GCC: Market for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers 2024

Market Size for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in GCC

In 2022, after three years of growth, there was significant decline in the GCC market for carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when its value decreased by -59.8% to $X. Over the period under review, consumption, however, recorded a mild decrease. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in GCC

In value terms, production of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers surged to $X in 2022 estimated in export price. Overall, production showed a significant increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Exports in GCC

In 2022, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in GCC dropped notably to X tons, declining by -39.2% against 2021 figures. Over the period under review, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when exports increased by 101% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers dropped notably to $X in 2022. In general, exports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 103%. Over the period under review, the exports of hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), together resulting at 100% of total export.

The United Arab Emirates was also the fastest-growing in terms of the carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers exports, with a CAGR of -4.1% from 2012 to 2022. The United Arab Emirates (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -4.0%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with an increase of 10% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 27% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +0.1% per year.

Imports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Imports in GCC

In 2022, after three years of growth, there was significant decline in overseas purchases of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when their volume decreased by -67% to X tons. Over the period under review, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 40% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2021, and then fell sharply in the following year.

In value terms, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers reduced remarkably to $X in 2022. In general, imports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2013 when imports increased by 56% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

The United Arab Emirates was the main importer of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in GCC, with the volume of imports reaching X tons, which was approx. 75% of total imports in 2022. Bahrain (X tons) ranks second in terms of the total imports with a 13% share, followed by Oman (9.6%). Kuwait (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Bahrain (+63.6%) and Oman (+18.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +63.6% from 2012-2022. By contrast, Kuwait (-29.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Bahrain and Oman increased by +35, +13 and +8.3 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in GCC, comprising 83% of total imports. The second position in the ranking was held by Oman ($X), with an 11% share of total imports. It was followed by Bahrain, with a 3.9% share.

In the United Arab Emirates, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+15.5% per year) and Bahrain (+42.8% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by 25% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 41% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform