Lithuania: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Lithuania

The Lithuanian phosphoric acid market surged to $X in 2022, rising by 49% against the previous year. Overall, consumption, however, posted a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Phosphoric Acid Production in Lithuania

In value terms, phosphoric acid production contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The growth pace was the most rapid in 2017 when the production volume increased by 19% against the previous year. Phosphoric acid production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports from Lithuania

In 2022, shipments abroad of phosphoric acid and polyphosphoric acids decreased by -30.4% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 186%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, phosphoric acid exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2018 when exports increased by 141%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Slovakia (X tons), Latvia (X tons) and Estonia (X tons) were the main destinations of phosphoric acid exports from Lithuania, with a combined 74% share of total exports. Belarus, Ukraine, the Netherlands, Finland and Russia lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +105.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phosphoric acid exported from Lithuania were Latvia ($X), Slovakia ($X) and Belarus ($X), with a combined 67% share of total exports. Estonia, Ukraine, the Netherlands, Russia and Finland lagged somewhat behind, together accounting for a further 28%.

Among the main countries of destination, Ukraine, with a CAGR of +112.0%, recorded the highest growth rate of 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, increasing by 89% against the previous year. Overall, the export price saw strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Estonia ($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 the Netherlands (+242.0%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Lithuania

After six years of growth, purchases abroad of phosphoric acid and polyphosphoric acids decreased by -8.2% to X tons in 2022. Overall, imports, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

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

Imports by Country

In 2022, China (X tons) constituted the largest phosphoric acid supplier to Lithuania, with a 37% share of total imports. Moreover, phosphoric acid imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was held by Kazakhstan (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-10.3% per year) and Kazakhstan (0.0% per year).

In value terms, China ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Lithuania, comprising 36% of total imports. The second position in the ranking was held by Poland ($X), with a 16% share of total imports. It was followed by Turkey, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +51.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-1.7% per year) and Turkey (0.0% per year).

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, picking up by 108% against the previous year. In general, the import price posted a resilient expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Kazakhstan ($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 (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform