Portugal: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Portugal

The Portuguese phosphoric acid market shrank to $X in 2022, which is down by -5.7% against the previous year. In general, consumption recorded a slight shrinkage. Phosphoric acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Phosphoric Acid Production in Portugal

In value terms, phosphoric acid production stood at $X in 2022 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.7% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 18% against the previous year. Phosphoric acid production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Phosphoric Acid Exports

Exports from Portugal

In 2022, shipments abroad of phosphoric acid and polyphosphoric acids increased by 61% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports saw a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 273%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, phosphoric acid exports surged to $X in 2022. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 233% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Angola (X tons), Spain (X tons) and Poland (X tons) were the main destinations of phosphoric acid exports from Portugal, together comprising 97% 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 Angola (with a CAGR of +56.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phosphoric acid exported from Portugal were Spain ($X), Angola ($X) and Poland ($X), with a combined 94% share of total exports.

Angola, with a CAGR of +48.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average phosphoric acid export price stood at $X per ton in 2022, increasing by 51% against the previous year. In general, the export price continues to indicate a strong expansion. As a result, the export price reached 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 Cabo Verde ($X per ton), while the average price for exports to Angola ($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 Spain (+11.8%), while the prices for the other major destinations experienced mixed trend patterns.

Phosphoric Acid Imports

Imports into Portugal

In 2022, the amount of phosphoric acid and polyphosphoric acids imported into Portugal contracted dramatically to X tons, waning by -35.8% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 58% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, phosphoric acid imports stood at $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 144% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Israel (X tons), Morocco (X tons) and Spain (X tons) were the main suppliers of phosphoric acid imports to Portugal, together accounting for 94% of total imports. China and France lagged somewhat behind, together comprising a further 5.1%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +25.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phosphoric acid suppliers to Portugal were Israel ($X), Morocco ($X) and Spain ($X), with a combined 86% share of total imports. China and France lagged somewhat behind, together accounting for a further 11%.

China, with a CAGR of +28.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average phosphoric acid import price amounted to $X per ton, rising by 77% against the previous year. Overall, the import price saw a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :