Kuwait: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Kuwait

The Kuwaiti monoammonium phosphate market shrank to $X in 2022, falling by -2.6% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Monoammonium Phosphate Production in Kuwait

In value terms, monoammonium phosphate production declined modestly to $X in 2022 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.5% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 77% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Monoammonium Phosphate Exports

Exports from Kuwait

In 2018, shipments abroad of monoammonium phosphate (MAP) was finally on the rise to reach X tons for the first time since 2015, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a perceptible setback. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2018, the exports stood at a somewhat lower figure.

In value terms, monoammonium phosphate exports surged to $X in 2018. In general, exports, however, showed a deep setback. The exports peaked at $X in 2015; however, from 2016 to 2018, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for monoammonium phosphate exports from Kuwait, accounting for a approx. 100% share of total exports.

From 2015 to 2018, the average annual rate of growth in terms of volume to Canada stood at -3.7%.

In value terms, Canada ($X) also remains the key foreign market for monoammonium phosphate (MAP) exports from Kuwait.

From 2015 to 2018, the average annual rate of growth in terms of value to Canada totaled -9.9%.

Export Prices by Country

The average monoammonium phosphate export price stood at $X per ton in 2018, reducing by -9.7% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The pace of growth was the most pronounced in 2016 when the average export price decreased by -2.9% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2018, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2015 to 2018, the rate of growth in terms of prices for Canada amounted to -6.4% per year.

Monoammonium Phosphate Imports

Imports into Kuwait

After three years of decline, purchases abroad of monoammonium phosphate (MAP) increased by 77% to X tons in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 987%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports skyrocketed to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 546%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of monoammonium phosphate to Kuwait, with a 75% share of total imports. Moreover, monoammonium phosphate imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold. Russia (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.5% per year) and Russia (+5.3% per year).

In value terms, China ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Kuwait, comprising 80% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.2% share of total imports. It was followed by Russia, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+0.3% per year) and Russia (-7.6% per year).

Import Prices by Country

In 2022, the average monoammonium phosphate import price amounted to $X per ton, flattening at the previous year. Overall, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 an increase of 48% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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