Ireland: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Ireland

In 2022, the Irish potassium sulphate (SOP) market decreased by -11.9% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a perceptible decrease. Potassium sulphate (SOP) consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Potassium Sulphate (Sop) Exports

Exports from Ireland

In 2022, shipments abroad of potassium sulphate (SOP) decreased by 0% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 297% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports totaled $X in 2022. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 167% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for potassium sulphate (SOP) exports from Ireland, with a 63% share of total exports. Moreover, potassium sulphate (SOP) exports to the UK exceeded the volume sent to the second major destination, France (X tons), twofold. Ethiopia (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled +58.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+25.2% per year) and Ethiopia (+3.1% per year).

In value terms, France ($X), the UK ($X) and Ethiopia ($X) appeared to be the largest markets for potassium sulphate (SOP) exported from Ireland worldwide, with a combined 94% share of total exports. The United States lagged somewhat behind, comprising a further 4.1%.

In terms of the main countries of destination, the United States, with a CAGR of +46.0%, 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

In 2022, the average potassium sulphate (SOP) export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price recorded a abrupt decline. The growth pace was the most rapid in 2020 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to the UK ($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 France (+11.4%), while the prices for the other major destinations experienced a decline.

Potassium Sulphate (Sop) Imports

Imports into Ireland

In 2022, overseas purchases of potassium sulphate (SOP) decreased by 0% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 47% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) imports amounted to $X in 2022. Over the period under review, imports continue to indicate a noticeable decline. The growth pace was the most rapid in 2015 when imports increased by 44%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) was the main supplier of potassium sulphate (SOP) to Ireland, with a 98% share of total imports. It was followed by the UK (X tons), with a 1.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+15.3% per year) and Belgium (-44.4% per year).

In value terms, Germany ($X) constituted the largest supplier of potassium sulphate (SOP) to Ireland, comprising 97% of total imports. The second position in the ranking was held by the UK ($X), with a 2.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+12.0% per year) and Belgium (-40.5% per year).

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, stabilizing at the previous year. Overall, the import price posted a notable increase. The most prominent rate of growth was recorded in 2014 an increase of 13%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Germany ($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 Netherlands (+33.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :