Phosphoric Acid Market Report 2026

The phosphoric acid market size has grown strongly in recent years. It will grow from $54.47 billion in 2025 to $58.2 billion in 2026 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to expansion of global fertilizer consumption, growth of food and beverage manufacturing, rising demand for industrial cleaning agents, increasing use in water treatment chemicals, availability of phosphate rock reserves.

The phosphoric acid market size is expected to see strong growth in the next few years. It will grow to $74.28 billion in 2030 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing agricultural productivity requirements, rising demand for specialty phosphate chemicals, expansion of sustainable fertilizer solutions, growing focus on water quality management, increasing adoption in pharmaceutical formulations. Major trends in the forecast period include rising demand for high-purity phosphoric acid, increasing use in fertilizer production, growing application in food and beverage processing, expansion of water treatment applications, enhanced focus on efficient phosphate processing.

The increasing demand in the food and beverage industry is expected to drive the growth of the phosphoric acid market. The food and beverage industry encompasses operations related to the production, processing, packaging, distribution, and retailing of food and drink items. Phosphoric acid is used in food and beverages to maintain the desired acidity in carbonated drinks, jams, jellies, and canned foods, enhancing taste and preservation. For instance, in April 2024, according to the National Association of Convenience Stores (NACS), a US-based trade association, total industry foodservice sales accounted for 26.9% of in-store sales in 2023, up from 25.6% in 2022, with prepared food sales increasing by 12.2% per store per month, making it the leading in-store category. Additionally, in May 2024, the 2024 Annual Report by the British Soft Drinks Association, a UK-based trade association, reported that total soft drinks consumption rose to 15.34 billion liters in 2023 from 14.91 billion liters in 2022. Therefore, the growing demand in the food and beverage industry is boosting the phosphoric acid market.

Major companies in the phosphoric acid market are focusing on innovations such as fluorinated phosphoric acid additives to enhance performance in high-efficiency photovoltaic and advanced material applications. Fluorinated phosphoric acid additives are engineered phosphoric acid derivatives that improve interfacial passivation, film quality, and device performance in next-generation solar and electronic technologies. For instance, in August 2024, researchers at Saitama University, a Japan-based national university, achieved a power conversion efficiency of 20.5% in a thin-film perovskite solar cell by incorporating fluorinated phosphoric acid (TPFP) into the absorber’s precursor solution, enhancing passivation at the interface between the perovskite film and the hole transport layer. This innovation reduces the need for traditional surface treatments and post-processing steps, improving efficiency, lowering hysteresis, and enabling potential large-area deposition techniques.

In April 2025, Jordan Phosphate Mines Company (JPMC), a Jordan-based provider of phosphate mining and phosphoric acid/raw phosphate, partnered with the government of Indonesia to establish a new phosphoric acid plant in Surabaya. The partnership aims to expand and secure long-term phosphoric acid production capacity to meet growing demand in Indonesia’s fertilizer market, effectively doubling the existing joint venture capacity and strengthening JPMC’s export footprint. The Indonesian government acts as a strategic partner in expanding domestic phosphoric acid production capabilities.

Major companies operating in the phosphoric acid market are OCP Group, The Mosaic Company, Nutrien Ltd., PhosAgro (Public Joint Stock Company PhosAgro), EuroChem Group AG, ICL Group Ltd. (Israel Chemicals Ltd.), Yara International ASA, Prayon Group (Prayon S.A.), Jordan Phosphate Mines Company plc, Ma’aden (Saudi Arabian Mining Company), Lifosa (AB Lifosa, part of EuroChem Group AG), Gujarat Alkalies and Chemicals Ltd., Innophos Holdings, Inc., Wengfu Group Co., Ltd., Yuntianhua Group Co., Ltd., Grupa Azoty S.A., CF Industries Holdings, Inc., Hubei Xingfa Chemicals Group Co., Ltd., Chengxing Group Co., Ltd., Yunphos (Yunnan Phosphate Chemical Group Co., Ltd.), Tongling Nonferrous Metals Group Chemical Branch (Tongling Chemical Industry Group), Kailin Group Co., Ltd.

Asia-Pacific was the largest region in the phosphoric acid market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phosphoric acid market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the phosphoric acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The phosphoric acid market consists of sales of hypophosphorous acid, orthophosphorous acid and pyrophosphoric acid. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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