- The market is witnessing steady growth as phosphoric acid is increasingly used in the production of fertilizers and food additives, reflecting its critical role in agriculture and food industries
- Manufacturers are focusing on improving production efficiency and developing high-purity phosphoric acid to meet the growing demand across industrial and consumer applications
- Asia-Pacific dominated the phosphoric acid market with the largest revenue share of 45.3% in 2024, driven by the region’s extensive use of phosphoric acid in fertilizer production and growing industrialization
- Europe region is expected to witness the highest growth rate in the global phosphoric acid market, driven by increasing focus on sustainable agriculture, stringent environmental regulations, and growing demand from the food and beverage and pharmaceutical sectors
- The Wet Process segment dominated the market with the largest market revenue share in 2024, attributed to its cost-effectiveness and large-scale applicability in fertilizer production. The wet process is widely adopted by manufacturers for producing industrial-grade phosphoric acid used in downstream applications such as ammonium phosphate fertilizers
