GCC: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in GCC

In 2022, the GCC NPK fertilizer market increased by 7.6% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Npk Fertilizer Production in GCC

In value terms, NPK fertilizer production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the production volume increased by 9.5%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Npk Fertilizer Exports

Exports in GCC

In 2022, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -3.5% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, posted buoyant growth. The growth pace was the most rapid in 2017 with an increase of 162% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, NPK fertilizer exports fell slightly to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 112% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the major exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in GCC, comprising 99% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +37.4%).

In value terms, the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +27.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, standing approx. at the previous year. In general, the export price, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2021 when the export price increased by 19%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably 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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-5.1%).

Npk Fertilizer Imports

Imports in GCC

In 2022, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -3% to X tons, falling for the fifth year in a row after six years of growth. Over the period under review, imports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2015 when imports increased by 412%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, NPK fertilizer imports surged to $X in 2022. Overall, imports, however, saw a measured increase. The most prominent rate of growth was recorded in 2015 when imports increased by 134%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importer of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in GCC, with the volume of imports finishing at X tons, which was approx. 50% of total imports in 2022. Oman (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons), Saudi Arabia (X tons) and Qatar (X tons). All these countries together held near 49% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the mixed nitrogen, phosphorus and potassium (NPK) fertilizers imports, with a CAGR of +22.8% from 2012 to 2022. At the same time, Kuwait (+15.2%) and Oman (+11.1%) displayed positive paces of growth. By contrast, Qatar (-1.8%) and Saudi Arabia (-9.5%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+38 p.p.), Oman (+6.7 p.p.) and Kuwait (+6.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-7.7 p.p.) and Saudi Arabia (-42.7 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported mixed nitrogen, phosphorus and potassium (NPK) fertilizers in GCC, comprising 40% of total imports. The second position in the ranking was held by Oman ($X), with a 20% share of total imports. It was followed by Saudi Arabia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +14.1%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+10.3% per year) and Saudi Arabia (-8.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by 22% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The pace of growth was the most pronounced in 2020 an increase of 74%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+11.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform