Belgium: Phosphoric Acid Market 2022

Phosphoric Acid Market Size in Belgium

The Belgian phosphoric acid market surged to $X in 2021, rising by 59% against the previous year. Over the period under review, consumption continues to indicate a tangible increase. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Phosphoric Acid Production in Belgium

In value terms, phosphoric acid production shrank to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 95% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Phosphoric Acid Exports

Exports from Belgium

In 2021, approx. X tons of phosphoric acid and polyphosphoric acids were exported from Belgium; growing by 5.8% compared with the year before. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +11.1% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 60%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, phosphoric acid exports surged to $X in 2021. The total export value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of phosphoric acid exports from Belgium, with a combined 63% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +15.8%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Germany ($X) were the largest markets for phosphoric acid exported from Belgium worldwide, together comprising 61% of total exports.

The Netherlands, with a CAGR of +11.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2021, rising by 20% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the highest price was recorded for prices to Ireland ($X per ton) and Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-1.1%), while the prices for the other major destinations experienced a decline.

Phosphoric Acid Imports

Imports into Belgium

For the third year in a row, Belgium recorded growth in supplies from abroad of phosphoric acid and polyphosphoric acids, which increased by 14% to X tons in 2021. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.9% against 2015 indices. The pace of growth appeared the most rapid in 2015 with an increase of 49%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, phosphoric acid imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Morocco (X tons) constituted the largest supplier of phosphoric acid to Belgium, accounting for a 82% share of total imports. Moreover, phosphoric acid imports from Morocco exceeded the figures recorded by the second-largest supplier, South Africa (X tons), ninefold. The third position in this ranking was held by Finland (X tons), with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from Morocco stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+17.6% per year) and Finland (+109.0% per year).

In value terms, Morocco ($X) constituted the largest supplier of phosphoric acid to Belgium, comprising 83% of total imports. The second position in the ranking was taken by South Africa ($X), with a 7.3% share of total imports. It was followed by Finland, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from Morocco totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+10.4% per year) and Finland (+91.5% per year).

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2021, increasing by 36% against the previous year. Overall, the import price, however, continues to indicate a drastic downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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