Phosphoric Acid Price in USA
- United States: 1050 USD/MT
In December 2023, the price of phosphoric acid in the USA hit $1050 per metric ton during the fourth quarter. Over the course of Q4 2023, there was a distinct downward trend in its price.
The latest report by IMARC Group, titled "Phosphoric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of phosphoric acid price trend. This report delves into the price of phosphoric acid globally, presenting a detailed analysis, along with informative phosphoric acid price chart. Through comprehensive phosphoric acid price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the phosphoric acid demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
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 influenced by a combination of industrial demand, geopolitical factors, and agricultural requirements. Primarily used in the production of fertilizers, phosphoric acid's demand is closely tied to the global agricultural sector's performance. As countries ramp up food production to meet increasing population needs, the demand for fertilizers, and consequently phosphoric acid, rises. Moreover, its use in the food and beverage industry as a food additive contributes to its market dynamics. Geopolitically, the stability of regions that are significant producers, like Morocco in the case of phosphates, can affect global supply chains. Additionally, environmental regulations and sustainability efforts lead to technological innovations and alternative products, impacting market growth and price volatility. The strategic stockpiling by countries and fluctuations in raw material prices also play critical roles in shaping the market landscape. Hence, the market dynamics of phosphoric acid are governed by a complex interplay of supply-demand fundamentals, global economic policies, and sector-specific demands.
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. In the first quarter of 2024, North American phosphoric acid prices were primarily influenced by production disruptions and market supply concerns. Shutdowns at key facilities due to extreme weather conditions significantly impacted the supply chain, leading to a tightened market and price fluctuations. Additionally, the subdued demand both domestically and internationally led suppliers to reduce their stock levels, further contributing to the price instability. These factors combined suggest a market under pressure with potential for price retracement as supply normalizes and inventory levels are adjusted.
The APAC region saw a steady price trend for phosphoric acid, driven by balanced supply-demand dynamics. The significant impact came from the reduced demand in key sectors like fertilizers and food, particularly in South Korea, influenced by economic activities and import price adjustments from China. The ongoing destocking activities ensured sufficient market supply despite the subdued demand. Furthermore, the depreciation of the South Korean won against the dollar amplified the regional pricing adjustments, maintaining the market's stability despite global pressures.
In Europe, the price dynamics of phosphoric acid were largely affected by reduced demand from the fertilizer industry and the presence of an oversupply in the market. Economic uncertainties and competition from alternative products also played a role in driving the prices down. Geopolitical tensions causing delivery delays and an increase in freight charges added layers of complexity to the market challenges. These factors collectively fostered a competitive and unpredictable market environment in Europe during the first quarter.
The MEA region experienced a decline in phosphoric acid prices, largely due to decreased agricultural demand following unfavorable weather conditions and reduced crop sowing. The shift in sourcing strategies by key producers like Morocco, who depended more on European suppliers due to heightened shipping risks in the Red Sea, also influenced the market. This realignment affected the regional demand for phosphoric acid, with consumer confidence in Morocco reflecting broader economic challenges, thereby pressing down on prices.
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
Browse More Pricing Reports By IMARC Group:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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