Global Orthophosphoric Acid Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. Orthophosphoric acid is also known as phosphoric acid or phosphoric (V) acid, is a mineral acid with the chemical formula H₃PO₄. The factors that propel the growth of the market include increasing demand, rapid urbanization & industrialization, and product development & technological innovations.
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In addition, factors such as ever increasing population coupled with growing demand for food fuels the market growth. Also, escalating use of orthophosphoric acid for the manufacturing of fertilizers contributes to the market growth. Moreover, as a chemical reagent it acts as dental and orthopedic etchant, industrial etchant, rust inhibitor, home cleaning product, dispersing agent, etc. On the other hand, there are also factors that may hamper the growth of the market such as hazardous nature of the compound.
Orthophosphoric Acid Market is classified on the basis of product type, applications, distribution channel and geography. Orthophosphoric Acid Market is segmented by product type as food grade, medical grade, technical grade, and others. The market is classified on applications as food additive, fertilizer, chemical industry, pharmaceutical, and others. Orthophosphoric Acid Market is segmented by distribution channel as online stores, specialty stores and others.
Top Key Players Analysis covered in Orthophosphoric Acid Market Report
- ICL Food Specialties
- OCP Goup
- Vale Fertilizantes
- BK Giulini
- MP Biomedicals
- VWR International
- BOC Sciences
- Merck Schuchardt OHG
- Shanghai Macklin
Segmentation on the basis of Product Types,
- White Solid
- Colorless Viscous Liquid
Segmentation on the basis of Applications,
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Orthophosphoric Acid Industry is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand.
The Middle East and African region consists of GCC, South Africa and North Africa. In case of geographical region, Asia Pacific is anticipated to hold a large share in the Orthophosphoric Acid Market. The key factors such as rise in disposable income, growing population and increasing food demand coupled with changing food consumption patterns particularly in developing economies like China and India significantly contribute to the growth of this region.
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