Australia: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Australia

The Australian phosphoric acid market surged to $X in 2022, rising by 17% against the previous year. In general, consumption continues to indicate a mild setback. Phosphoric acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Phosphoric Acid Production in Australia

In value terms, phosphoric acid production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Phosphoric Acid Exports

Exports from Australia

Phosphoric acid exports from Australia expanded significantly to X tons in 2022, growing by 8.7% against the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 157% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, phosphoric acid exports soared to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 148%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons), Fiji (X tons) and Papua New Guinea (X tons) were the main destinations of phosphoric acid exports from Australia, with a combined 92% 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 New Zealand (with a CAGR of +18.7%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for phosphoric acid exported from Australia were New Zealand ($X), Fiji ($X) and Papua New Guinea ($X), together comprising 84% of total exports.

New Zealand, with a CAGR of +14.0%, 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

In 2022, the average phosphoric acid export price amounted to $X per ton, picking up by 71% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Papua New Guinea ($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 Canada (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Australia

In 2022, after two years of growth, there was significant decline in overseas purchases of phosphoric acid and polyphosphoric acids, when their volume decreased by -21.9% to X tons. Over the period under review, imports continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2018 when imports increased by 23% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, phosphoric acid imports soared to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest phosphoric acid supplier to Australia, accounting for a 88% share of total imports. Moreover, phosphoric acid imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+18.9% per year) and Israel (+13.4% per year).

In value terms, China ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Australia, comprising 90% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 3.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+26.0% per year) and Israel (+18.6% per year).

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, growing by 62% against the previous year. Overall, the import price continues to indicate a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) ($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 (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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