Sodium Phosphates Market

The global market for phosphates of mono- or di-sodium is projected to see continued growth in consumption and production over the next eight years. The market is expected to experience a modest increase in volume and value terms, with key countries such as Spain, Sweden, and the United States leading in both consumption and production. Imports and exports of sodium phosphates are also on the rise, with countries like China, Germany, and the United States being major players in the market. Overall, the market for sodium phosphates is expected to see steady growth in the immediate term, with fluctuations in trends and prices observed over the analyzed period.

Market Forecast

Driven by increasing demand for phosphates of mono- or di-sodium worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.4% for the period from 2022 to 2030, which is projected to bring the market volume to 154K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market value to $370M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Phosphates Of Mono- Or Di-Sodium

For the third consecutive year, the global market recorded growth in consumption of phosphates of mono- or di-sodium, which increased by 39% to 149K tons in 2022. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.5% against 2019 indices. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global sodium phosphates market value soared to $351M in 2022, with an increase of 93% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

Spain (47K tons) constituted the country with the largest volume of sodium phosphates consumption, accounting for 32% of total volume. Moreover, sodium phosphates consumption in Spain exceeded the figures recorded by the second-largest consumer, Sweden (16K tons), threefold. The third position in this ranking was taken by Russia (9.8K tons), with a 6.6% share.

In Spain, sodium phosphates consumption expanded at an average annual rate of +40.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: Sweden (+4.5% per year) and Russia (+34.3% per year).

In value terms, Spain ($148M) led the market, alone. The second position in the ranking was taken by Sweden ($24M). It was followed by the United States.

In Spain, the sodium phosphates market expanded at an average annual rate of +47.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Sweden (+6.0% per year) and the United States (+3.7% per year).

The countries with the highest levels of sodium phosphates per capita consumption in 2022 were Sweden (1,484 kg per 1000 persons), Spain (1,000 kg per 1000 persons) and Israel (423 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Spain (with a CAGR of +39.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Phosphates Of Mono- Or Di-Sodium

For the third year in a row, the global market recorded growth in production of phosphates of mono- or di-sodium, which increased by 55% to 133K tons in 2022. In general, the total production indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +71.3% against 2015 indices. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, sodium phosphates production shrank slightly to $163M in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $169M, and then contracted in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were Spain (46K tons), China (28K tons) and Sweden (15K tons), with a combined 68% share of global production. Germany, Russia, France, Israel and Tunisia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Israel (with a CAGR of +1.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Phosphates Of Mono- Or Di-Sodium

In 2022, after two years of growth, there was significant decline in overseas purchases of phosphates of mono- or di-sodium, when their volume decreased by -6.5% to 82K tons. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Global imports peaked at 87K tons in 2021, and then declined in the following year.

In value terms, sodium phosphates imports surged to $222M in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.2% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (15K tons), distantly followed by Malaysia (8.2K tons) and Thailand (7.1K tons) represented the key importers of phosphates of mono- or di-sodium, together generating 37% of total imports. The following importers - the Philippines (3.2K tons), Canada (3.1K tons), Kenya (2.9K tons), Germany (2.5K tons), the UK (2.2K tons), the Netherlands (2.1K tons), South Korea (2.1K tons), Indonesia (1.8K tons), Italy (1.8K tons) and Belgium (1.7K tons) - together made up 29% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +18.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($37M) constitutes the largest market for imported phosphates of mono- or di-sodium worldwide, comprising 17% of global imports. The second position in the ranking was held by Thailand ($16M), with a 7% share of global imports. It was followed by Malaysia, with a 3.6% share.

In the United States, sodium phosphates imports expanded at an average annual rate of +6.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+15.2% per year) and Malaysia (+8.0% per year).

Import Prices By Country

The average sodium phosphates import price stood at $2,721 per ton in 2022, surging by 42% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($3,817 per ton), while Malaysia ($976 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+10.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Phosphates Of Mono- Or Di-Sodium

In 2022, overseas shipments of phosphates of mono- or di-sodium decreased by -1% to 66K tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports recorded a mild shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 38% against the previous year. The global exports peaked at 77K tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sodium phosphates exports soared to $185M in 2022. In general, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, China (23K tons), distantly followed by Germany (13K tons), the United States (6.6K tons), France (5.4K tons) and Thailand (4.6K tons) represented the largest exporters of phosphates of mono- or di-sodium, together creating 80% of total exports. Mexico (2.8K tons) and Russia (1.5K tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mexico (with a CAGR of +21.4%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest sodium phosphates supplying countries worldwide were Germany ($60M), China ($48M) and the United States ($17M), together accounting for 67% of global exports. France, Thailand, Mexico and Russia lagged somewhat behind, together accounting for a further 17%.

Mexico, with a CAGR of +20.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average sodium phosphates export price stood at $2,822 per ton in 2022, increasing by 31% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium phosphates export price increased by +71.2% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($4,574 per ton), while Russia ($997 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform