Phosphoric Acid Price in USA
- United States: 1050 USD/MT
In December of Q4 2023, phosphoric acid in the USA hit $1050 per metric ton. Over the course of the fourth quarter, there was a clear decline in its price.
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
Report Offering:
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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 currently influenced by a complex interplay of factors ranging from global supply chain disruptions to regional economic conditions. In the first quarter of 2024, significant price fluctuations were noted, driven by a combination of supply-side constraints and varying demand across different sectors. Notably, unexpected production halts, such as those due to extreme weather conditions in North America, notably impacted the supply, with key producers like Hooker Chemical Company and Stauffer Chemical Company experiencing shutdowns. Concurrently, a subdued demand in both domestic and overseas markets led to destocking efforts by suppliers, exerting downward pressure on prices. Despite these challenges, market analysts anticipate a potential retracement in prices by mid-May. This prediction suggests a temporary stabilization, reflecting the market's responsive nature to the evolving economic landscape and operational challenges within the industry.
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 North America, the Phosphoric Acid market saw significant price volatility during the first quarter of 2024. This was primarily due to the dual impact of supply disruptions and muted demand. The unexpected shutdowns at major chemical plants in Texas, caused by severe weather conditions, significantly curtailed production capacities, leading to a tighter supply in the market. Simultaneously, a reduced demand both domestically and internationally prompted suppliers to reduce their inventory levels, further influencing the market dynamics. These elements combined to create a fluctuating price environment, with the anticipation of price adjustments in the near future.
In the APAC region, the price dynamics of Phosphoric Acid were largely governed by a cautious supplier behavior and an oversupply situation. Despite stable supply conditions, the demand from key sectors like fertilizers and food and beverages was notably lower, particularly in South Korea. This reduction in demand was exacerbated by aggressive destocking activities, alongside the depreciation of the South Korean won against the US dollar, which influenced import costs and pricing strategies. The decrease in prices from China, a major exporter, also played a critical role in shaping the regional price trends, leading to an overall decline in market prices during this period.
The European Phosphoric Acid market faced downward pricing pressure, influenced by several factors including reduced demand from the fertilizer sector, economic uncertainties, and heightened competition from alternative products. The oversupply situation was further exacerbated by high inventory levels maintained by major importers. Geopolitical tensions affecting shipping routes and increased freight charges also played significant roles in shaping the market dynamics. The combination of these factors led to a decrease in prices, particularly noticeable in Germany, which saw a significant reduction in prices due to lower costs from major suppliers like Morocco.
In the MEA region, particularly in Morocco, the market dynamics were significantly impacted by adverse weather conditions affecting the agricultural sector, which in turn reduced the demand for fertilizers. The geopolitical challenges in the Red Sea influenced shipping routes and logistics, prompting local producers to adjust their supply chains, which affected the pricing and availability of Phosphoric Acid. The stability in prices of phosphate rocks, which are key raw materials, helped mitigate some of the production cost increases. However, the overall market sentiment remained bearish, with a noticeable decline in prices during this quarter.
Browse Full Report: https://www.imarcgroup.com/phosphoric-acid-pricing-report
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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