India - Phosphoric Acid and Polyphosphoric Acids - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPhosphoric Acid Imports to India Drop Sharply to $2.5 Billion in 2023
India Phosphoric Acid Imports
In 2023, the amount of phosphoric acid and polyphosphoric acids imported into India reduced to 2.4M tons, shrinking by -3.3% against 2022. Overall, imports, however, saw a notable increase. The most prominent rate of growth was recorded in 2021 with an increase of 172% against the previous year. As a result, imports attained the peak of 6.6M tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, phosphoric acid imports fell markedly to $2.5B (IndexBox estimates) in 2023. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2022 with an increase of 52% against the previous year. As a result, imports reached the peak of $3.5B, and then dropped rapidly in the following year.
| COUNTRY | Import Value of Phosphoric Acid in India (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Jordan | N/A | 79.6 | 223 | 304 | 371 | 382 | 445 | 391 | 606 | 967 | 666 |
| Morocco | 731 | 661 | 817 | 578 | 514 | 577 | 765 | 539 | 845 | 666 | 527 |
| Senegal | 89.0 | 119 | 151 | 249 | 455 | 519 | 386 | 321 | 445 | 1,168 | 499 |
| Tunisia | 62.0 | 125 | 73.4 | 111 | 67.1 | 102 | 110 | 83.8 | 195 | 229 | 214 |
| China | 11.4 | 7.7 | 6.2 | 7.8 | 6.8 | 8.7 | 5.4 | 7.6 | 6.9 | 13.7 | 115 |
| United States | 213 | 175 | 141 | 160 | 95.8 | 136 | 115 | 66.8 | 80.2 | 129 | 103 |
| South Africa | 83.8 | 25.3 | 26.2 | 39.5 | 69.1 | 45.3 | 40.8 | 24.7 | 35.7 | 76.0 | 92.2 |
| Vietnam | 0.7 | 7.8 | 72.5 | 68.2 | 57.0 | 64.5 | 48.2 | 37.4 | 50.4 | 65.2 | 87.8 |
| Others | 167 | 46.7 | 63.4 | 78.7 | 36.3 | 27.6 | 16.2 | 78.5 | 64.6 | 224 | 158 |
| Total | 1,358 | 1,247 | 1,574 | 1,596 | 1,672 | 1,863 | 1,932 | 1,550 | 2,328 | 3,539 | 2,461 |
Imports by Country
Jordan (657K tons), Morocco (540K tons) and Senegal (489K tons) were the main suppliers of phosphoric acid imports to India, together accounting for 70% of total imports. Tunisia, Vietnam, the United States, South Africa and China lagged somewhat behind, together comprising a further 23%.
From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +69.2%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest phosphoric acid suppliers to India were Jordan ($666M), Morocco ($527M) and Senegal ($499M), with a combined 69% share of total imports. Tunisia, China, the United States, South Africa and Vietnam lagged somewhat behind, together accounting for a further 25%.
Vietnam, with a CAGR of +63.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the phosphoric acid price amounted to $1,025 per ton (CIF, India), shrinking by -28.1% against the previous year. Over the period under review, the import price, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2022 an increase of 307%. As a result, import price reached the peak level of $1,426 per ton, and then shrank dramatically in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Tunisia ($1,053 per ton) and South Africa ($1,050 per ton), while the price for Vietnam ($715 per ton) and Morocco ($975 per ton) were amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the phosphoric acid market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20132455 - Phosphoric acid and polyphosphoric acids
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
