Canada: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Canada

The Canadian potassium sulphate (SOP) market surged to $X in 2022, picking up by 33% against the previous year. In general, consumption recorded a resilient increase. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Potassium Sulphate (Sop) Production in Canada

In value terms, potassium sulphate (SOP) production reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 16%. Potassium sulphate (SOP) production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports from Canada

In 2022, after six years of decline, there was significant growth in overseas shipments of potassium sulphate (SOP), when their volume increased by 21% to X tons. Over the period under review, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 26%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, potassium sulphate (SOP) exports skyrocketed to $X in 2022. Overall, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +111.5% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for potassium sulphate (SOP) exports from Canada, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +1.9%.

In value terms, the United States ($X) also remains the key foreign market for potassium sulphate (SOP) exports from Canada.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +2.9%.

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, with an increase of 12% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) export price increased by +134.2% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 26%. The export price peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +1.0% per year.

Potassium Sulphate (Sop) Imports

Imports into Canada

After two years of decline, purchases abroad of potassium sulphate (SOP) increased by 80% to X tons in 2022. In general, imports enjoyed perceptible growth. The pace of growth was the most pronounced in 2017 with an increase of 315% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports skyrocketed to $X in 2022. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 147%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Germany (X tons) and China (X tons) were the main suppliers of potassium sulphate (SOP) imports to Canada, with a combined 92% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +86.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium sulphate (SOP) suppliers to Canada were the United States ($X), Germany ($X) and China ($X), together accounting for 89% of total imports.

In terms of the main suppliers, China, with a CAGR of +97.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, growing by 25% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) import price increased by +40.7% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 71%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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