Africa: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Africa

The African potassium nitrate market expanded markedly to $X in 2022, picking up by 6% against the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Potassium Nitrate Production in Africa

In value terms, potassium nitrate production dropped to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.9% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 31%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Potassium Nitrate Exports

Exports in Africa

In 2022, after four years of growth, there was significant decline in shipments abroad of potassium nitrates, when their volume decreased by -83% to X tons. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 110%. As a result, the exports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, potassium nitrate exports shrank markedly to $X in 2022. In general, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of 114%. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

South Africa prevails in exports structure, recording X tons, which was near 83% of total exports in 2022. It was distantly followed by Morocco (X tons) and Kenya (X tons), together making up a 12% share of total exports. Egypt (X tons) held a relatively small share of total exports.

Exports from South Africa decreased at an average annual rate of -1.4% from 2012 to 2022. At the same time, Morocco (+23.8%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in Africa, with a CAGR of +23.8% from 2012-2022. By contrast, Kenya (-5.4%) and Egypt (-27.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa and Morocco increased by +40 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest potassium nitrate supplier in Africa, comprising 76% of total exports. The second position in the ranking was taken by Morocco ($X), with an 11% share of total exports. It was followed by Kenya, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to -3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (+25.8% per year) and Kenya (-1.9% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, rising by 27% against the previous year. Overall, the export price, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 33%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kenya (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Potassium Nitrate Imports

Imports in Africa

In 2022, purchases abroad of potassium nitrates decreased by -11.5% to X tons, falling for the third year in a row after two years of growth. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 63%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +46.9% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 48%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X tons) and Morocco (X tons) represented the main importers of potassium nitrates in Africa, together accounting for near 75% of total imports. It was distantly followed by Kenya (X tons), generating a 12% share of total imports. Algeria (X tons), Tunisia (X tons), Nigeria (X tons) and Ethiopia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ethiopia (with a CAGR of +24.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), South Africa ($X) and Kenya ($X) were the countries with the highest levels of imports in 2022, together accounting for 91% of total imports. Algeria, Tunisia, Nigeria and Ethiopia lagged somewhat behind, together comprising a further 5.3%.

Ethiopia, with a CAGR of +20.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, growing by 62% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +71.0% against 2020 indices. As a result, import price reached 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 Morocco ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+5.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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