DUBLIN, July 16, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/bhpzxc/global_phosphoric) has announced the addition of the "Global Phosphoric Acid Market 2015-2019" report to their offering.
The global phosphoric acid market to grow at a CAGR of 2.15% over the period 2015-2019.
Phosphoric acid, also known as orthophosphoric acid, is the largest produced and consumed inorganic acid in terms of value, and the second largest in terms of volume after sulfuric acid. Phosphoric acid finds its applications in phosphatic fertilizers, animal feed, water treatment solutions. Phosphoric acid is the key raw material used in the production of phosphatic fertilizers. Growing population and limited availability of land drive the demand for fertilizers including phosphatic fertilizers.
Increase in cross-border investments and joint ventures is a key trend in the market. Companies are investing in phosphate mining and phosphoric acid manufacturing plants in various countries, thereby contributing to the growth of the market.
According to the report, retail price administration and subsidies on the sales of fertilizers is a key driver of the market. Developing countries such as India rely on the retail price administration of fertilizer producers.
Further, the report states that increased health concerns and growing environmental awareness will result in a shift toward GM seeds. These seeds enhance crop yield and require only a small amount of fertilizers, thereby hindering the growth of the market.
The report provides the segmentation of the market based on the following criteria:
- Geography (APAC, EMEA, North America, and ROW)
- End-user (fertilizer manufacturers, F&B manufacturers, animal feed manufacturers and others)
- Production process (wet process and thermal process)
Other Prominent Vendors
- Acron Group
- CF Industries Holdings
- Israel Chemicals
- Jordan Phosphate Mines
- Saudi Arabian Mining Company
For more information visit http://www.researchandmarkets.com/research/bhpzxc/global_phosphoric
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SOURCE Research and Markets