The industrial grade phosphoric acid market encompasses the manufacturing and distribution of the acid for the fertilizers, food additives, and chemical synthesis industries. The global expansion of the agriculture sector, driven by higher demand in the food and beverage market, is pushing growth.
A push for environmentally sustainable compounds has raised concerns about phosphate pollution. This has led to stricter government regulations around phosphoric acid manufacturing for industrial use. This is driving up prices and restricting market expansion. Despite these issues, there are several opportunities for growth in the sector, including the rising preference for bio-based fertilizers and advanced technologies mitigating the environmental impact of the acid. Emerging markets in Africa and the Asia Pacific are also expected to drive future growth in the industrial grade phosphoric acid market.
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