U.S.: Phosphoric Acid Market 2023

Phosphoric Acid Market Size in the U.S.

The U.S. phosphoric acid market stood at $X in 2022, increasing by 4.3% against the previous year. Over the period under review, consumption, however, saw a abrupt curtailment. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Phosphoric Acid Production in the U.S.

In value terms, phosphoric acid production expanded significantly to $X in 2022. Over the period under review, production, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2020 when the production volume increased by 22%. Phosphoric acid production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports from the U.S.

In 2022, the amount of phosphoric acid and polyphosphoric acids exported from the United States rose notably to X tons, picking up by 8.1% compared with the year before. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 108%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, phosphoric acid exports skyrocketed to $X in 2022. In general, exports, however, recorded a slight curtailment. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons), India (X tons) and Canada (X tons) were the main destinations of phosphoric acid exports from the United States, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +2.6%), while the other leaders experienced a decline.

In value terms, the largest markets for phosphoric acid exported from the United States were Canada ($X), India ($X) and Mexico ($X), together comprising 96% of total exports.

Canada, with a CAGR of +2.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average phosphoric acid export price amounted to $X per ton, picking up by 37% against the previous year. Over the period under review, the export price enjoyed a notable increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 180% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into the U.S.

For the sixth year in a row, the United States recorded growth in supplies from abroad of phosphoric acid and polyphosphoric acids, which increased by 17% to X tons in 2022. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 40% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

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

Imports by Country

Mexico (X tons), Belgium (X tons) and Israel (X tons) were the main suppliers of phosphoric acid imports to the United States, together accounting for 80% of total imports. Morocco, China, Taiwan (Chinese) and Canada lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +28.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phosphoric acid suppliers to the United States were Mexico ($X), Belgium ($X) and Israel ($X), with a combined 87% share of total imports.

In terms of the main suppliers, Israel, with a CAGR of +25.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, jumping by 57% against the previous year. In general, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.9% 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 +92.9% against 2020 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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