Asia: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Asia

In 2022, the Asian potassium chloride (MOP) market increased by 51% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Potassium Chloride (Mop) Production in Asia

In value terms, potassium chloride (MOP) production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight decline. The growth pace was the most rapid in 2015 with an increase of 5.6% against the previous year. 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

In 2022, shipments abroad of potassium chloride (MOP) decreased by -81.5% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, exports faced a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 32%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell remarkably in the following year.

In value terms, potassium chloride (MOP) exports shrank rapidly to $X in 2022. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 27%. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

Lao People's Democratic Republic represented the main exporter of potassium chloride (MOP) in Asia, with the volume of exports resulting at X tons, which was approx. 58% of total exports in 2022. Uzbekistan (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (6.3%), Turkmenistan (5.5%) and Malaysia (4.5%). China (X tons) and Thailand (X tons) held a relatively small share of total exports.

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. Turkmenistan and Uzbekistan experienced a relatively flat trend pattern. By contrast, China (-18.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Lao People's Democratic Republic, Uzbekistan, Vietnam, Turkmenistan, Malaysia and Thailand increased by +58, +14, +5.9, +5.5, +3.3 and +1.8 percentage points, respectively.

In value terms, Lao People's Democratic Republic ($X) remains the largest potassium chloride (MOP) supplier in Asia, comprising 47% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 17% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Lao People's Democratic Republic stood at +57.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (+19.5% per year) and Vietnam (+21.8% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, surging by 53% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Uzbekistan (+19.5%), while the other leaders experienced more modest paces of growth.

Potassium Chloride (Mop) Imports

Imports in Asia

In 2022, the amount of potassium chloride (MOP) imported in Asia skyrocketed to X tons, jumping by 30% against 2021. 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 +33.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, potassium chloride (MOP) imports skyrocketed to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +57.9% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the key importer of potassium chloride (MOP) in Asia, with the volume of imports resulting at X tons, which was approx. 46% of total imports in 2022. India (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (13%), Thailand (5.9%) and South Korea (5.2%). The following importers - Vietnam (X tons) and Indonesia (X tons) - together made up 7.4% 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, with a CAGR of +12.2% from 2012-2022. By contrast, Indonesia (-8.9%) illustrated a downward trend over the same period. China (+6.6 p.p.), Malaysia (+5.4 p.p.), Thailand (+2.6 p.p.) and South Korea (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -12% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported potassium chloride (MOP) in Asia, comprising 42% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by Malaysia, with a 10% share.

In China, potassium chloride (MOP) imports increased 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

The import price in Asia stood at $X per ton in 2022, growing by 24% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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

Frequently Asked Questions (FAQ) :