In the Asian market, Phosphoric Acid displayed stability during the first quarter, but prices surged in the Indian market due to balanced utilization and consistent demand. However, the second quarter saw a decline as oversupply countered demand.
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Meanwhile, Europe witnessed price reductions due to lowered production costs following earlier inflation and supply chain disruptions. Paralleling this, North America experienced a downward trend due to ample inventories and constrained downstream demand throughout H1 2023.
Definition
Phosphoric Acid is a clear, colorless liquid with the chemical formula H3PO4. It is an inorganic acid used in various industries such as agriculture, food production, and chemical manufacturing. It is valued for its role in fertilizer production, food and beverage processing, and as a rust remover or cleaner in industrial applications.
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 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 chart, including India Phosphoric Acid price, USA 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 the Phosphoric Acid Price Trend:
Phosphoric Acid finds significant industrial applications, serving as a vital component in fertilizer production to enhance plant growth. It plays a pivotal role in the food and beverage industry as an acidulant, flavor enhancer, and pH regulator. Additionally, it is employed in metal cleaning, water treatment, and as a catalyst in various chemical processes.
Key Players:
- Jordan Phosphate Mines Company Plc
- Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC)
- OCP Group
- Yara International ASA
- The Mosaic Company
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