GCC: Phosphatic Fertilizer Market 2024

Phosphatic Fertilizer Market Size in GCC

In 2022, after three years of growth, there was significant decline in the GCC phosphatic fertilizer market, when its value decreased by X% to $X. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Phosphatic Fertilizer Production in GCC

In value terms, phosphatic fertilizer production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Phosphatic Fertilizer Exports

Exports in GCC

In 2022, the amount of phosphatic fertilizers exported in GCC reduced dramatically to X tons, waning by X% on the year before. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, phosphatic fertilizer exports reduced notably to $X in 2022. In general, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Oman was the largest exporter of phosphatic fertilizers in GCC, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Saudi Arabia (X tons) held the second position in the ranking, distantly followed by Kuwait (X tons) and the United Arab Emirates (X tons). All these countries together held approx. X% share of total exports.

Oman was also the fastest-growing in terms of the phosphatic fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.), Saudi Arabia (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Kuwait ($X) remains the largest phosphatic fertilizer supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports. It was followed by Saudi Arabia, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Kuwait amounted to X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, increasing by X% against the previous year. Overall, the export price continues to indicate moderate growth. 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Oman ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Phosphatic Fertilizer Imports

Imports in GCC

After three years of growth, supplies from abroad of phosphatic fertilizers decreased by X% to X tons in 2022. Over the period under review, imports faced a abrupt descent. The growth pace was the most rapid in 2016 when imports increased by X%. The volume of import peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, phosphatic fertilizer imports shrank sharply to $X in 2022. Overall, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Oman (X tons) represented the key importers of phosphatic fertilizers in GCC, together resulting at near X% of total imports. Kuwait (X tons) took the next position in the ranking, followed by Qatar (X tons). All these countries together held approx. X% share of total imports.

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

In value terms, the United Arab Emirates ($X), Oman ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price recorded a pronounced expansion. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform