Asia: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Asia

The Asian phosphoric acid market dropped to $X in 2022, reducing by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Phosphoric Acid Production in Asia

In value terms, phosphoric acid production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

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Phosphoric Acid Exports

Exports in Asia

In 2022, overseas shipments of phosphoric acid and polyphosphoric acids decreased by X% to X tons, falling for the second consecutive year after two years of growth. Total exports indicated a measured 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, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, phosphoric acid exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) and Israel (X tons) represented the major exporters of phosphoric acid and polyphosphoric acids in 2022, accounting for near X% and X% of total exports, respectively. Jordan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Lebanon (X%). Vietnam (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Israel ($X) and Jordan ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Lebanon, Vietnam, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated a strong increase 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 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 leaders experienced more modest paces of growth.

Phosphoric Acid Imports

Imports in Asia

Phosphoric acid imports reduced dramatically to X tons in 2022, with a decrease of X% compared with the previous year's figure. Over the period under review, imports, however, recorded slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

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

Imports by Country

India represented the key importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by Pakistan (X tons) and Turkey (X tons), together creating a X% share of total imports. The following importers - Thailand (X tons), South Korea (X tons), Jordan (X tons) and Bangladesh (X tons) - each finished at a X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Jordan (X%), Pakistan (X%), Bangladesh (X%), Thailand (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. South Korea experienced a relatively flat trend pattern. While the share of Pakistan (X p.p.), India (X p.p.) and Jordan (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported phosphoric acid and polyphosphoric acids in Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and Turkey (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price continues to indicate a moderate expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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