Eastern Asia: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Eastern Asia

In 2022, the East Asian potassium chloride (MOP) market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, 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 Eastern Asia

In value terms, potassium chloride (MOP) production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 10% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Potassium Chloride (Mop) Exports

Exports in Eastern Asia

In 2022, approx. X tons of potassium chloride (MOP) were exported in Eastern Asia; shrinking by -83.4% compared with 2021 figures. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 22%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, potassium chloride (MOP) exports fell sharply to $X in 2022. In general, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 14%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, reaching X tons, which was near 90% of total exports in 2022. It was distantly followed by South Korea (X tons), generating a 5.4% share of total exports. Japan (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to potassium chloride (MOP) exports from China stood at -18.7%. At the same time, Japan (+32.4%) and South Korea (+12.8%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +32.4% from 2012-2022. South Korea (+5.1 p.p.) and Japan (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -9.2% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest potassium chloride (MOP) supplier in Eastern Asia, comprising 80% of total exports. The second position in the ranking was held by Japan ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -18.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+24.6% per year) and South Korea (+17.8% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 79% against the previous year. In general, the export price recorded a modest expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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 Korea (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Potassium Chloride (Mop) Imports

Imports in Eastern Asia

In 2022, supplies from abroad of potassium chloride (MOP) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, potassium chloride (MOP) imports surged to $X in 2022. Overall, imports showed measured growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China dominates imports structure, resulting at X tons, which was approx. 82% of total imports in 2022. South Korea (X tons) took a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by Japan (5.8%). Taiwan (Chinese) (X tons) took a minor share 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, South Korea (+11.3%), Japan (+5.6%) and Taiwan (Chinese) (+3.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.3% from 2012-2022. South Korea (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported potassium chloride (MOP) in Eastern Asia, comprising 79% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.5% share of total imports. It was followed by Japan, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +3.8%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+6.6% per year) and Japan (+2.2% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 26% against the previous year. Overall, the import price, however, recorded a noticeable descent. Over the period under review, import prices attained the peak figure 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 Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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