Morocco: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Morocco

The Moroccan phosphoric acid market shrank to $X in 2022, dropping by -4.4% against the previous year. Over the period under review, consumption showed a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 1.8%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Phosphoric Acid Production in Morocco

In value terms, phosphoric acid production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13%. Phosphoric acid production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Phosphoric Acid Exports

Exports from Morocco

In 2022, the amount of phosphoric acid and polyphosphoric acids exported from Morocco rose modestly to X tons, with an increase of 2.4% against the previous year's figure. The total export volume increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 12%. The exports peaked at X tons in 2014; afterwards, it flattened through to 2022.

In value terms, phosphoric acid exports surged to $X in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), Pakistan (X tons) and Belgium (X tons) were the main destinations of phosphoric acid exports from Morocco, with a combined 77% share of total exports. Spain, Brazil, Turkey, France and the Netherlands lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +15.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Pakistan ($X) and Belgium ($X) constituted the largest markets for phosphoric acid exported from Morocco worldwide, with a combined 68% share of total exports. Spain, Brazil, Turkey, the Netherlands and France lagged somewhat behind, together comprising a further 27%.

Brazil, with a CAGR of +21.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, picking up by 69% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 +76.4% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to India ($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 Turkey (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Morocco

In 2022, approx. X tons of phosphoric acid and polyphosphoric acids were imported into Morocco; which is down by -22.9% on 2021 figures. Over the period under review, imports showed a abrupt decline. The pace of growth was the most pronounced in 2013 when imports increased by 34%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, phosphoric acid imports soared to $X in 2022. Overall, imports showed a mild descent. The pace of growth was the most pronounced in 2013 when imports increased by 151%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of phosphoric acid to Morocco, accounting for a 59% share of total imports. Moreover, phosphoric acid imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. The third position in this ranking was taken by the Netherlands (X tons), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-11.0% per year) and the Netherlands (+292.9% per year).

In value terms, Germany ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Morocco, comprising 54% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 11% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+311.6% per year) and India (+79.4% per year).

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, rising by 56% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +7.1% 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 +62.6% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 87%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :