North America Phosphoric Acid Market Size & Outlook
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North America phosphoric acid market highlights
- The North America phosphoric acid market generated a revenue of USD 4,277.3 million in 2022.
- The market is expected to grow at a CAGR of 2.9% 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, Canada is expected to register the highest CAGR from 2023 to 2040.
North America data book summary
| Market revenue in 2022 | USD 4,277.3 million |
| Market revenue in 2040 | USD 7,168.9 million |
| Growth rate | 2.9% (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, North America region accounted for 10.4% 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.
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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 |
North America 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 36.39% in 2022. Horizon Databook has segmented the North America 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.
According to the Food and Agriculture Organization, the supply of phosphoric acid of North America was valued at 8,884 thousand tons while demand for phosphoric acid fertilizers was 5,187 thousand tons in 2020. Crops grown in North America include legumes, grains, vegetables, and fruits. Legumes such as alfalfa and soybeans form a major group of crops produced in the region.
Legumes need more phosphorous for the energy transformation in their nodules. It also plays a crucial role in nutrient uptake, root development, and growth of legume crops. This is likely to foster the demand for phosphate fertilizers which in turn is projected to have a positive impact on the phosphoric acid market.
The production of fertilizers in the region is inadequate to meet the domestic demand, thus imports account for a significant share of domestic consumption. The agriculture sector in the U.S. is characterized by continuous technological advancements in farming methods and a robust regulatory framework, which influences the dynamics of the agriculture sector in the country.
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Target buyers of North America phosphoric acid market databook
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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 North America phosphoric acid market, including forecasts for subscribers. This continent databook contains high-level insights into North America phosphoric acid market from 2018 to 2040, including revenue numbers, major trends, and company profiles.
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North America phosphoric acid market size, by country, 2018-2040 (US$M)
North America Phosphoric Acid Market Share, 2022 & 2040 (US$M)
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