The latest report by IMARC, titled "Phosphoric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of phosphoric acid prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Phosphoric Acid Prices December 2023:

  • United States: 1050 USD/MT
  • China: 981 USD/MT
  • Germany: 1275 USD/MT

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The study delves into the factors affecting phosphoric acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

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Phosphoric Acid Price Trend- Q4 2023

The phosphoric acid market is experiencing significant growth driven by the expanding agricultural sector, particularly in emerging economies, is fueling the demand for phosphoric acid-based fertilizers. Phosphoric acid is a vital component in the production of phosphate fertilizers, which are essential for enhancing soil fertility and promoting plant growth. With the global population expected to reach nearly 10 billion by 2050, there is a growing need to increase agricultural productivity to meet food demand, driving the adoption of phosphoric acid in fertilizer applications. Additionally, phosphoric acid finds widespread use in the manufacturing of various industrial products, including detergents, food additives, and animal feed supplements. The versatility of phosphoric acid across multiple industries, coupled with its indispensable role in agriculture, is contributing to the steady growth of the phosphoric acid market globally.

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. The phosphoric acid market witnessed fluctuating prices in the last quarter, influenced by disruptions in the supply chain due to geopolitical tensions and trade disputes. Uncertainties surrounding key phosphate rock suppliers and production facilities have led to supply constraints, impacting market dynamics and pricing trend. Moreover, fluctuations in raw material prices, particularly sulfur and ammonia, which are essential ingredients in phosphoric acid production, have also influenced pricing in the last quarter. In the Asia-Pacific (APAC) region, the price of phosphoric acid has exhibited a declining trend during the 4th Quarter of 2023, primarily attributed to the decrease in the price of phosphate rocks from the sourcing nation. Moreover, in this quarter, suppliers have reduced their ex quotation price, leading to a decline in the price of Phosphoric Acid, concluding at 986 USD/MT FOB-Qinzhou, marking a decrease of 3.23%. Price fluctuations in raw materials directly affect the production costs of phosphoric acid, leading to adjustments in market prices to maintain profitability for manufacturers. Besides, in the European market, phosphoric acid prices experienced a slight increase at the end of 4th Quarter 2024, primarily due to heightened demand from the downstream fertilizer sector, specifically for the production of DAP and MAP. Additionally, a surge in freight charges observed this month emerged as a principal factor in the overall price surge. 

Furthermore, changing demand dynamics, particularly in key consuming industries such as agriculture and chemicals, have exerted pressure on phosphoric acid prices. Seasonal fluctuations in agricultural demand, coupled with shifts in consumer preferences and regulatory changes, have influenced market sentiment and pricing trend. Additionally, currency fluctuations and macroeconomic factors, such as inflation rates and exchange rates, have impacted the cost of production and international trade, further contributing to price volatility in the phosphoric acid market.

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Key Points Covered in the Phosphoric Acid Pricing Report:

The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:

  • Phosphoric Acid Prices
  • Phosphoric Acid Price Trend
  • Phosphoric Acid Demand & Supply
  • Phosphoric Acid Market Analysis
  • Demand Supply Analysis by Type
  • Demand Supply Analysis by Application
  • Demand Supply Analysis of Raw Materials
  • Phosphoric Acid Price Analysis
  • Phosphoric Acid Industry Drivers, Restraints, and Opportunities
  • Phosphoric Acid News and Recent developments
  • Global Event Analysis
  • List of Key Players

Regional Price Analysis:

  • Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
  • Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
  • North America: United States and Canada
  • Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
  • Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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