Phosphoric Acid Price Trend

Phosphoric Acid Prices December 2023

The price of phosphoric acid in the USA for Q4 2023 reached 1050 USD/MT in December. Throughout the fourth quarter of 2023, there was a noticeable downward trend in its price. This decline was initially attributed to cutbacks in the cost of phosphate rock sourced in the country as well as diminished demand from downstream industries.

The price of phosphoric acid in China reached 981 USD/MT in December 2023. In line with this, concerns regarding the dependability of the world’s primary fertilizer exporter have stimulated fertilizer buyers across regions to adopt alternative sources actively. Moreover, the downstream industry in China has noticed a declaration in both diammonium phosphate (DAP) and monoammonium phosphate (MAP) sales in recent months, accompanied by a fall in domestic production, leading to a decline in phosphoric acid prices.

Besides this, in Germany, phosphoric acid reached 1275 USD/MT. With limited product availability and strong trading dynamics, the price of phosphoric acid in Germany increased, specifically for the production of DAP and MAP.

Phosphoric Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Phosphoric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of phosphoric acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of phosphoric acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of phosphoric acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing phosphoric acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Phosphoric Acid Market Analysis

The global phosphoric acid market size reached US$ 46.8 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 68.4 Billion, at a projected CAGR of 4.30% during 2023-2032.

• Phosphoric acid is an essential ingredient in fertilizer and is widely utilized in modern agricultural practices to enhance crop yield and quality thereby the increasing global population and growing demand for food is aiding the market growth.
• Stringent environmental regulations push industries towards cleaner production methods and sustainable practices thus bolstering the market growth. In addition to these regulations, the manufacturers dealing in the phosphoric acid industry are investing in waste management and cleaner technologies, encouraging the market potential to grow.
• Phosphoric acid exhibits a strong acidic nature and is employed as a cleaning agent in various industrial processes. It effectively removes mineral deposits, scale, and rust from surfaces and equipment in industries such as electronic manufacturing, water treatment, and metal working is strengthening the market growth.
• In line with this, phosphoric acid is highly corrosive in concentrated form, which also makes it appropriate for industrial applications such as rust removal and metal cleaning, providing an impetus to the market growth.
• Ongoing technological advancements in phosphoric acid production processes in terms of efficiency and cost reductions, along with innovations in extraction methods, such as solvent extraction and wet process techniques are aiding in market expansion. These developments help streamline production while minimizing resource usage and environmental footprint, propelling the market forward.
• Furthermore, the increasing demand from the pharmaceutical sector, where phosphoric acid is utilized in dental products such as mouthwashes and toothpaste for its ability to remove plaque and stains from teeth is creating a positive outlook for market expansion.
• Apart from this, the widespread product utilization as a preservative and acidulant in the food industry to extend the shelf life of certain products like canned foods, jams, and processed meats by controlling pH levels and preventing the growth of microorganisms, is presenting lucrative opportunities for market expansion.

Phosphoric Acid News

The report covers the latest developments, updates, and trends impacting the global phosphoric acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in phosphoric acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the phosphoric acid price trend.

Latest developments in the phosphoric acid industry:

• In October 2020, ICL signed an agreement to acquire Fertilaqua, a prominent Brazilian company in the plant nutrition industry. This acquisition showcases ICL's strategic move to expand its presence and offerings in the agriculture industry, particularly in Brazil enhancing its position in the lucrative specialty plant nutrition market.
• In August 2020, EMAPHOS launched a new facility to produce purified phosphoric acid. The company expects to double its production capacity with a new plant with a target to reach 2,80,000 tons of annual output by 2022. The expansion will position EMAPHOS as leaders in purified wet process phosphoric acid production, aligning with market shifts and emphasizing downstream integration for high-value-added products.

Product Description

Phosphoric acid, also known as orthophosphoric acid, is a colorless, odorless liquid with a syrup consistency. It is manufactured to high purity standards, ranging from 75% to 85% concentrations. This ensures optimal implementation and versatility across various industrial applications.

Phosphoric acid is employed in various industries such as electronics, water treatment, pharmaceuticals, food and beverage (F&B) and agriculture owing to its chemical properties. Moreover, it is a major ingredient in the development of fertilizers, providing plants with the necessary nutrients required to grow.

Furthermore, it is widely utilized as a flavor enhancer and a preservative in F&B industry. Alongside, it provides a tangy flavor to carbonated drinks and regulates pH level in processed food thereby helping fast food last longer.

Additionally, phosphoric acid serves as an effective cleaner and metal surface treatment agent owing to its strong acidic properties. It is utilized in a variety of industrial processes such as metal fabrication, automotive industry, and electronic manufacturing for rust removal, surface etching and descaling.

Regional Coverage

The report provides a detailed analysis of the phosphoric acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the phosphoric acid price trend.

Global Phosphoric Acid Price

The report offers a holistic view of the global phosphoric acid pricing trends in the form of phosphoric acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of phosphoric acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed phosphoric acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Phosphoric Acid Price

The European region experiences a rise in the Q4 of 2024 owing to increasing demand from the fertilizer industry and F&B industry. Alongside, frequent changes in cost and high shipping prices have contributed to the increase in price in the market. Geopolitical conflicts and sanctions on Russia disrupted the regional supply chain, further impacting the production rates.

This analysis can be extended to include detailed phosphoric acid price information for a comprehensive list of countries.

North America Phosphoric Acid Price

In North America, the phosphoric acid market is witnessing a downward trend attributed to the fall in cost of phosphate rocks in Q4 results of 2023. With the decline in demand from the various downstream industries such as fertilizers, food, preservatives, and surfactants, along with the pricing pressures and higher manufacturing cost is supporting the market demand.

Specific phosphoric acid historical data within the United States and Canada can also be provided.

Middle East and Africa Phosphoric Acid Price

The phosphoric acid market in the Middle East and Africa (MEA) region showcased a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

In addition to region-wise data, information on phosphoric acid prices for countries can also be provided.

Asia Pacific Phosphoric Acid Price

Asia Pacific is experiencing a significant decrease in the phosphoric acid market owing to reduced cost of phosphate rock in Q4 results. Moreover, the decline was remarkable by major manufacturers such as Morocco, from which countries such as India imports phosphoric acid. Buyers also looked for alternatives owing to uncertainties regarding China’s dependability as the leading exporter, resulting in the decline in price.

This phosphoric acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Phosphoric Acid Price

The analysis of phosphoric acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of phosphoric acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting phosphoric acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The phosphoric acid price charts ensure our clients remain at the forefront of the industry.