NEW YORK, June 24, 2016 /PRNewswire/ --
Phosphoric acid (H3PO4) is a phosphorus-containing inorganic acid which is produced by two commercial methods, namely, wet process and thermal process.Phosphoric acid produced by wet process is used in fertilizer production, whereas thermal process produces high purity phosphoric acid that is used in the manufacturing of chemicals for various end user industries including pharmaceuticals, food products, beverages, detergents and other non-fertilizer products. Phosphoric acid is the leading intermediate processing step or product between phosphate rock and the end user markets for phosphorus in phosphate form. Of the two grades of phosphoric acid, fertilizer and technical, fertilizer accounts for a lion's share in the Indian phosphoric acid market. Phosphoric acid is primarily used in the manufacturing of phosphate chemicals that are consumed for the production of phosphatic fertilizers like DAP (diammonium phosphate), MAP (monoammonium phosphate), TSP (triple superphosphate), SSP (single superphosphate) etc. Moreover, it is also used in the production of animal feeds along with manufacturing of phosphate chemicals for use in water treatment, metal treatment and detergent builders, for acidifying food and beverages and as intermediate in the manufacturing of phosphate in pharmaceutical industries among various other uses.
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India Phosphoric Acid Market: Drivers and Restraints
Mounting demand for phosphoric acid in fertilizer as well as non-fertilizer industries of India is propelling the growth of India phosphoric acid market. Large demand for phosphate fertilizers like such as DAP, MAP, TSP and SSP among others is forecast to boost the demand for phosphoric acid in the country. Indian phosphoric acid market is highly import driven and rising import has encouraged the Indian players to set up joint ventures in foreign countries having strong base for fertilizers such as Oman, Senegal, Morocco, Jordan, Tunisia etc. in order to have a buy back arrangement. Rising Indian production and export of SSP fertilizers to the international market is further pushing the demand for phosphoric acid in the country. Moreover, surging demand for phosphoric acid in non-fertilizer sector of India is attributed to its wide use as a food additive and acidifying agent in food and beverage industry, as an intermediate for producing phosphates that are utilized for water and metal treatment and for producing chemicals used in pharmaceutical and detergents industries. However, reduction in subsidies on phosphate fertilizers like DAP and MAP, increasing import of DAP in India due to decline in global DAP prices and decreasing domestic production of phosphoric acid is expected to hamper the growth of India phosphoric acid market through 2021.
India Phosphoric Acid Market: Segmentation
The India phosphoric acid market is segmented on the basis of grade, application and region.
Based on phosphoric acid grade, the India phosphoric acid market is segmented into the following:
Based on application of phosphoric acid, the India phosphoric acid market is segmented into the following:
India Phosphoric Acid Market: Overview
India has an import-driven phosphoric acid market which is forecast to exhibit steady growth over the next five years on account of expanding fertilizers industry in India. Indian phosphoric acid imports accounted for about 44% of global trade in 2015. Surged demand for fertilizers coupled with declining global DAP prices has resulted in robust growth in the DAP imports in India. However, increase in production capacity of phosphate fertilizer manufacturing facilities in India along with mounting cross border investments in order to establish joint venture companies in fertilizer rich countries is expected to reduce the reliance on imported raw materials for manufacturing of phosphatic fertilizers. In addition, declining SSP fertilizers import in India along with its rising production and export is expected to boost the demand for phosphoric acid over the next five years. Moreover, growing demand for phosphoric acid for non-fertilizer applications, such as, pharmaceutical, food and beverages, water and metal treatment, detergents is further anticipated to stimulate the phosphoric acid market of India through 2021.
India Phosphoric Acid Market: Region-wise Outlook
Western region of India controls the largest share in the India phosphoric acid market owing to the dominance of the region in the phosphatic fertilizer production capacity. Majority of the leading DAP and SSP fertilizer manufacturers have established production base or have plans to set up a manufacturing facility in the region. As a result, the region commands a majority share in the India phosphoric acid market and is expected to remain the largest market for phosphoric acid through 2021. East and South zone of India also control significant share in the India phosphoric acid market. However, Northern region of India controls a limited share in the India phosphoric acid market owing to limited fertilizer production facilities in the region.
India Phosphoric Acid Market: Key Players
Key players in the India Phosphoric Acid Market include Gujarat Alkalies and Chemicals Limited, Aditya Birla Management Corporation Pvt. Ltd. and Punjab Chemicals & Crop Protection Limited among others.
The report covers exhaustive analysis on:
"India Phosphoric Acid Market Forecast & Opportunities, 2021" has analyzed the potential of the India phosphoric acid market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
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