Italy: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Italy

The Italian potassium sulphate (SOP) market shrank to $X in 2022, declining by -2.3% against the previous year. Over the period under review, consumption showed a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 5.8%. Potassium sulphate (SOP) consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Potassium Sulphate (Sop) Production in Italy

In value terms, potassium sulphate (SOP) production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Potassium sulphate (SOP) production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports from Italy

Potassium sulphate (SOP) exports from Italy dropped notably to X tons in 2022, declining by -17.1% against 2021 figures. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 93% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, potassium sulphate (SOP) exports soared to $X in 2022. Overall, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 96%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Croatia (X tons), Turkey (X tons) and Greece (X tons) were the main destinations of potassium sulphate (SOP) exports from Italy, with a combined 39% share of total exports. France, Tunisia, Germany, Oman, the UK, Hungary, Switzerland, the Netherlands, Spain and Pakistan lagged somewhat behind, together comprising a further 51%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +174.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Croatia ($X) and Tunisia ($X) constituted the largest markets for potassium sulphate (SOP) exported from Italy worldwide, together comprising 40% of total exports. Oman, the UK, Greece, France, the Netherlands, Switzerland, Hungary, Pakistan, Spain and Germany lagged somewhat behind, together accounting for a further 47%.

Among the main countries of destination, Oman, with a CAGR of +196.3%, recorded 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

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, surging by 47% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Greece ($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 Oman (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports into Italy

In 2022, approx. X tons of potassium sulphate (SOP) were imported into Italy; with a decrease of -29.9% compared with 2021 figures. In general, imports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 33%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports contracted to $X in 2022. Overall, imports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2015 when imports increased by 22%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest potassium sulphate (SOP) supplier to Italy, accounting for a 57% share of total imports. Moreover, potassium sulphate (SOP) imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. The third position in this ranking was held by Egypt (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+19.3% per year) and Egypt (+42.4% per year).

In value terms, Germany ($X) constituted the largest supplier of potassium sulphate (SOP) to Italy, comprising 55% of total imports. The second position in the ranking was held by Austria ($X), with an 18% share of total imports. It was followed by Egypt, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+28.2% per year) and Egypt (+46.8% per year).

Import Prices by Country

The average potassium sulphate (SOP) import price stood at $X per ton in 2022, surging by 41% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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