Japan: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Japan

The Japanese phosphoric acid market rose to $X in 2022, picking up by 3.6% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Phosphoric acid consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Phosphoric Acid Production in Japan

In value terms, phosphoric acid production stood at $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 20% against the previous year. Phosphoric acid production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports from Japan

In 2022, the amount of phosphoric acid and polyphosphoric acids exported from Japan declined to X tons, which is down by -13.4% compared with the year before. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 29% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, phosphoric acid exports surged to $X in 2022. Over the period under review, exports, however, posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of phosphoric acid exports from Japan, with a combined 87% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +39.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and the United States ($X) constituted the largest markets for phosphoric acid exported from Japan worldwide, with a combined 86% share of total exports.

Among the main countries of destination, China, with a CAGR of +34.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average phosphoric acid export price amounted to $X per ton, jumping by 54% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 +58.7% against 2020 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Thailand (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Japan

In 2022, purchases abroad of phosphoric acid and polyphosphoric acids increased by 29% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, saw a perceptible decline. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphoric acid imports skyrocketed to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +139.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the main supplier of phosphoric acid to Japan, with a 95% share of total imports. Moreover, phosphoric acid imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Japan, comprising 94% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 5.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +5.3%.

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, increasing by 36% against the previous year. In general, the import price showed buoyant growth. The most prominent rate of growth was recorded in 2021 an increase of 52% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+18.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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