Phosphoric Acid Market Size, Share, Growth Analysis, By Method(Wet Process, Thermal Process, Dry Skin Process), By Grade(Technical, Food, Electronic), By Region - Industry Forecast 2024-2031

The majority of these corporations have formed several mergers and acquisitions, joint ventures, and other alliances in the industry on a global scale. It is predicted that this strategic move will increase SABIC's phosphoric acid production. Numerous additional similar strategic actions taken by important producers to improve their market share have resulted from the industry's continual evolution.

Phosphoric Acid Market Top Player’s Company Profiles

• OCP Group (Morocco)

• The Mosaic Company (United States)

• Nutrien Ltd. (Canada)

• Yara International ASA (Norway)

• EuroChem Group AG (Switzerland)

• Israel Chemicals Ltd. (Israel)

• Prayon S.A. (Belgium)

• Ma'aden - Saudi Arabian Mining Company (Saudi Arabia)

• Kazphosphate LLC (Kazakhstan)

• Wengfu Group Co., Ltd. (China)

• Solvay SA (Belgium)

• PhosAgro (Russia)

• Agrium Inc. (Canada)

• ICL Group (Israel)

• JPMC (Jordan Phosphate Mines Company) (Jordan)

• Vale S.A. (Brazil)

• Copebrás (Brazil)

• Grupa Azoty S.A. (Poland)

• Wengfu (Group) Co., Ltd. (China)

• Rhodia (France)

• Agrofoska (Poland)

• Minbos Resources Limited (Australia)

Phosphoric Acid Market Recent Development

• In February 2024, TOYO SOLAR, a subsidiary solar cell company of VSUN SOLAR, inked a long-term strategic supply deal with OCI Company Ltd., a top South Korean-owned polysilicon producer. The agreement was signed at the headquarters of TOYO SOLAR in Vietnam. 
• In February 2024, First Phosphate Corp. achieved a major milestone by completing a pilot project to produce battery-grade phosphoric acid. This success establishes the company as a prominent player in the North American supply chain for lithium iron phosphate batteries, showcasing its dedication to promoting sustainable energy solutions. 
• In January 2024, Moroccan Minister of Industry and Trade, Ryad Mezzour, said in Gandhinagar, India, that Morocco and India could work closely together through South-South and triangular cooperation. Speaking at the 10th edition of the "Vibrant Gujarat" investors' summit, Mezzour highlighted the potential for a strategic partnership between the two countries. He mentioned the opportunity to create joint projects across Africa to promote industrialization and economic growth while ensuring food security and health safety.