MENA: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in MENA

In 2022, the MENA's phosphoric acid market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Phosphoric Acid Production in MENA

In value terms, phosphoric acid production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Phosphoric Acid Exports

Exports in MENA

In 2022, phosphoric acid exports in MENA shrank to X tons, with a decrease of X% against 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, phosphoric acid exports surged to $X in 2022. Total exports indicated tangible 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 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Morocco (X tons) represented the main exporter of phosphoric acid and polyphosphoric acids, making up X% of total exports. It was distantly followed by Israel (X tons), Tunisia (X tons) and Jordan (X tons), together mixing up a X% share of total exports. Lebanon (X tons) held a relatively small share of total exports.

Exports from Morocco increased at an average annual rate of X% from 2012 to 2022. At the same time, Israel (X%), Lebanon (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Tunisia (X%) illustrated a downward trend over the same period. Israel (X p.p.) significantly strengthened its position in terms of the total exports, while Tunisia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Morocco amounted to X%. In the other countries, the average annual rates were as follows: Israel (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, surging by X% against the previous year. Export price indicated notable 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 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 MENA

In 2022, phosphoric acid imports in MENA declined to X tons, falling by X% compared with the year before. In general, imports recorded a mild downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphoric acid imports skyrocketed to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Turkey represented the major importing country with an import of about X tons, which accounted for X% of total imports. Jordan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (X%). The following importers - Egypt (X tons) and the United Arab Emirates (X tons) - each finished at a X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Jordan (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%), Egypt (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Jordan (X p.p.) significantly strengthened its position in terms of the total imports, while Egypt and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Jordan (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated slight 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 import price increased by X% against 2018 indices. As a result, import 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 importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Jordan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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