Northern America: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Northern America

The North American phosphoric acid market rose sharply to $X in 2022, surging by 5.5% against the previous year. Over the period under review, consumption, however, recorded a abrupt decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Phosphoric Acid Production in Northern America

In value terms, phosphoric acid production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 22% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Phosphoric Acid Exports

Exports in Northern America

In 2022, exports of phosphoric acid and polyphosphoric acids in Northern America rose markedly to X tons, increasing by 8.5% against 2021 figures. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 108% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, phosphoric acid exports soared to $X in 2022. In general, exports, however, continue to indicate a mild curtailment. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of phosphoric acid and polyphosphoric acids, namely the United States, represented more than two-thirds of total export.

The United States was also the fastest-growing in terms of the phosphoric acid and polyphosphoric acids exports, with a CAGR of -5.1% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest phosphoric acid supplier in Northern America.

In the United States, phosphoric acid exports shrank by an average annual rate of -1.4% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by 37% against the previous year. Overall, the export price saw a tangible expansion. The most prominent rate of growth was recorded in 2014 an increase of 179% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.9% per year.

Phosphoric Acid Imports

Imports in Northern America

For the sixth consecutive year, Northern America recorded growth in overseas purchases of phosphoric acid and polyphosphoric acids, which increased by 10% to X tons in 2022. Total imports indicated buoyant growth from 2012 to 2022: its volume 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, imports increased by +64.0% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, phosphoric acid imports soared to $X in 2022. Over the period under review, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the main importing country with an import of around X tons, which amounted to 73% of total imports. It was distantly followed by Canada (X tons), creating a 27% share of total imports.

The United States was also the fastest-growing in terms of the phosphoric acid and polyphosphoric acids imports, with a CAGR of +11.9% from 2012 to 2022. Canada experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United States increased by +26 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported phosphoric acid and polyphosphoric acids in Northern America, comprising 71% of total imports. The second position in the ranking was held by Canada ($X), with a 29% share of total imports.

In the United States, phosphoric acid imports increased at an average annual rate of +14.0% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, increasing by 46% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.0% 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 +80.3% against 2020 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 importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.5%).

Source: IndexBox Platform

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