Market Report on Phosphoric Acid Market in India

17th September 2016 – Navi Mumbai, India: Market Report on India present the latest report on “Market Report on Phosphoric Acid Market in India”,   to help industry consultants, phosphoric acid manufacturers, vendors and dealers align their market-centric strategies.

Phosphoric acid (H3PO4) is a phosphorus-containing inorganic acid that is colorless and odorless. Phosphoric acid is majorly categorized into fertilizer grade and technical grade. Fertilizer grade phosphoric acid is primarily used in manufacturing phosphate chemicals, which are used in the production of phosphatic fertilizers such as DAP (diammonium phosphate), MAP (monoammonium phosphate), TSP (triple superphosphate), SSP (single superphosphate), etc.; whereas technical grade phosphoric acid is used for various industrial application such as sugar and oil refining, manufacturing of detergents, food & beverage, pharmaceutical, water treatment, metal recovery, etc. Production of DAP and SSP fertilizers grew from 3.53 million tons and 3.14 million tons in 2010 to 3.61 million tons and 4.22 million tons, respectively in 2014. Anticipated growth in consumption and production of SSP and DAP fertilizers in the coming years is expected to propel growth in India phosphoric acid market through 2021.

“India Phosphoric Acid Market By Type, By Application, Competition Market Forecast & Opportunities, 2011-2021”, the country’s phosphoric acid market is projected to grow at a CAGR of more than 7% during 2016 - 2021. Fertilizers grade dominates India phosphoric acid market, with the segment accounting for a share of more than 90% in 2015. Fertilizer grade phosphoric acid is expected to continue its dominance in the coming years on account of growing demand for phosphatic fertilizers such as DAP, MAP, SSP, etc. Indo Maroc Phosphore was the leading company in the country’s phosphoric acid market in 2015. The company is anticipated to further increase its market penetration during the forecast period by setting up...