 4.23 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Phosphoric Acid Market Analysis
The Phosphoric Acid Market size is estimated at 96.91 million tons in 2025, and is expected to reach 119.22 million tons by 2030, at a CAGR of 4.23% during the forecast period (2025-2030).
The global phosphoric acid industry operates within a complex economic landscape characterized by evolving industrial production patterns and shifting trade dynamics. According to BASF's 2022 report, global chemical production (excluding pharmaceuticals) is expected to increase by 2.0% in 2023, reflecting the broader industrial sector's recovery and stabilization. The phosphoric acid market has witnessed significant structural changes in production capabilities, with major manufacturers implementing strategic capacity expansions and technological upgrades. This transformation has been particularly evident in Asia, where companies are investing heavily in modernizing their production facilities and improving operational efficiency.
Supply chain resilience and raw material security have emerged as critical priorities for phosphoric acid manufacturers worldwide. In 2023, significant investments in domestic production capabilities have been observed, notably exemplified by the USDA's announcement of a grant program spanning 47 states to expand innovative production for domestic fertilizer production capacity. The program received USD 3 billion in applications from more than 350 independent companies, demonstrating strong industry commitment to localizing production and reducing import dependencies. These developments are reshaping traditional supply chain patterns and fostering greater regional self-sufficiency.
The phosphoric acid industry has witnessed substantial technological advancements and strategic consolidations aimed at improving production efficiency and market reach. A notable example is Paradeep Phosphates Ltd's completion of its phosphoric acid capacity expansion from 300,000 to 500,000 tons in August 2023, which represents a significant step in backward integration capabilities. Additionally, Baker Hughes expanded its presence in Asia in 2023, establishing a 40,000-square-meter facility for manufacturing and distributing chemical solutions, demonstrating the industry's commitment to regional market development and technological advancement.
The global pharmaceutical sector, a significant end-user of phosphoric acid, has shown remarkable growth with worldwide pharmaceutical sales reaching USD 1.48 trillion in 2022. This growth has been accompanied by increasing demands for higher purity grades and specialized H3PO4 products. Industry players are responding through strategic acquisitions and partnerships, as evidenced by OCP Group's acquisition of a 50% stake in GlobalFeed S.L. in 2023, which strengthened its position in the animal nutrition sector and expanded its product accessibility. These developments reflect the industry's evolution toward more specialized applications and value-added products.
Phosphoric Acid Market Trends
High Demand for Fertilizer Industry
The fertilizer industry represents the primary growth driver for the phosphoric acid market, with approximately 90% of the globally produced phosphoric acid (over 43 million metric tons annually) being utilized in phosphoric acid fertilizer production. Phosphoric acid serves as a crucial intermediate in manufacturing essential fertilizers like monoammonium phosphate (MAP), diammonium phosphate (DAP), and triple superphosphate (TSP). The compound's significance in agriculture stems from its multifunctional capabilities—serving as a plant nutrient source, pH adjustment agent, and cleaning solution for irrigation equipment affected by lime precipitation. Additionally, phosphorus-based fertilizers have demonstrated superior performance compared to organic alternatives, particularly in accelerating plant maturation and root development, making them especially valuable in arid regions.
The growing emphasis on domestic fertilizer production across major economies further strengthens this driver. In September 2022, the United States government announced a significant $500 million program to boost domestic fertilizer production, while Canada declared plans to increase its fertilizer exports by 20% annually. These initiatives are complemented by substantial production volumes from key players—China, Russia, the United States, India, and Canada collectively produce more than 60% of the world's fertilizer nutrients. China leads this group, accounting for approximately 25% of global production, while Russia and the United States each contribute less than 10%. The implementation of supportive government policies, particularly in India, has facilitated investments across public, cooperative, and private sectors, further solidifying the fertilizer industry's role as a key demand driver for phosphoric acid.
Increasing Usage in the Food and Beverage Industry
The food and beverage industry represents a significant growth driver for the phosphoric acid market, with the compound being extensively utilized as an acidulant and flavor enhancer in various products, including carbonated beverages, jams, processed meats, and dairy products. In the beverage sector, phosphoric acid plays a crucial role in providing the characteristic tangy taste to colas while simultaneously acting as a preservative by controlling bacterial and fungal growth. The compound's versatility extends to the processed food industry, where it serves multiple functions, including pH regulation in various food items, cheese processing, fruit juice clarification, and edible oil refining. This widespread application base has been supported by the compound's proven safety record and effectiveness in food preservation and flavor enhancement.
The growth of this driver is further reinforced by the expanding food processing sector globally, particularly in emerging economies. For instance, India's food industry has emerged as the third-largest globally, with projections indicating continued robust growth as the country positions itself to become the world's largest food producer. The food and grocery retail market in India alone is expected to surpass USD 850 billion in sales by 2025, indicating the massive potential for phosphoric acid demand in food applications. Additionally, the compound's role in improving food quality and extending shelf life aligns with the increasing consumer demand for processed and convenience foods, making it an indispensable component in modern food processing operations.
Segment Analysis: By End-User Industry
Fertilizers Segment in Phosphoric Acid Market
The fertilizers segment continues to dominate the global phosphoric acid market, holding approximately 77% market share in 2024. This substantial market position is primarily driven by the extensive use of phosphoric acid in the production of various fertilizer products, including mono-ammonium phosphate (MAP), di-ammonium phosphate (DAP), triple superphosphate (TSP), and single superphosphates. The segment's dominance is further strengthened by increasing global food demand and the need for higher agricultural productivity. Major fertilizer manufacturers are expanding their production capacities to meet this growing demand, particularly in regions like Asia-Pacific and North America. The segment's growth is also supported by government initiatives and subsidies in various countries to promote fertilizer usage and ensure food security.

Food and Beverage Segment in Phosphoric Acid Market
The food and beverage segment is emerging as the fastest-growing segment in the phosphoric acid market, projected to grow at approximately 5% CAGR from 2024 to 2029. This growth is primarily driven by the increasing use of phosphoric acid as a food additive and acidulant in various applications, including carbonated beverages, processed meats, and dairy products. The segment's expansion is further supported by the rising demand for processed and convenience foods globally, particularly in emerging economies. Food manufacturers are increasingly utilizing phosphoric acid for its versatile properties in food preservation, pH adjustment, and flavor enhancement. The segment is also benefiting from the growing trend of ready-to-drink beverages and packaged foods, especially in urban areas.
Remaining Segments in End-User Industry
The other segments in the phosphoric acid market, including chemicals, medicine, metallurgy, and other industrial applications, collectively play a significant role in shaping market dynamics. The chemicals segment utilizes orthophosphoric acid as a key intermediate in producing various chemical compounds and surfactants. In the medicine sector, H3PO4 finds applications in dental materials and pharmaceutical processing. The metallurgy segment employs phosphoric acid for metal treatment and surface cleaning applications. These segments are influenced by technological advancements in their respective industries and the growing demand for specialty applications. The diverse application portfolio across these segments provides stability to the overall market and offers opportunities for manufacturers to diversify their product offerings.
Phosphoric Acid Market Geography Segment Analysis
Phosphoric Acid Market in Asia-Pacific
The Asia-Pacific region represents the dominant force in the phosphoric acid market, driven by substantial demand from the fertilizers, chemicals, medical, and food & beverage industries. China, India, Japan, and South Korea are the key contributors to regional growth, with each country showcasing unique market dynamics and application preferences. The region's market is characterized by increasing investments in agricultural productivity, expanding food processing sectors, and growing industrial applications. Strong government support for agricultural development, particularly in China and India, continues to drive demand for phosphate fertilizers, while the expanding food and beverage sector across the region creates steady demand for food-grade phosphoric acid.

Phosphoric Acid Market in China
China maintains its position as the largest market for phosphoric acid in the Asia-Pacific region, commanding approximately 61% of the regional market share. The country's dominance is supported by its massive agricultural sector, which accounts for about 7% of global agricultural acreage while feeding 22% of the world's population. China's phosphoric acid market is primarily driven by its position as the world's largest fertilizer manufacturer and consumer. The country has demonstrated consistent growth in nitrogen, phosphate, and potash fertilizer production, supported by government initiatives to ensure fertilizer supplies and stabilize prices. Additionally, China's robust food and beverage industry, particularly in beverage production and dairy manufacturing, continues to create substantial demand for food-grade phosphoric acid.
Phosphoric Acid Market in India
India emerges as the fastest-growing market in the Asia-Pacific region, with a projected growth rate of approximately 5% from 2024-2029. The country's phosphoric acid market is experiencing rapid expansion driven by its position as one of the world's largest agrochemical producers and its growing emphasis on agricultural productivity. India's market growth is supported by various government initiatives, including fertilizer subsidies and agricultural development programs. The country's expanding food processing industry and growing pharmaceutical sector further contribute to market growth. Recent developments, such as capacity expansions by major producers like Paradeep Phosphates Ltd, demonstrate the market's strong growth trajectory and increasing domestic production capabilities.
Phosphoric Acid Market in North America
The North American phosphoric acid market demonstrates robust growth driven by advanced agricultural practices, established food processing industries, and significant chemical manufacturing capabilities. The United States, Canada, and Mexico form the core markets in this region, each contributing uniquely to the overall market dynamics. The region's market is characterized by high technological adoption in fertilizer production, stringent quality standards in food-grade applications, and innovative developments in industrial applications. The presence of major global players and continued investments in research and development further strengthen the market's competitive position.
Phosphoric Acid Market in United States
The United States dominates the North American phosphoric acid market, holding approximately 72% of the regional market share. As one of the world's largest agricultural producers, the country's market is primarily driven by its extensive fertilizer industry, where phosphoric acid serves as a crucial component in various phosphate-based fertilizers. The country's well-established food and beverage sector, coupled with its advanced chemical manufacturing industry, creates diverse application opportunities. The US market benefits from strong infrastructure, technological advancement, and strategic government initiatives aimed at boosting domestic fertilizer production.
Phosphoric Acid Market in United States - Growth Trends
The United States also leads regional growth with a projected rate of approximately 4% from 2024-2029. This growth is supported by increasing investments in domestic fertilizer production, exemplified by the USDA's grant program for expanding innovative production capacity. The country's focus on sustainable agriculture practices and the growing demand for processed foods continue to drive market expansion. Additionally, the pharmaceutical and chemical sectors' steady growth creates consistent demand for high-purity phosphoric acid, further supporting market development.
Phosphoric Acid Market in Europe
The European phosphoric acid market showcases a mature and well-structured landscape, characterized by stringent regulations and high-quality standards across applications. The region's market dynamics are shaped by the diverse industrial bases of Germany, United Kingdom, France, and Italy, each contributing significantly to overall demand. The market benefits from advanced agricultural practices, sophisticated food processing industries, and innovative chemical manufacturing sectors across these countries.
Phosphoric Acid Market in France
France emerges as the largest consumer of phosphoric acid in Europe, supported by its position as the largest agricultural sector in the region. The country's market is driven by its significant food and beverage industry, which accounts for 20% of the total manufacturing market. France's strong focus on agricultural productivity and its position as the sixth-largest agrifood exporter worldwide reinforces its market leadership.
Phosphoric Acid Market in Germany
Germany demonstrates the highest growth potential in the European market, supported by its position as Europe's largest economy and its robust industrial base. The country's market growth is driven by its advanced agricultural sector, where about half of the land is used for agriculture, making it the third-largest exporter of agricultural goods globally. Germany's strong chemical industry and significant pharmaceutical sector further contribute to market expansion.
Phosphoric Acid Market in South America
The South American phosphoric acid market demonstrates significant potential, with Brazil and Argentina serving as key markets in the region. Brazil emerges as both the largest and fastest-growing market in South America, driven by its position as one of the world's largest agricultural producers and its expanding food processing sector. The region's market is characterized by increasing investments in agricultural productivity, growing demand for fertilizers, and expanding food processing industries. Government initiatives across countries to boost agricultural output and reduce dependency on imported fertilizers are shaping market dynamics. The presence of major global players and continued investments in domestic production capabilities further strengthen the market's growth prospects.
Phosphoric Acid Market in Middle East and Africa
The Middle East and Africa region presents a dynamic market landscape for phosphoric acid, with Saudi Arabia and South Africa emerging as key markets. Saudi Arabia stands out as both the largest and fastest-growing market in the region, driven by its significant investments in agricultural development and expanding food processing sector. The region's market benefits from abundant raw material resources, strategic geographical location, and increasing investments in domestic production capabilities. Government initiatives to boost agricultural productivity and reduce food imports, particularly in Gulf Cooperation Council countries, continue to drive market growth. The region's expanding industrial base and growing focus on food security further contribute to market development.
Phosphoric Acid Industry Overview
Top Companies in Phosphoric Acid Market
The global phosphoric acid market features prominent players like OCP Group, Mosaic, PhosAgro Group, Nutrien Ltd, and IFFCO leading the industry through vertical integration and strategic positioning. Companies are increasingly focusing on expanding production capacities and implementing technological advancements to improve operational efficiency, particularly in phosphoric acid manufacturing processes. Strategic acquisitions and joint ventures remain key growth drivers, with companies actively pursuing opportunities in emerging markets and strengthening their presence across the value chain. Market leaders are investing heavily in research and development to develop specialized grades of phosphoric acid for diverse applications while simultaneously implementing sustainable production practices. The industry is witnessing a trend toward capacity expansion projects and modernization of existing facilities to meet growing demand and maintain a competitive advantage.
Consolidated Market with Strong Regional Players
The phosphoric acid industry exhibits a partially consolidated structure, characterized by the presence of both global conglomerates and regional specialists operating across different geographical regions. Major players maintain their market positions through vertical integration, controlling everything from phosphate rock mining to final product distribution, which provides them significant cost advantages and supply chain control. The industry has witnessed several strategic acquisitions and partnerships, particularly in emerging markets, as companies seek to expand their geographical footprint and strengthen their market presence.
The market dynamics are shaped by the strong presence of state-owned enterprises, particularly in regions with significant phosphate rock reserves, alongside private multinational corporations. Companies are increasingly focusing on establishing strategic partnerships and joint ventures to enhance their production capabilities and market reach. The competitive landscape is further influenced by regional players who maintain strong positions in their respective local markets through established distribution networks and customer relationships, while global players leverage their technological expertise and economies of scale to maintain their competitive edge.
Innovation and Sustainability Drive Future Growth
Success in the phosphoric acid market increasingly depends on companies' ability to innovate and adapt to changing market demands while maintaining operational efficiency. Market leaders are focusing on developing specialized grades of phosphoric acid for high-value applications in industries such as food and pharmaceuticals, while simultaneously optimizing their production processes to reduce costs and environmental impact. The ability to secure reliable raw material sources, implement advanced production technologies, and maintain strong distribution networks will be crucial for companies looking to maintain or expand their market share.
For new entrants and smaller players, success will largely depend on their ability to identify and serve niche markets, develop innovative applications, and establish strong partnerships across the value chain. The industry faces increasing regulatory scrutiny regarding environmental impact and safety standards, making investments in sustainable production technologies and compliance measures essential for long-term success. Companies must also consider the concentrated nature of end-user industries and develop strategies to manage potential demand fluctuations while maintaining strong customer relationships and service quality. Furthermore, understanding the phosphoric acid price trend will be vital for strategic planning and maintaining competitive pricing strategies.
Phosphoric Acid Market Leaders
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OCP Group
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IFFCO
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Mosaic
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Nutrien Ltd
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PhosAgro Group of Companies
- *Disclaimer: Major Players sorted in no particular order

Phosphoric Acid Market News
- May 2023: The OCP Group secured a 50% ownership share in GlobalFeed SL. This strategic acquisition enabled OCP to broaden its presence in the animal nutrition industry and enhance customers' accessibility to the company's phosphoric acid products.
- July 2022: Nutrien Ltd acquired Brazilian company Casa do Adubo SA (Casa do Adubo). This acquisition included the transaction of 39 retail stores and ten distribution centers, which allows Nutrien to expand its reach to customers and is expected to generate a sales revenue of USD 400 million.
- February 2022: EuroChem Group completed the acquisition of the Serra do Salitre phosphate project and took over the advanced-stage mine and plant in Minas Gerais. This complex comprises an open-pit phosphate mine with over 350 million metric tons (MMT) of reserves and a plant with a production capacity of 1 MMT of fertilizers per year.
Phosphoric Acid Market Report - Table of Contents
1. Introduction
- 1.1 Study Assumptions
- 1.2 Scope of Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
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4.1 Market Drivers
- 4.1.1 High Demand for Fertilizer Industry
- 4.1.2 Increasing Usage in the Food and Beverage Industry
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4.2 Market Restraints
- 4.2.1 Health Hazards Caused by Phosphoric Acid
- 4.3 Industry Value Chain Analysis
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4.4 Industry Attractiveness - Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Supplier
- 4.4.2 Bargaining Power of Buyer
- 4.4.3 Threat of New Entrant
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Price Trend Analysis of Phosphoric Acid (2018-2023)
- 4.6 Technological Snapshot
5. Market Segmentation (Market Size in Volume)
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5.1 By End-user Industry
- 5.1.1 Fertilizer
- 5.1.2 Food and Beverages
- 5.1.3 Chemicals
- 5.1.4 Medicine
- 5.1.5 Metallurgy
- 5.1.6 Other End-user Industries
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5.2 By Geography
- 5.2.1 Asia-Pacific
- 5.2.1.1 China
- 5.2.1.2 India
- 5.2.1.3 Japan
- 5.2.1.4 South Korea
- 5.2.1.5 Rest of Asia-Pacific
- 5.2.2 North America
- 5.2.2.1 United States
- 5.2.2.2 Mexico
- 5.2.2.3 Canada
- 5.2.3 Europe
- 5.2.3.1 Germany
- 5.2.3.2 United Kingdom
- 5.2.3.3 Italy
- 5.2.3.4 France
- 5.2.3.5 Rest of Europe
- 5.2.4 South America
- 5.2.4.1 Brazil
- 5.2.4.2 Argentina
- 5.2.4.3 Rest of South America
- 5.2.5 Middle East and Africa
- 5.2.5.1 Saudi Arabia
- 5.2.5.2 South Africa
- 5.2.5.3 Rest of Middle East and Africa
6. Competitive Landscape
- 6.1 Merger and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Aditya Birla Chemicals
- 6.4.2 Agropolychim
- 6.4.3 EuroChem Group
- 6.4.4 ICL
- 6.4.5 IFFCO
- 6.4.6 Innophos
- 6.4.7 J.R. Simplot Company
- 6.4.8 Mosaic
- 6.4.9 Nutrien Ltd
- 6.4.10 Phosagro
- 6.4.11 Sterlite Copper (A Unit of Vedanta Limited)
- *List Not Exhaustive
7. Market Opportunities and Future Trends
- 7.1 Recovery of Rare Earth Elements from Phosphoric Acid
- 7.2 Commercialization of Chiral Phosporic Acid as a Catalyst
Phosphoric Acid Industry Segmentation
Phosphoric acid is a colorless, odorless phosphorus-containing solid, an inorganic compound with the chemical formula H3PO4. It is a component of fertilizers, detergents, and many household cleaning products.
The phosphoric acid market is segmented by end-user industry and geography. By end-user industry the market is segmented into Fertilizer, Food and Beverage, Chemicals, Medicine, Metallurgy, and Other End-user Industries. The report also covers the market size and forecasts for the market in 15 countries across the globe. The report offers market size and forecasts for the Phosphoric Acid market in volume (tons) for all the above segments.
By End-user Industry | Fertilizer | ||
Food and Beverages | |||
Chemicals | |||
Medicine | |||
Metallurgy | |||
Other End-user Industries | |||
By Geography | Asia-Pacific | China | |
India | |||
Japan | |||
South Korea | |||
Rest of Asia-Pacific | |||
North America | United States | ||
Mexico | |||
Canada | |||
Europe | Germany | ||
United Kingdom | |||
Italy | |||
France | |||
Rest of Europe | |||
South America | Brazil | ||
Argentina | |||
Rest of South America | |||
Middle East and Africa | Saudi Arabia | ||
South Africa | |||
Rest of Middle East and Africa |
Phosphoric Acid Market Research FAQs
How big is the Phosphoric Acid Market?
The Phosphoric Acid Market size is expected to reach 96.91 million tons in 2025 and grow at a CAGR of 4.23% to reach 119.22 million tons by 2030.
What is the current Phosphoric Acid Market size?
In 2025, the Phosphoric Acid Market size is expected to reach 96.91 million tons.
Who are the key players in Phosphoric Acid Market?
OCP Group, IFFCO, Mosaic, Nutrien Ltd and PhosAgro Group of Companies are the major companies operating in the Phosphoric Acid Market.
Which is the fastest growing region in Phosphoric Acid Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Phosphoric Acid Market?
In 2025, the Asia-Pacific accounts for the largest market share in Phosphoric Acid Market.
What years does this Phosphoric Acid Market cover, and what was the market size in 2024?
In 2024, the Phosphoric Acid Market size was estimated at 92.81 million tons. The report covers the Phosphoric Acid Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Phosphoric Acid Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Phosphoric Acid Market Research
Mordor Intelligence offers a comprehensive analysis of the phosphoric acid market. We provide detailed insights into the global industry landscape for H3PO4 and orthophosphoric acid. Our extensive research covers everything from phosphoric acid fertilizer applications to the dynamics of the fine phosphate market. This includes a detailed analysis of the phosphoric acid cost of production and segments within the wet phosphoric acid market. The report examines various grades, such as fertilizer grade phosphoric acid and purified phosphoric acid, while analyzing global phosphoric acid demand trends across regions.
Stakeholders benefit from our detailed price analysis. This includes phosphoric acid price trends and forecasts for the phosphoric acid market price through 2024. The report, available in an easy-to-download PDF format, provides comprehensive data on the concentration of H3PO4, phosphoric acid ph value, and technical specifications crucial for industry operations. Our analysis encompasses phosphoric acid cost factors, price per ton variations, and future projections. This enables businesses to make informed decisions based on current phosphoric acid prices and market dynamics. The report also covers specialized segments such as the fluorophosphoric acid, polyphosphoric acid, and hypophosphorous acid markets, providing a complete industry perspective.