Egypt: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Egypt

In 2022, the Egyptian potassium sulphate (SOP) market was finally on the rise to reach $X after seven years of decline. Over the period under review, consumption continues to indicate a deep setback. Potassium sulphate (SOP) consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Potassium Sulphate (Sop) Production in Egypt

In value terms, potassium sulphate (SOP) production amounted to $X in 2022 estimated in export price. Overall, production posted a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 58%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Potassium Sulphate (Sop) Exports

Exports from Egypt

In 2022, the amount of potassium sulphate (SOP) exported from Egypt dropped to X tons, waning by -5.9% compared with 2021. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2017 when exports increased by 286%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, potassium sulphate (SOP) exports skyrocketed to $X in 2022. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 272% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Morocco (X tons), Peru (X tons) and Algeria (X tons) were the main destinations of potassium sulphate (SOP) exports from Egypt, together accounting for 31% of total exports. Brazil, Turkey, Mexico, South Africa, Mozambique, India, Spain, Italy, Pakistan and Chile lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +208.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potassium sulphate (SOP) exported from Egypt were Morocco ($X), Peru ($X) and Algeria ($X), together accounting for 31% of total exports. Brazil, Turkey, Mexico, South Africa, Mozambique, India, Spain, Italy, Pakistan and Chile lagged somewhat behind, together comprising a further 49%.

India, with a CAGR of +449.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, surging by 77% against the previous year. Over the period under review, the export price recorded buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per ton) and South Africa ($X per ton), while the average price for exports to Italy ($X per ton) and Mozambique ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+78.4%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports into Egypt

Potassium sulphate (SOP) imports into Egypt fell notably to X tons in 2022, which is down by -42.7% against the previous year. Overall, imports showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 with an increase of 36% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports rose sharply to $X in 2022. In general, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2019 when imports increased by 23% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of potassium sulphate (SOP) to Egypt, with a 78% share of total imports. Moreover, potassium sulphate (SOP) imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Sweden (X tons) ranked third in terms of total imports with a 0.7% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.6% per year) and Sweden (-30.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of potassium sulphate (SOP) to Egypt, comprising 78% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by Sweden, with a 0.7% share.

From 2012 to 2022, the average annual growth rate of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.1% per year) and Sweden (-27.6% per year).

Import Prices by Country

The average potassium sulphate (SOP) import price stood at $X per ton in 2022, growing by 89% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.0% 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 +98.5% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Jordan ($X per ton) and Sweden ($X per ton), while the price for Germany ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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