China: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in China

In 2021, the Chinese sodium phosphates market decreased by -85.6% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption showed a sharp reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Sodium Phosphates Production in China

In value terms, sodium phosphates production fell slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 51%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Sodium Phosphates Exports

Exports from China

In 2021, shipments abroad of phosphates of mono- or di-sodium increased by 41% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, sodium phosphates exports skyrocketed to $X in 2021. Overall, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +10.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons), the United States (X tons) and the Philippines (X tons) were the main destinations of sodium phosphates exports from China, together comprising 58% of total exports. South Korea, Indonesia, Ecuador, Pakistan, Brazil, Malaysia, Australia, Turkey and Bahrain lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Ecuador (with a CAGR of +66.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and South Korea ($X) were the largest markets for sodium phosphates exported from China worldwide, together accounting for 52% of total exports. These countries were followed by the Philippines, Indonesia, Ecuador, Pakistan, Turkey, Malaysia, Brazil, Australia and Bahrain, which together accounted for a further 31%.

Ecuador, with a CAGR of +71.9%, saw 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

The average sodium phosphates export price stood at $X per ton in 2021, increasing by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Phosphates Imports

Imports into China

In 2021, overseas purchases of phosphates of mono- or di-sodium increased by 0.8% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports saw a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by 70%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, sodium phosphates imports surged to $X in 2021. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by 69% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest sodium phosphates supplier to China, accounting for a 56% share of total imports. Moreover, sodium phosphates imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.6% per year) and the UK (+161.3% per year).

In value terms, Germany ($X) constituted the largest supplier of phosphates of mono- or di-sodium to China, comprising 73% of total imports. The second position in the ranking was held by Japan ($X), with a 9.6% share of total imports. It was followed by the United States, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.2% per year) and the United States (+8.2% per year).

Import Prices by Country

In 2021, the average sodium phosphates import price amounted to $X per ton, rising by 23% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 35%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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