Eastern Asia: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Eastern Asia

The East Asian phosphoric acid market declined to $X in 2022, stabilizing at the previous year. In general, consumption saw a slight decline. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Phosphoric Acid Production in Eastern Asia

In value terms, phosphoric acid production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports in Eastern Asia

In 2022, after three years of decline, there was significant growth in overseas shipments of phosphoric acid and polyphosphoric acids, when their volume increased by X% to X tons. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, phosphoric acid exports skyrocketed to $X in 2022. In general, exports recorded a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2022. South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) held a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of phosphoric acid and polyphosphoric acids. At the same time, Japan (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea experienced a relatively flat trend pattern. From 2012 to 2022, the share of China decreased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest phosphoric acid supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

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

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price saw a prominent expansion. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady 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 Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Phosphoric Acid Imports

Imports in Eastern Asia

Phosphoric acid imports reduced slightly to X tons in 2022, standing approx. at 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, phosphoric acid imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons) and Taiwan (Chinese) (X tons) represented roughly X% of total imports in 2022. Japan (X tons) held the next position in the ranking, distantly followed by China (X tons). All these countries together took near X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, South Korea ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. 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 China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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