Serbia: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in Serbia

For the eighth year in a row, the Serbian phosphoric acid market recorded decline in sales value, which decreased by -10.8% to $X in 2022. Over the period under review, consumption continues to indicate a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Phosphoric Acid Production in Serbia

In value terms, phosphoric acid production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 31% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Phosphoric Acid Exports

Exports from Serbia

For the eighth consecutive year, Serbia recorded growth in shipments abroad of phosphoric acid and polyphosphoric acids, which increased by 7.6% to X tons in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2016 with an increase of 1,664%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, phosphoric acid exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. The growth pace was the most rapid in 2016 when exports increased by 1,718% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Slovenia (X tons) was the main destination for phosphoric acid exports from Serbia, with a 41% share of total exports. Moreover, phosphoric acid exports to Slovenia exceeded the volume sent to the second major destination, Austria (X tons), threefold. The third position in this ranking was held by Romania (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to Slovenia totaled +60.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+70.3% per year) and Romania (+166.4% per year).

In value terms, Slovenia ($X) remains the key foreign market for phosphoric acid and polyphosphoric acids exports from Serbia, comprising 38% of total exports. The second position in the ranking was taken by Germany ($X), with an 11% share of total exports. It was followed by Austria, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovenia amounted to +73.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+201.0% per year) and Austria (+91.1% per year).

Export Prices by Country

In 2022, the average phosphoric acid export price amounted to $X per ton, jumping by 89% against the previous year. Overall, the export price, however, recorded a noticeable setback. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Romania ($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 Hungary (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into Serbia

In 2022, supplies from abroad of phosphoric acid and polyphosphoric acids increased by 7.5% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2021 when imports increased by 22%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, phosphoric acid imports soared to $X in 2022. Over the period under review, imports posted moderate growth. 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) constituted the largest phosphoric acid supplier to Serbia, accounting for a 43% share of total imports. Moreover, phosphoric acid imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by Slovenia (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.6% per year) and Slovenia (+9.9% per year).

In value terms, China ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to Serbia, comprising 49% of total imports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total imports. It was followed by Israel, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +40.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+16.1% per year) and Israel (+33.5% per year).

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, jumping by 113% against the previous year. Overall, the import price posted prominent growth. 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 Poland ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform