The main applications of phosphoric acid include the production of phosphates and phosphate-based fertilizers, soaps and detergents, acidification and preservation of food, soft drinks, water treatment, and toothpaste. Some other specific applications of phosphoric acid include anti-rust treatment with phosphate coating, phosphoric acid fuel cells, activated carbon production, compound semiconductors, microfabrication for silicon nitride etching, pH adjuster in skin care products, and disinfectants in the dairy industry. . Phosphoric acid also has other metallurgical functions such as cleaning some precious rare earth elements.\r\nGlobal Phosphoric Acid Market Outlook\r\nThe world economy has been affected by the COVID-19 pandemic. In several countries, several measures taken to combat the epidemic could save lives, such as quarantines, breaking trade policies, and closing many factories and workplaces. But, they have far-reaching economic consequences.\r\n\r\nIn April 2020, the International Monetary Fund (IMF) forecast a 3% contraction in global economic activity for 2020, which is more than the 2009 slowdown. The global health crisis caused by the Covid-19 pandemic is expected to affect fertilizer use in two ways: 1: its primary impact on labor and 2: its secondary impact on demand for agricultural commodities.\r\n\r\nEast, South and West Asia are the regions that are expected to experience the greatest recession. In North America, Latin America, and Europe, fertilizer use is projected to decrease on average in 2020. This situation is temporarily fixed in Africa. Despite the COVID-19 crisis, Eastern European and Central Asian countries and Oceania markets are expected to increase their fertilizer consumption.\r\n\r\nThe food supply chain has also been affected by unfavorable conditions. Although these disruptions are unlikely, government proposals have been made to help food chains and farmers. Therefore, the impact on the chemical fertilizers market due to the COVID-19 pandemic is driving the growth of the phosphoric acid market.
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