Costa Rica: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Costa Rica

The Costa Rican phosphoric acid market expanded to $X in 2022, growing by 1.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Phosphoric acid consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Phosphoric Acid Exports

Exports from Costa Rica

In 2022, phosphoric acid exports from Costa Rica declined markedly to X tons, reducing by -16.7% against the previous year. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 50%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, phosphoric acid exports contracted to $X in 2022. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 66%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons), Nicaragua (X tons) and Panama (X tons) were the main destinations of phosphoric acid exports from Costa Rica, together accounting for 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of -10.3%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for phosphoric acid exported from Costa Rica were Guatemala ($X), Nicaragua ($X) and Panama ($X), with a combined 95% share of total exports.

In terms of the main countries of destination, Panama, with a CAGR of -7.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average phosphoric acid export price amounted to $X per ton, surging by 13% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 56% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were El Salvador ($X per ton) and Panama ($X per ton), while the average price for exports to Guatemala ($X per ton) and Nicaragua ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Costa Rica

In 2022, approx. X tons of phosphoric acid and polyphosphoric acids were imported into Costa Rica; surging by 1.9% on the previous year. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 30%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, phosphoric acid imports totaled $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 20%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X tons), Belgium (X tons) and the United States (X tons) were the main suppliers of phosphoric acid imports to Costa Rica, together accounting for 75% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +70.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), Belgium ($X) and the United States ($X) appeared to be the largest phosphoric acid suppliers to Costa Rica, with a combined 75% share of total imports.

In terms of the main suppliers, Brazil, with a CAGR of +73.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 7.8%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Brazil ($X per ton) and the United States ($X per ton), while the price for Belgium ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform