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Phosphoric acid, having the chemical formula H3PO4, is a colourless, odourless, and highly corrosive mineral acid.
It is a powerful acid that is widely employed in a wide range of industrial applications. Phosphoric acid is created when sulfuric acid reacts with phosphate rock or when elemental phosphorus is burned in the air.
It is a food ingredient that is often used as an acidulant and flavouring agent. It's also used to make fertiliser, detergents, and animal feed additions.
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Furthermore, phosphoric acid is employed as a reagent in laboratory applications such as buffer solution preparation and organic chemical synthesis. It is also used in the electronics industry for silicon wafer etching.
The top phosphoric acid-producing countries are Morocco, China, Jordan, Israel, and Senegal.
Key Details About the Phosphoric Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Phosphoric Acid price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Phosphoric Acid Price Trend, chart, including India’s Phosphoric Acid price, USA’s Phosphoric Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Phosphoric Acid Price Trend:
Phosphoric acid is widely used as a food ingredient and acts as an acidity regulator in items such as jams, cereal bars, processed meats, cheese, and so on. It's also used as an acidulant in the beverage sector.
It is one of many acids that are commonly used to eliminate rust from metals such as iron and steel. When this acid is used normally, it reacts with rust, converting the reddish-brown iron, which is usually ferric oxide (iron oxide), into a black material known as ferric phosphate. This black ferric phosphate substance is easily removed.
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It is critical in the manufacture and synthesis of a wide range of personal care products. Skincare, cosmetics, nail care products, fragrances, bath products, and cleansing products are among them. However, phosphoric acid is also used to control the PH level of these products.
It is also used as an addition and flavouring ingredient in animal and poultry feed.
Key Market Players:
- Jordan Phosphate Mines Company Plc,
- Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC),
- OCP Group,
- Yara International ASA,
- The Mosaic Company
News and Events:
- October 03, 2022: Fertiliser firms purchased phosphoric acid for more than USD 1,000-1,050 per tonne, which was almost 40% cheaper than the price reported by overseas suppliers. This is related to a drop in global prices. Phosphoric acid, a critical raw ingredient for the production of DAP (di-ammonium phosphate) and other NPK fertilisers, was negotiated between Indian firms and international suppliers.
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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