Middle East & Africa Phosphoric Acid Market Size & Outlook
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MEA phosphoric acid market highlights
- The MEA phosphoric acid market generated a revenue of USD 9,030.8 million in 2022.
- The market is expected to grow at a CAGR of 4% from 2023 to 2040.
- In terms of segment, diamonium hydrogenphosphate (dap) was the largest revenue generating application in 2022.
- Monoammonium Dihydrogenphosphate (MAP) is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2040.
MEA data book summary
| Market revenue in 2022 | USD 9,030.8 million |
| Market revenue in 2040 | USD 18,393.8 million |
| Growth rate | 4% (CAGR from 2023 to 2040) |
| Largest segment | Diamonium hydrogenphosphate (dap) |
| Fastest growing segment | Monoammonium Dihydrogenphosphate (MAP) |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2040 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diamonium Hydrogenphosphate (DAP), Monoammonium Dihydrogenphosphate (MAP), Triple Superphosphate (TSP), Other Fertilizers, Other Applications |
| Key market players worldwide | The Mosaic Co, Nutrien Ltd, Prayon, Inc, Yara International ASA, Banque Populaire du Maroc, Aditya Birla Group |
Other key industry trends
- In terms of revenue, MEA region accounted for 21.9% of the global phosphoric acid market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2040.
- Europe is the fastest growing regional market and is projected to reach USD 13,501.3 million by 2040.
Key Regions: U.S. , Japan , Brazil , Turkey , South Africa
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Phosphoric Acid Market Scope
Phosphoric Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Aditya Birla Group | View profile | 10001+ | Mumbai, Maharashtra, India, Asia | https://www.adityabirla.com/ |
| Banque Populaire du Maroc | View profile | 5001-10000 | Casablanca, Grand Casablanca, Morocco, Africa | https://www.groupebcp.com/fr/Pages/home.aspx |
| Prayon, Inc | View profile | 1001-5000 | Augusta, Georgia, United States, North America | http://www.prayon.com/fr/index.php |
| Yara International ASA | View profile | 18000 | Drammensveien 131, Oslo, Norway, 0277 | https://www.yara.com |
| The Mosaic Co | View profile | 14049 | 101 East Kennedy Boulevard, Suite 2500, Tampa, FL, United States, 33602 | https://www.mosaicco.com |
| Nutrien Ltd | View profile | 25900 | 211 19th Street East, Suite 1700, Saskatoon, SK, Canada, S7K 5R6 | https://www.nutrien.com |
Middle East & Africa phosphoric acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to phosphoric acid market will help companies and investors design strategic landscapes.
Diamonium hydrogenphosphate (dap) was the largest segment with a revenue share of 31.86% in 2022. Horizon Databook has segmented the Middle East & Africa phosphoric acid market based on diamonium hydrogenphosphate (dap), monoammonium dihydrogenphosphate (map), triple superphosphate (tsp), other fertilizers, other applications covering the revenue growth of each sub-segment from 2018 to 2040.
Saudi Arabia has the highest percentage of agricultural land in the Middle East while Oman has the lowest. Wheat and barley are the major staple crops grown in the region. The Middle East has generally more arid climate and limited water resources, which is detrimental to the production of food.
Thus, several countries in the region are dependent on imports for agricultural products. Around two-thirds of the regional population is living in areas with lack of renewable water resources to sustain the production of crops.
This is likely to increase the dependency on fertilizers to improve the output of agricultural sector thereby boosting the demand for phosphate fertilizers which, in turn, is likely to foster the growth of the phosphoric acid market in the coming years. Jordan Phosphate Mines Company (PLC), BAGFAS, and Ma’aden are some of the leading players in the phosphoric acid market in the region.
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Our clientele includes a mix of phosphoric acid market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa phosphoric acid market, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa phosphoric acid market from 2018 to 2040, including revenue numbers, major trends, and company profiles.
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MEA phosphoric acid market size, by country, 2018-2040 (US$M)
Middle East & Africa Phosphoric Acid Market Share, 2022 & 2040 (US$M)
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