Europe: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Europe

The Europe monoammonium phosphate market expanded slightly to $X in 2022, picking up by 1.7% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the market attained the maximum level at $X in 2019; afterwards, it flattened through to 2022.

Monoammonium Phosphate Production in Europe

In value terms, monoammonium phosphate production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; afterwards, it flattened through to 2022.

Monoammonium Phosphate Exports

Exports in Europe

In 2022, shipments abroad of monoammonium phosphate (MAP) decreased by -13.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +16.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, monoammonium phosphate exports fell rapidly to $X in 2022. Overall, exports, however, saw a noticeable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 108% against the previous year. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Russia prevails in exports structure, accounting for X tons, which was approx. 84% of total exports in 2022. Belgium (X tons), Lithuania (X tons), Norway (X tons) and Poland (X tons) followed a long way behind the leaders.

Exports from Russia increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, Norway (+38.1%), Poland (+30.3%), Lithuania (+25.5%) and Belgium (+3.7%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Europe, with a CAGR of +38.1% from 2012-2022. While the share of Lithuania (+1.8 p.p.) and Norway (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest monoammonium phosphate supplier in Europe, comprising 72% of total exports. The second position in the ranking was held by Belgium ($X), with a 6.2% share of total exports. It was followed by Lithuania, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+3.6% per year) and Lithuania (+28.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, declining by -3.9% against the previous year. In general, the export price recorded a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of 64%. 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 Belgium ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+2.9%), while the other leaders experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports in Europe

Monoammonium phosphate imports fell markedly to X tons in 2022, with a decrease of -19.4% on the year before. In general, imports continue to indicate a mild decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 28% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports skyrocketed to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +77.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 45% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons), followed by Italy (X tons), Belarus (X tons), Belgium (X tons), Poland (X tons), the Netherlands (X tons), Hungary (X tons), Romania (X tons) and France (X tons) represented the main importers of monoammonium phosphate (MAP), together creating 68% of total imports. The following importers - Serbia (X tons), Slovenia (X tons), Norway (X tons) and Greece (X tons) - together made up 13% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Slovenia (with a CAGR of +49.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2022, with a combined 35% share of total imports. Poland, France, Norway, Belgium, Belarus, Hungary, Romania, Slovenia, Greece and Serbia lagged somewhat behind, together comprising a further 45%.

Among the main importing countries, Slovenia, with a CAGR of +56.8%, saw the highest rates of growth with regard to 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

The import price in Europe stood at $X per ton in 2022, growing by 52% against the previous year. In general, the import price showed a moderate expansion. The most prominent rate of growth was recorded in 2021 an increase of 53% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform