GCC: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in GCC

The GCC potassic fertilizer market soared to $X in 2022, growing by X% against the previous year. In general, consumption showed a prominent increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Potassic Fertilizer Production in GCC

In value terms, potassic fertilizer production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Potassic Fertilizer Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in shipments abroad of potassic fertilizers, when their volume decreased by X% to X tons. In general, exports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, potassic fertilizer exports declined dramatically to $X in 2022. Overall, exports recorded a pronounced setback. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined markedly in the following year.

Exports by Country

Saudi Arabia was the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports. The following exporters - Oman (X tons) and Bahrain (X tons) - each resulted at an X% share of total exports.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

In terms of the main exporting countries, Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Potassic Fertilizer Imports

Imports in GCC

In 2022, the amount of potassic fertilizers imported in GCC expanded to X tons, growing by X% compared with 2021 figures. Over the period under review, imports saw a resilient expansion. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, potassic fertilizer imports expanded significantly to $X in 2022. In general, imports enjoyed a tangible increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Saudi Arabia represented the main importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons) and Qatar (X tons), together committing a X% share of total imports. The following importers - Bahrain (X tons) and Kuwait (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to potassic fertilizer imports into Saudi Arabia stood at X%. At the same time, Qatar (X%), Bahrain (X%), the United Arab Emirates (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Oman experienced a relatively flat trend pattern. From 2012 to 2022, the share of Saudi Arabia and Qatar increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Saudi Arabia, potassic fertilizer imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Bahrain ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were 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 a decline in the import price figures.

Source: IndexBox Platform