Asia-Pacific: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Asia-Pacific

The Asia-Pacific potassium chloride (MOP) market soared to $X in 2022, jumping by 41% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Potassium Chloride (Mop) Production in Asia-Pacific

In value terms, potassium chloride (MOP) production stood at $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2019 with an increase of 9.5%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Potassium Chloride (Mop) Exports

Exports in Asia-Pacific

In 2022, shipments abroad of potassium chloride (MOP) decreased by -14.3% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, potassium chloride (MOP) exports surged to $X in 2022. Overall, exports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Lao People's Democratic Republic prevails in exports structure, resulting at X tons, which was approx. 77% of total exports in 2022. Vietnam (X tons) took an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (6%) and China (4.8%). Thailand (X tons) followed a long way behind the leaders.

Lao People's Democratic Republic was also the fastest-growing in terms of the potassium chloride (MOP) exports, with a CAGR of +59.3% from 2012 to 2022. At the same time, Vietnam (+16.9%), Thailand (+7.7%) and Malaysia (+1.8%) displayed positive paces of growth. By contrast, China (-18.7%) illustrated a downward trend over the same period. Lao People's Democratic Republic (+76 p.p.) and Vietnam (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and China saw its share reduced by -3.9% and -68.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lao People's Democratic Republic ($X) remains the largest potassium chloride (MOP) supplier in Asia-Pacific, comprising 67% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports. It was followed by China, with a 6% share.

In Lao People's Democratic Republic, potassium chloride (MOP) exports expanded at an average annual rate of +57.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+21.8% per year) and China (-18.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, rising by 41% against the previous year. Overall, the export price, however, saw a noticeable slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Potassium Chloride (Mop) Imports

Imports in Asia-Pacific

In 2022, potassium chloride (mop) imports in Asia-Pacific soared to X tons, rising by 31% compared with the year before. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.7% 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 +33.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, potassium chloride (MOP) imports surged to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +78.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the major importer of potassium chloride (MOP) in Asia-Pacific, with the volume of imports accounting for X tons, which was near 45% of total imports in 2022. India (X tons) ranks second in terms of the total imports with a 15% share, followed by Malaysia (12%), Thailand (5.8%) and South Korea (5.1%). The following importers - Vietnam (X tons) and Indonesia (X tons) - together made up 7.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to potassium chloride (MOP) imports into China stood at +7.4%. At the same time, Thailand (+12.2%), Malaysia (+11.8%), South Korea (+11.3%), India (+6.5%) and Vietnam (+2.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +12.2% from 2012-2022. By contrast, Indonesia (-8.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Malaysia, Thailand and South Korea increased by +6.4, +5.2, +2.6 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported potassium chloride (MOP) in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by Malaysia, with a 9.9% share.

In China, potassium chloride (MOP) imports expanded at an average annual rate of +3.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (+2.7% per year) and Malaysia (+5.0% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, with an increase of 23% against the previous year. Overall, the import price, however, saw a noticeable decline. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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