GCC: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in GCC

The GCC potassium chloride (MOP) market fell to $X in 2022, with a decrease of -6% against the previous year. In general, consumption, however, continues to indicate buoyant growth. The level of consumption peaked at $X in 2021, and then fell in the following year.

Potassium Chloride (Mop) Production in GCC

In value terms, potassium chloride (MOP) production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Potassium Chloride (Mop) Exports

Exports in GCC

Potassium chloride (MOP) exports reduced sharply to X tons in 2022, which is down by -38% on the year before. In general, exports saw a deep reduction. The growth pace was the most rapid in 2017 with an increase of 1,723% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, potassium chloride (MOP) exports contracted sharply to $X in 2022. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 708%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Bahrain (X tons), making up a 5% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to potassium chloride (MOP) exports from the United Arab Emirates stood at -5.8%. At the same time, Bahrain (+474.4%) and Oman (+7.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +474.4% from 2012-2022. While the share of Bahrain (+5 p.p.) and Oman (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-7.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest potassium chloride (MOP) supplier in GCC, comprising 87% of total exports. The second position in the ranking was held by Bahrain ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+325.7% per year) and Oman (+1.0% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by -10.2% against the previous year. Overall, the export price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 53%. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-3.9%), while the other leaders experienced a decline in the export price figures.

Potassium Chloride (Mop) Imports

Imports in GCC

In 2022, potassium chloride (mop) imports in GCC shrank notably to X tons, falling by -81.8% compared with the previous year's figure. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 81% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then plummeted in the following year.

In value terms, potassium chloride (MOP) imports reduced markedly to $X in 2022. Over the period under review, imports saw a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 64%. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

Qatar (X tons) and the United Arab Emirates (X tons) dominates imports structure, together mixing up 82% of total imports. It was distantly followed by Kuwait (X tons) and Bahrain (X tons), together making up a 17% 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 +34.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium chloride (MOP) importing markets in GCC were Qatar ($X), the United Arab Emirates ($X) and Bahrain ($X), together comprising 89% of total imports.

Qatar, with a CAGR of +29.1%, saw 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

The import price in GCC stood at $X per ton in 2022, rising by 29% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. The level of import peaked at $X per ton in 2012; however, from 2013 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 Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform