United Kingdom: Phosphoric Acid Market 2024

Phosphoric Acid Market Size in the UK

In 2022, after three years of decline, there was significant growth in the UK phosphoric acid market, when its value increased by 15% to $X. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Phosphoric Acid Production in the UK

In value terms, phosphoric acid production dropped to $X in 2022 estimated in export price. In general, production saw a perceptible curtailment. The growth pace was the most rapid in 2013 with an increase of 41%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Phosphoric Acid Exports

Exports from the UK

In 2022, phosphoric acid exports from the UK soared to X tons, growing by 20% against 2021. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 269%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, phosphoric acid exports soared to $X in 2022. In general, exports saw significant growth. The pace of growth was the most pronounced in 2019 with an increase of 195% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Ireland (X tons) was the main destination for phosphoric acid exports from the UK, accounting for a 75% share of total exports. Moreover, phosphoric acid exports to Ireland exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Germany (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume to Ireland stood at +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+0.3% per year) and Germany (-0.1% per year).

In value terms, Ireland ($X) remains the key foreign market for phosphoric acid and polyphosphoric acids exports from the UK, comprising 72% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 5.6% share of total exports. It was followed by Germany, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland amounted to +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+17.8% per year) and Germany (+9.8% per year).

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2022, picking up by 81% against the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.1% 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 +116.5% against 2019 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to India ($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 the Netherlands (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphoric Acid Imports

Imports into the UK

In 2022, overseas purchases of phosphoric acid and polyphosphoric acids decreased by -20.4% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports recorded a noticeable decrease. The growth pace was the most rapid in 2014 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, phosphoric acid imports skyrocketed to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +77.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Israel (X tons), Belgium (X tons) and China (X tons) were the main suppliers of phosphoric acid imports to the UK, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +23.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Israel ($X) constituted the largest supplier of phosphoric acid and polyphosphoric acids to the UK, comprising 71% of total imports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total imports. It was followed by China, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from Israel amounted to +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.9% per year) and China (-15.9% per year).

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2022, rising by 109% against the previous year. Over the period under review, 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 ($X per ton), while the price for Belgium ($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 (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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