Denmark: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Denmark

The Danish phosphoric acid market soared to $X in 2022, picking up by 85% against the previous year. Overall, consumption continues to indicate a strong expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Phosphoric Acid Production in Denmark

In value terms, phosphoric acid production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% 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 the production volume increased by 44% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports from Denmark

In 2022, exports of phosphoric acid and polyphosphoric acids from Denmark dropped markedly to X tons, waning by -49.3% on 2021 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 51%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, phosphoric acid exports declined markedly to $X in 2022. Overall, exports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 64%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for phosphoric acid exports from Denmark, with a 71% share of total exports. Moreover, phosphoric acid exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), fivefold. The third position in this ranking was taken by Ukraine (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+24.8% per year) and Ukraine (+8.4% per year).

In value terms, Sweden ($X) remains the key foreign market for phosphoric acid and polyphosphoric acids exports from Denmark, comprising 65% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 12% share of total exports. It was followed by Finland, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+8.7% per year) and Finland (+23.5% per year).

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2022, increasing by 21% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phosphoric acid export price increased by +70.5% against 2016 indices. 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Faroe Islands ($X per ton), while the average price for exports to Finland ($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 Faroe Islands (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Denmark

In 2022, approx. X tons of phosphoric acid and polyphosphoric acids were imported into Denmark; picking up by 28% on the previous year. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

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

Imports by Country

In 2022, Serbia (X tons) constituted the largest phosphoric acid supplier to Denmark, with a 58% share of total imports. Moreover, phosphoric acid imports from Serbia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from Serbia stood at +378.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.0% per year) and China (+37.5% per year).

In value terms, Belgium ($X), Serbia ($X) and China ($X) appeared to be the largest phosphoric acid suppliers to Denmark, together accounting for 77% of total imports.

In terms of the main suppliers, Serbia, with a CAGR of +357.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, rising by 80% against the previous year. In general, the import price posted resilient growth. As a result, import price attained 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 Germany ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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