GCC: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in GCC

The GCC monoammonium phosphate market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, recorded a slight contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Monoammonium Phosphate Production in GCC

In value terms, monoammonium phosphate production reduced to $X in 2022 estimated in export price. In general, production, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 105%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports in GCC

In 2022, the amount of monoammonium phosphate (MAP) exported in GCC shrank to X tons, waning by -10.9% against the previous year's figure. Overall, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 525%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, monoammonium phosphate exports dropped remarkably to $X in 2022. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 411%. The level of export peaked at $X in 2021, and then fell dramatically in the following year.

Exports by Country

Saudi Arabia dominates exports structure, finishing at X tons, which was near 98% of total exports in 2022. The United Arab Emirates (X tons) held a minor share of total exports.

Saudi Arabia was also the fastest-growing in terms of the monoammonium phosphate (MAP) exports, with a CAGR of +42.4% from 2012 to 2022. At the same time, the United Arab Emirates (+21.5%) displayed positive paces of growth. Saudi Arabia (+5.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -5.6% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest monoammonium phosphate supplier in GCC, comprising 97% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.7% share of total exports.

In Saudi Arabia, monoammonium phosphate exports expanded at an average annual rate of +38.7% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of -20.1% against the previous year. Over the period under review, the export price recorded a perceptible slump. The growth pace was the most rapid in 2021 when the export price increased by 87% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.6%).

Monoammonium Phosphate Imports

Imports in GCC

In 2022, approx. X tons of monoammonium phosphate (MAP) were imported in GCC; waning by -28.7% on 2021 figures. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 60% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports shrank markedly to $X in 2022. In general, imports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. As a result, imports attained the peak of $X, and then reduced markedly in the following year.

Imports by Country

The purchases of the one major importers of monoammonium phosphate (MAP), namely the United Arab Emirates, represented more than two-thirds of total import.

The United Arab Emirates was also the fastest-growing in terms of the monoammonium phosphate (MAP) imports, with a CAGR of +26.4% from 2012 to 2022. From 2012 to 2022, the share of the United Arab Emirates increased by +82 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in GCC.

In the United Arab Emirates, monoammonium phosphate imports expanded at an average annual rate of +18.5% over the period from 2012-2022.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, dropping by -9.1% against the previous year. Over the period under review, the import price recorded a abrupt setback. The pace of growth was the most pronounced in 2021 when the import price increased by 23%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, 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 -6.3% per year.

Source: IndexBox Platform