U.S. Phosphoric Acid Market Size & Outlook, 2022-2040
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U.S. phosphoric acid market highlights
- The U.S. phosphoric acid market generated a revenue of USD 3,117.4 million in 2022 and is expected to reach USD 4,805.3 million by 2040.
- The U.S. market is expected to grow at a CAGR of 2.4% 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.
Phosphoric acid market data book summary
| Market revenue in 2022 | USD 3,117.4 million |
| Market revenue in 2040 | USD 4,805.3 million |
| Growth rate | 2.4% (CAGR from 2023 to 2040) |
| Largest segment | Diamonium hydrogenphosphate (dap) |
| Fastest growing segment | Monoammonium Dihydrogenphosphate (MAP) |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, U.S. accounted for 7.6% of the global phosphoric acid market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2040.
- In North America, U.S. phosphoric acid market is projected to lead the regional market in terms of revenue in 2040.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,363.6 million by 2040.
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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 |
U.S. 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 36.63% in 2022. Horizon Databook has segmented the U.S. 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.
The U.S. has one of the dominating agrochemical industries in North America. It is home to various fertilizer manufacturing companies including BASF SE, Fertilizer Canada, Yara, and others. Agriculture is a major industry in the country which is also a net exporter of food.
Agriculture is carried out in every state, and it ranges from small-scale producers to large-scale commercial farms. The growing inclination of farmers towards the cultivation of maize is likely to bolster the demand for phosphatic fertilizers and thereby phosphoric acid in the country.
The U.S. population is growing continuously at a rapid rate, which is adding to the food demand. In 2020, the total farmland area in the U.S. was 896 million acres. The country has very little scope of expansion of arable land which is stimulating the fertilizer demand to increase agricultural productivity.
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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 country-level data and insights on the U.S. phosphoric acid market, including forecasts for subscribers. This country databook contains high-level insights into U.S. phosphoric acid market from 2018 to 2040, including revenue numbers, major trends, and company profiles.
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US Application - Phosphoric Acid Market, 2022 - 2040 (US$M)
U.S. Phosphoric Acid Market Share, 2022 & 2040 (US$M)
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