Costa Rica: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in Costa Rica

In 2022, the Costa Rican sodium triphosphate market decreased by -8.4% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Sodium Triphosphate Exports

Exports from Costa Rica

After two years of growth, overseas shipments of sodium triphosphate (sodium tripolyphosphates) decreased by -19.6% to X tons in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 229% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, sodium triphosphate exports contracted dramatically to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 208%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Guatemala (X tons) was the main destination for sodium triphosphate exports from Costa Rica, with a 80% share of total exports. Moreover, sodium triphosphate exports to Guatemala exceeded the volume sent to the second major destination, El Salvador (X tons), more than tenfold. Honduras (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala totaled +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+4.2% per year) and Honduras (+3.4% per year).

In value terms, Guatemala ($X) remains the key foreign market for sodium triphosphate (sodium tripolyphosphates) exports from Costa Rica, comprising 61% of total exports. The second position in the ranking was taken by El Salvador ($X), with an 11% share of total exports. It was followed by Honduras, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala amounted to +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+8.9% per year) and Honduras (+13.8% per year).

Export Prices by Country

In 2022, the average sodium triphosphate export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by 8.1%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Mexico ($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 Honduras (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Triphosphate Imports

Imports into Costa Rica

In 2022, after two years of growth, there was significant decline in supplies from abroad of sodium triphosphate (sodium tripolyphosphates), when their volume decreased by -13.6% to X tons. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 48% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, sodium triphosphate imports declined to $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by 16%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Belgium (X tons), China (X tons) and Honduras (X tons) were the main suppliers of sodium triphosphate imports to Costa Rica, with a combined 66% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sodium triphosphate suppliers to Costa Rica were Belgium ($X), Honduras ($X) and China ($X), with a combined 66% share of total imports.

Belgium, with a CAGR of +43.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sodium triphosphate import price stood at $X per ton in 2022, with an increase of 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2017 an increase of 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Honduras ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform