Croatia: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Croatia

The Croatian phosphoric acid market skyrocketed to $X in 2022, picking up by 60% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +113.7% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Phosphoric Acid Production in Croatia

In value terms, phosphoric acid production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a resilient increase. The growth pace was the most rapid in 2013 when the production volume increased by 57%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Phosphoric Acid Exports

Exports from Croatia

In 2022, approx. X tons of phosphoric acid and polyphosphoric acids were exported from Croatia; dropping by -60% compared with 2021. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 7,503% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, phosphoric acid exports shrank notably to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 4,360%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Slovenia (X tons) was the main destination for phosphoric acid exports from Croatia, accounting for a 64% share of total exports. Moreover, phosphoric acid exports to Slovenia exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. The third position in this ranking was taken by Bosnia and Herzegovina (X tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume to Slovenia amounted to +142.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Bosnia and Herzegovina (+41.9% per year).

In value terms, Slovenia ($X) remains the key foreign market for phosphoric acid and polyphosphoric acids exports from Croatia, comprising 47% of total exports. The second position in the ranking was held by Turkey ($X), with a 23% share of total exports. It was followed by Bosnia and Herzegovina, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Slovenia totaled +92.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Bosnia and Herzegovina (+33.8% per year).

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2022, jumping by 52% against the previous year. Overall, the export price, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2013 when the average export price increased by 67% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Slovenia ($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 Albania (+12.0%), while the prices for the other major destinations experienced mixed trend patterns.

Phosphoric Acid Imports

Imports into Croatia

In 2022, imports of phosphoric acid and polyphosphoric acids into Croatia shrank to X tons, waning by -9.4% compared with the previous year. Overall, imports showed a slight reduction. The pace of growth was the most pronounced in 2018 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, phosphoric acid imports soared to $X in 2022. In general, imports, however, showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Slovenia (X tons) and the Czech Republic (X tons) were the main suppliers of phosphoric acid imports to Croatia, together accounting for 82% of total imports. Serbia, China, Austria, Turkey and Italy lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +100.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Croatia, comprising 48% of total imports. The second position in the ranking was held by Poland ($X), with a 21% share of total imports. It was followed by China, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value from Slovenia totaled +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+30.9% per year) and China (+21.4% per year).

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, with an increase of 170% against the previous year. Over the period under review, the import price enjoyed prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while the price for Poland ($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 (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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