Hungary: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Hungary

In 2022, after three years of decline, there was significant growth in the Hungarian monoammonium phosphate market, when its value increased by 5.4% to $X. Overall, consumption saw a mild shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Monoammonium Phosphate Exports

Exports from Hungary

After four years of growth, overseas shipments of monoammonium phosphate (MAP) decreased by -59.2% to X tons in 2022. Over the period under review, exports, however, recorded pronounced growth. The pace of growth was the most pronounced in 2020 with an increase of 266% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, monoammonium phosphate exports dropped notably to $X in 2022. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 239%. The exports peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Slovakia (X tons) was the main destination for monoammonium phosphate exports from Hungary, with a 45% share of total exports. Moreover, monoammonium phosphate exports to Slovakia exceeded the volume sent to the second major destination, Poland (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+19.8% per year) and the Czech Republic (+17.1% per year).

In value terms, Slovakia ($X), the Czech Republic ($X) and Poland ($X) appeared to be the largest markets for monoammonium phosphate exported from Hungary worldwide, with a combined 60% share of total exports.

Poland, with a CAGR of +86.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average monoammonium phosphate export price amounted to $X per ton, rising by 51% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoammonium phosphate export price increased by +99.9% against 2020 indices. 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 for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Slovakia ($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 Poland (+55.9%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Hungary

For the fourth year in a row, Hungary recorded decline in overseas purchases of monoammonium phosphate (MAP), which decreased by -23.3% to X tons in 2022. Over the period under review, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2013 with an increase of 70%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, monoammonium phosphate imports rose notably to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 42% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Slovenia (X tons), Romania (X tons) and Bulgaria (X tons) were the main suppliers of monoammonium phosphate imports to Hungary, with a combined 78% share of total imports. Russia, Germany, Serbia and Slovakia lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +189.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Hungary, comprising 58% of total imports. The second position in the ranking was taken by Romania ($X), with a 14% share of total imports. It was followed by Germany, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Slovenia amounted to +131.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+40.8% per year) and Germany (+199.9% per year).

Import Prices by Country

In 2022, the average monoammonium phosphate import price amounted to $X per ton, jumping by 41% against the previous year. Over the period under review, the import price continues to indicate temperate growth. The growth pace was the most rapid in 2021 an increase of 74% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for Bulgaria ($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 (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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