Eastern Europe: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Eastern Europe

The East European phosphoric acid market fell modestly to $X in 2022, which is down by -1.7% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +3.0% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Phosphoric Acid Production in Eastern Europe

In value terms, phosphoric acid production fell to $X in 2022 estimated in export price. In general, production posted a tangible increase. The pace of growth appeared the most rapid in 2017 with an increase of 42% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports in Eastern Europe

In 2022, approx. X tons of phosphoric acid and polyphosphoric acids were exported in Eastern Europe; dropping by -24.9% on the previous year. Total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 59%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped dramatically in the following year.

In value terms, phosphoric acid exports shrank rapidly to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

In 2022, the Czech Republic (X tons) was the main exporter of phosphoric acid and polyphosphoric acids, making up 66% of total exports. It was distantly followed by Poland (X tons), mixing up a 28% share of total exports. Hungary (X tons) and Russia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to phosphoric acid exports from the Czech Republic stood at +4.7%. At the same time, Hungary (+130.2%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +130.2% from 2012-2022. By contrast, Poland (-1.8%) and Russia (-7.2%) illustrated a downward trend over the same period. The Czech Republic (+13 p.p.) and Hungary (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Russia and Poland saw its share reduced by -2.9% and -14.5% from 2012 to 2022, respectively.

In value terms, Poland ($X) remains the largest phosphoric acid supplier in Eastern Europe, comprising 71% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 22% share of total exports. It was followed by Hungary, with a 2.4% share.

In Poland, phosphoric acid exports increased at an average annual rate of +8.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (-6.0% per year) and Hungary (+89.2% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, reducing by -11% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 17%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+10.0%), while the other leaders experienced mixed trends in the export price figures.

Phosphoric Acid Imports

Imports in Eastern Europe

In 2022, the amount of phosphoric acid and polyphosphoric acids imported in Eastern Europe shrank modestly to X tons, almost unchanged from 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 58%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

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

Imports by Country

Poland (X tons) and Russia (X tons) represented roughly 64% of total imports in 2022. It was distantly followed by Hungary (X tons), Ukraine (X tons), the Czech Republic (X tons) and Romania (X tons), together generating a 24% share of total imports. Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +13.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phosphoric acid importing markets in Eastern Europe were Poland ($X), Russia ($X) and Hungary ($X), together accounting for 59% of total imports. The Czech Republic, Romania, Ukraine and Bulgaria lagged somewhat behind, together comprising a further 30%.

Romania, with a CAGR of +19.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, rising by 75% against the previous year. In general, the import price continues to indicate a resilient increase. 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 importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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