Global Phosphoric Acid Market 2024

Phosphoric Acid Market Size

The global phosphoric acid market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Phosphoric Acid Production

In value terms, phosphoric acid production totaled $X in 2022 estimated in export price. In general, production, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Phosphoric Acid Exports

Exports

Global phosphoric acid exports rose modestly to X tons in 2022, with an increase of X% on 2021 figures. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The global exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, phosphoric acid exports soared to $X in 2022. Overall, total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Morocco represented the key exporter of phosphoric acid and polyphosphoric acids in the world, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. The United States (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by China (X%), Senegal (X%), Israel (X%), Mexico (X%) and Belgium (X%). Tunisia (X tons), Jordan (X tons), the Netherlands (X tons), South Africa (X tons) and Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to phosphoric acid exports from Morocco stood at X%. At the same time, Mexico (X%), Belgium (X%), the Netherlands (X%), Israel (X%), Senegal (X%), Lebanon (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. China experienced a relatively flat trend pattern. By contrast, Tunisia (X%), the United States (X%) and South Africa (X%) illustrated a downward trend over the same period. Mexico (X p.p.), Israel (X p.p.), Senegal (X p.p.) and Belgium (X p.p.) significantly strengthened its position in terms of the global exports, while Tunisia, South Africa and the United States saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) remains the largest phosphoric acid supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by China ($X), with a X% share of global exports. It was followed by Israel, with a X% share.

In Morocco, phosphoric acid exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the average phosphoric acid export price amounted to $X per ton, picking up by X% against the previous year. In general, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phosphoric acid export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other global leaders experienced more modest paces of growth.

Phosphoric Acid Imports

Imports

Global phosphoric acid imports contracted remarkably to X tons in 2022, declining by X% on 2021 figures. Over the period under review, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, phosphoric acid imports surged to $X in 2022. In general, imports, however, posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the largest importing country with an import of about X tons, which recorded X% of total imports. Pakistan (X tons) took the second position in the ranking, followed by the United States (X tons), Belgium (X tons), the Netherlands (X tons) and Turkey (X tons). All these countries together took approx. X% share of total imports. Spain (X tons), France (X tons), Brazil (X tons), Germany (X tons), Free Zones (X tons), Canada (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to phosphoric acid imports into India stood at X%. At the same time, Free Zones (X%), the United States (X%), Pakistan (X%), Belgium (X%), Germany (X%), the Netherlands (X%), Brazil (X%), Turkey (X%) and Italy (X%) displayed positive paces of growth. Moreover, Free Zones emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Canada experienced a relatively flat trend pattern. By contrast, France (X%) and Spain (X%) illustrated a downward trend over the same period. While the share of Pakistan (X p.p.), the United States (X p.p.), India (X p.p.), Free Zones (X p.p.) and Belgium (X p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Spain (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported phosphoric acid and polyphosphoric acids worldwide, comprising X% of global imports. The second position in the ranking was taken by Pakistan ($X), with an X% share of global imports. It was followed by the United States, with a X% share.

In India, phosphoric acid imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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