Phosphoric Acid Price Trend and Forecast: Top 10 Leading Trading Countries and Regions - Latest Edition [2026]

The EMR pricing report on Phosphoric Acid provides insights into the top 10 leading trading countries and regions.

Phosphoric Acid prices have observed fluctuations throughout 2024. Various factors, such as fluctuating prices of raw materials such as sulphuric acid and phosphate rock, supply chain dynamics, and geopolitical and regulatory developments, contributed to these changes. Varied regional trends in prices were observed across markets – North America, Asia-Pacific, and Europe, which highlighted regional trade dynamics and pricing pressures. Price outlook of phosphoric acid prices in 2025 remains mixed across different regions, with moderate stability in prices expected, while downward pressure on prices is likely exerted by supply-demand imbalance and export policies.

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In China, the prices of Phosphoric Acid declined in last quarter of 2024, as compared to the previous year, owing to decline in demand from key end use industries such as agriculture (fertilizers), food and beverages, and chemical manufacturing and rise in costs of phosphate rock. Moreover, focus on increasing demand consumption and change in trade policies also contributed towards the price fall.

Phosphoric Acid Price Forecast

Phosphoric acid prices showed different patterns across regions in 2024. North America witnessed a price hike in May 2024 owing to high prices of sulphuric acid, with stability in prices witnessed throughout the year, due to consistent agricultural demand and stable supply. In contrast price drop was witnessed in Asia Pacific in April due to a fall in phosphate rock prices. With stability in prices, observed in China from September onwards, along with mild price hikes owing to stability in demand-supply, recovery in MAP and DAP fertiliser demand, with strong export controls aiding in the improvement of domestic consumption. In Europe, conservative buying behaviour and demand uncertainty led to a bullish trend in prices across 2024, with slight stability observed mid-year owing to a stable supply of imports from Morocco, which is one of the largest exporters of phosphoric acid in the European Union. In the Middle East and Africa, the prices exhibited mixed trends with export demand from Morocco and overseas supply, driving stability in phosphoric acids during the second half of the year.

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The global price outlook for phosphoric acid in 2025 is expected to trend downwards, with potential for moderate price increases driven by tightened supply conditions and steady demand from key downstream sectors. Rising raw material costs, particularly for sulphuric acid, along with continued trade restrictions on phosphate-based products, are likely to exert upward pressure on global prices. Overall, moderation in prices with occasional price drops, particularly in the first half of 2025, is anticipated.

Global Trade and Supply Chain Implications

Phosphoric acid prices are strongly shaped by global trade patterns and the efficiency of supply chain distributions. Key producing countries like Morocco and China play crucial roles in determining global availability. In 2024, export volumes from Morocco remained high despite slight price drops, showcasing the country's supply resilience and strategic partnerships with fertilizer-importing nations like India. China, on the other hand, introduced export curbs in 2024 to ensure domestic supply and stabilise local prices amid volatile global phosphate rock costs. These export restrictions tightened international availability, raising concerns about global food security, especially in phosphate-import-dependent countries. Reports from the International Food Policy Research Institute (IFPRI) highlighted how sustained high phosphate input costs, driven in part by Chinese export limitations, could increase the risk of reduced fertiliser usage, potentially affecting crop yields in developing regions.

In 2024, logistic issues such as high shipping costs, port congestion in major transit hubs like Singapore and Rotterdam, and geopolitical instability in the Red Sea and Eastern Europe were prevalent. These issues affected the timely delivery of phosphoric acid, causing regional price disparities and pushing some buyers to seek alternative or secondary suppliers. As the global food network continues to rely heavily on phosphate-based fertilizers, trade regulations, transportation and distribution networks, and geopolitical stability will remain critical in shaping the phosphoric acid market outlook in 2025 and beyond.

Feedstock Analysis

Fluctuations in sulphuric acid and phosphate rock prices in 2024 had a significant impact on the price of phosphoric acid. In May 2024, sulphuric acid prices surged in North America, creating upward cost pressure on phosphoric acid despite stable phosphate rock prices. This trend was also seen in September, across key regions, with Asia Pacific notably experiencing a sharp rise in sulphuric acid prices, further tightening margins and thus contributing towards stability phosphoric acid prices, especially in China. Conversely, phosphate rock markets remained largely stable (except China, where a price slump was observed) throughout the year, offering limited relief from overall feedstock cost inflation.

Towards the end of the year, while sulphuric acid costs continued to climb modestly, subdued demand in fertiliser markets and varied downstream demand led to cautious production adjustments in phosphoric acid output. The year also witnessed disruptions in global phosphate trade, particularly due to China’s export curbs aimed at encouraging domestic supply, amplifying supply-side challenges globally. These factors reflect the effect of phosphoric acid markets on feedstock volatility, especially aided by geopolitical and logistical constraints.

Demand and Supply Outlook for Phosphoric Acid

The future of phosphoric acid is anticipated to be moderately stable, with demand expected to remain steady across key industries such as agriculture, food processing, and energy storage. As global food security concerns persist, fertiliser production, particularly DAP and MAP, will continue to drive substantial phosphoric acid consumption. Emerging applications in lithium iron phosphate (LFP) batteries for electric vehicles and renewable energy systems are also expected to increase long-term demand. Additionally, major company investments in phosphoric acid, with Coromandel International, initiating the establishment of a INR 1,000 crore phosphoric and sulphuric acid complex in 2024 at its Kakinada facility in Andhra Pradesh (to be completed in the upcoming two years) and Paradeep Phosphates Limited sanctioning a brownfield expansion of its in-house phosphoric acid production capacity, with an estimated investment of INR 2,500 million, aiming to achieve full backward integration in fertilizer manufacturing, lessen reliance on imports, and boost overall operational efficiency would drive the demand further in countries like India.

On the supply side, consistent production from major exporters like Morocco and tighter Chinese export controls will shape global availability. While short-term market fluctuations may occur due to geopolitical or seasonal agricultural trends, the overall outlook suggests a cautiously bearish pricing environment amid stable demand.

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