CIS: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in CIS

The CIS phosphoric acid market declined to $X in 2022, dropping by -2.5% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Phosphoric Acid Production in CIS

In value terms, phosphoric acid production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded pronounced growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 42% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Phosphoric Acid Exports

Exports in CIS

In 2022, overseas shipments of phosphoric acid and polyphosphoric acids increased by 1.3% to X tons, rising for the fifth year in a row after three years of decline. Overall, exports posted temperate growth. The growth pace was the most rapid in 2013 with an increase of 226% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, phosphoric acid exports amounted to $X in 2022. Over the period under review, exports saw a tangible expansion. The pace of growth appeared the most rapid in 2013 with an increase of 112%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan prevails in exports structure, reaching X tons, which was approx. 89% of total exports in 2022. It was distantly followed by Russia (X tons), achieving a 9.1% share of total exports. Kyrgyzstan (X tons) followed a long way behind the leaders.

Exports from Kazakhstan increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, Kyrgyzstan (+24.1%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +24.1% from 2012-2022. By contrast, Russia (-7.2%) illustrated a downward trend over the same period. Kazakhstan (+17 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -18.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) remains the largest phosphoric acid supplier in the CIS, comprising 88% of total exports. The second position in the ranking was taken by Russia ($X), with a 10% share of total exports.

In Kazakhstan, phosphoric acid exports expanded at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (-5.6% per year) and Kyrgyzstan (+13.8% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, stabilizing at the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 32% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+1.7%), while the other leaders experienced a decline in the export price figures.

Phosphoric Acid Imports

Imports in CIS

For the third consecutive year, the CIS recorded growth in overseas purchases of phosphoric acid and polyphosphoric acids, which increased by 1.5% to X tons in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +5.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, phosphoric acid imports expanded to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +13.4% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 28%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Russia dominates imports structure, amounting to X tons, which was near 80% of total imports in 2022. Uzbekistan (X tons) took the second position in the ranking, followed by Belarus (X tons). All these countries together held approx. 15% share of total imports. The following importers - Kazakhstan (X tons) and Azerbaijan (X tons) - each amounted to a 3.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to phosphoric acid imports into Russia stood at +3.7%. At the same time, Uzbekistan (+54.0%), Azerbaijan (+26.9%) and Kazakhstan (+4.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +54.0% from 2012-2022. By contrast, Belarus (-4.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan increased by +9.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported phosphoric acid and polyphosphoric acids in the CIS, comprising 74% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 9.1% share of total imports. It was followed by Belarus, with an 8.7% share.

In Russia, phosphoric acid imports expanded at an average annual rate of +3.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (+68.4% per year) and Belarus (-0.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 8.9%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain 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 Azerbaijan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+8.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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