Egypt: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Egypt

The Egyptian phosphoric acid market rose sharply to $X in 2022, with an increase of 10% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable decline. Phosphoric acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Phosphoric Acid Production in Egypt

In value terms, phosphoric acid production rose slightly to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 with an increase of 20% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Phosphoric Acid Exports

Exports from Egypt

In 2022, shipments abroad of phosphoric acid and polyphosphoric acids decreased by -17.5% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 291% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, phosphoric acid exports expanded remarkably to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 327% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for phosphoric acid exports from Egypt, with a 58% share of total exports. Moreover, phosphoric acid exports to India exceeded the volume sent to the second major destination, Turkey (X tons), threefold. The third position in this ranking was taken by Algeria (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to India totaled +81.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+61.9% per year) and Algeria (+8.5% per year).

In value terms, India ($X) emerged as the key foreign market for phosphoric acid and polyphosphoric acids exports from Egypt, comprising 58% of total exports. The second position in the ranking was held by Turkey ($X), with an 18% share of total exports. It was followed by Algeria, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at +76.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+73.7% per year) and Algeria (+8.4% per year).

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2022, jumping by 34% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 178% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($X per ton) and Algeria ($X per ton), while the average price for exports to France ($X per ton) and Turkey ($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 Turkey (+7.2%), while the prices for the other major destinations experienced a decline.

Phosphoric Acid Imports

Imports into Egypt

In 2022, after three years of decline, there was significant growth in purchases abroad of phosphoric acid and polyphosphoric acids, when their volume increased by 107% to X tons. Over the period under review, imports, however, continue to indicate a deep downturn. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, phosphoric acid imports surged to $X in 2022. In general, imports, however, showed a perceptible slump. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest phosphoric acid supplier to Egypt, accounting for a 62% share of total imports. Moreover, phosphoric acid imports from China exceeded the figures recorded by the second-largest supplier, Jordan (X tons), threefold. The third position in this ranking was taken by Morocco (X tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (-6.1% per year) and Morocco (+49.4% per year).

In value terms, China ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Egypt, comprising 62% of total imports. The second position in the ranking was taken by Jordan ($X), with a 24% share of total imports. It was followed by Morocco, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (-3.2% per year) and Morocco (+50.0% per year).

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, jumping by 46% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phosphoric acid import price increased by +100.6% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Jordan ($X per ton) and Belgium ($X per ton), while the price for China ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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