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Written by steph » Updated on: October 28th, 2024
Price of Phosphorus Acid Last Quarter:
Factors Influencing Phosphoric Acid Price Trend Across Various Regions:
Asia-Pacific Regions: In the last quarter, Phosphorus Acid Price Trend in Asia-Pacific declined mainly due to lower costs of phosphate rock, a key input in production. Environmental regulations, particularly in China, added challenges to maintaining production, especially with stricter emissions standards for industries. These regulatory changes contributed to pricing variability in the region.
Europe: In Europe, prices moderately increased toward the quarter’s end, spurred by higher demand from both the fertilizer and food sectors. Dependence on imports from North Africa and the Middle East left Europe vulnerable to fluctuations in global freight costs. Additionally, increased transportation expenses and geopolitical tensions strained supply chains, further adding to the upward pressure on prices. Elevated energy prices due to ongoing supply disruptions also pushed production costs higher, impacting phosphoric acid pricing.
North America: In North America, phosphoric acid prices trended upward, driven by increased production costs and strong demand from the agrochemical industry. Tightened inventories contributed to price increases, as local producers faced challenges in meeting both domestic and export demands. The push for greater agricultural output and the need for effective fertilizers like DAP intensified the competition for supplies. Broader chemical supply chain disruptions, combined with logistical and economic pressures, also influenced pricing across the region.
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Key Details of the Phosphoric Acid:
The phosphoric acid industry is experiencing growth driven by the high demand from agrochemical and fertilizer sectors, particularly for fertilizers like Diammonium Phosphate (DAP) and Monoammonium Phosphate (MAP). This demand is supported by increasing agricultural activity, especially across Asia and Europe, which rely heavily on phosphorus-based fertilizers. Phosphoric acid’s role extends to producing flame retardants, detergents, and pharmaceuticals, further supporting its market growth. Additionally, the shift towards sustainable agricultural practices and the development of eco-friendly fertilizers are boosting the market. Technological advances in production and its use in wastewater treatment applications are enhancing phosphoric acid's appeal, presenting a promising outlook for the industry.
Regional Price Analysis:
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of industry entry and expansion services. IMARC offerings include thorough industry assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, industrying and sales strategies, competitive landscape, benchmarking analyses, pricing and cost research, and procurement research.
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