Greece: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Greece

For the third year in a row, the Greek monoammonium phosphate market recorded growth in sales value, which increased by 23% to $X in 2022. Overall, consumption, however, posted a strong increase. Monoammonium phosphate consumption peaked in 2022 and is expected to retain growth in the near future.

Monoammonium Phosphate Exports

Exports from Greece

In 2022, shipments abroad of monoammonium phosphate (MAP) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,427%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, monoammonium phosphate exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 1,631%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons) was the main destination for monoammonium phosphate exports from Greece, with a 45% share of total exports. Moreover, monoammonium phosphate exports to Bulgaria exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was taken by Hungary (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bulgaria totaled +68.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Hungary (+3.4% per year).

In value terms, the largest markets for monoammonium phosphate exported from Greece were Poland ($X), Bulgaria ($X) and Hungary ($X), together comprising 79% of total exports. Albania, North Macedonia, Serbia, Romania and South Korea lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, North Macedonia, with a CAGR of +282.3%, recorded the highest growth rate of 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

The average monoammonium phosphate export price stood at $X per ton in 2022, picking up by 69% against the previous year. Overall, the export price, however, recorded a perceptible downturn. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Albania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Greece

In 2022, approx. X tons of monoammonium phosphate (MAP) were imported into Greece; with a decrease of -6% compared with the previous year's figure. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by 145% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, monoammonium phosphate imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2013 when imports increased by 109%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Russia (X tons), China (X tons) and Israel (X tons) were the main suppliers of monoammonium phosphate imports to Greece, together comprising 89% of total imports. Lithuania, Serbia, Morocco, the Netherlands and Bulgaria lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +139.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), China ($X) and Israel ($X) were the largest monoammonium phosphate suppliers to Greece, with a combined 85% share of total imports. Lithuania, Serbia, Bulgaria, the Netherlands and Morocco lagged somewhat behind, together comprising a further 14%.

Lithuania, with a CAGR of +171.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average monoammonium phosphate import price amounted to $X per ton, with an increase of 44% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoammonium phosphate import price increased by +79.1% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+38.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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