Phosphoric Acid Procurement Research – Market Trends and Spend Analysis by SpendEdge

LONDON–(BUSINESS WIRE)–#acid–Global procurement intelligence advisory firm, SpendEdge,
has announced the release of their ‘Phosphoric
Acid Market Procurement Research Report.’ The insights and data
in this report provide a strategic analysis of the supply markets,
factors influencing purchasing decisions, procurement best practices,
pricing models, supplier landscape, and an analysis of the supplier
capability matrix for the chemicals
industry. This report breaks down the data and analysis behind
the procurement of phosphoric acid and acts as an all-inclusive guide
for making smart purchasing decisions.

“The fertilizer industry is a major end-user of phosphoric acid, due
to its usage in manufacturing phosphate-based fertilizers such as MAP,
DAP, and TSP,” says SpendEdge procurement analyst Anil Seth. “Also, the
global demand for phosphoric acid is expected to register minimal growth
during the forecast period due to the oversupply of phosphoric acid
globally,” added Anil.

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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global
Phosphoric Acid Market:

• Growing emphasis on optimizing fertilizer usage
• Increase in production capacity of phosphoric acid
• The rise in vertical integration in the phosphoric acid industry

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Growing emphasis on optimizing fertilizer usage:

Agro commodities manufacturers are increasingly optimizing their
fertilizer use to reduce damage to crops from fertilizer toxicity.
Moreover, the regulations enacted by governments across the globe along
with the growing consumer demand for high-quality, non-toxic food
products have resulted in increased emphasis on optimization of
fertilizer use. Also, optimizing fertilizer usage helps the buyers in
eliminating toxicity from the soil as well as the crops.

Increase in production capacity of phosphoric acid:

To meet the expected demand volume for phosphoric acid over the forecast
period, several suppliers in this market space have started establishing
new production facilities to increase their production capacities of
phosphoric acid and subsequently phosphate-based fertilizers. The
increase in production capacity will lead to higher supply volumes which
in turn will increase the supply of phosphoric acid, resulting in the
reduction of prices.

The rise in vertical integration in phosphoric acid industry:

There is an increase in vertical integration among suppliers of
phosphoric acid in order to reduce their dependence on third-party
vendors. Implementing vertical integration also helps suppliers in
ensuring consistency in the supply of raw materials due to the
limitation pertaining to the sourcing of phosphate reserves. Moreover,
vertical integration offers a higher assurance of supply to the buyers
of phosphate-based fertilizers.

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professionals make informed decisions. These innovative procurement
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Contacts

SpendEdge
Shilpa Balakrishnan
US: +1 (844) 746-0600
hello@spendedge.com