Finland: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Finland

In 2022, the Finnish monoammonium phosphate market was finally on the rise to reach $X after three years of decline. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -35.4% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Monoammonium Phosphate Production in Finland

In value terms, monoammonium phosphate production expanded significantly to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.1% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 85%. Monoammonium phosphate production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Monoammonium Phosphate Exports

Exports from Finland

In 2022, the amount of monoammonium phosphate (MAP) exported from Finland expanded to X tons, increasing by 2.1% compared with the previous year's figure. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,637,067% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, monoammonium phosphate exports soared to $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 1,869,582% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Norway (X tons) was the main destination for monoammonium phosphate exports from Finland, accounting for a 70% share of total exports. Moreover, monoammonium phosphate exports to Norway exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Norway amounted to +44.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+28.4% per year) and the UK (+30.6% per year).

In value terms, Norway ($X) remains the key foreign market for monoammonium phosphate (MAP) exports from Finland, comprising 71% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Norway totaled +53.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+110.6% per year) and the UK (+52.3% per year).

Export Prices by Country

In 2022, the average monoammonium phosphate export price amounted to $X per ton, growing by 70% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price 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, monoammonium phosphate export price increased by +127.0% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+64.1%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Finland

In 2022, monoammonium phosphate imports into Finland fell rapidly to X tons, which is down by -44.6% compared with the previous year. In general, imports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 56%. Imports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, monoammonium phosphate imports declined notably to $X in 2022. Over the period under review, imports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 129% against the previous year. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of monoammonium phosphate to Finland, with a 79% share of total imports. Moreover, monoammonium phosphate imports from Russia exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+58.2% per year) and Germany (+48.7% per year).

In value terms, Russia ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Finland, comprising 65% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 21% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+104.5% per year) and Germany (+40.4% per year).

Import Prices by Country

The average monoammonium phosphate import price stood at $X per ton in 2022, increasing by 21% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 51%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+29.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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