MENA: Ammonia Market 2024

Ammonia Market Size in MENA

In 2022, after two years of decline, there was significant growth in the MENA's ammonia market, when its value increased by 50% to $X. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ammonia Production in MENA

In value terms, ammonia production contracted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Ammonia Exports

Exports in MENA

Ammonia exports declined remarkably to X tons in 2022, falling by -57.1% against the previous year's figure. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 92%. Over the period under review, the exports hit record highs at X tons in 2021, and then declined remarkably in the following year.

In value terms, ammonia exports dropped dramatically to $X in 2022. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 97% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced rapidly in the following year.

Exports by Country

Algeria was the key exporter of anhydrous ammonia in MENA, with the volume of exports reaching X tons, which was near 48% of total exports in 2022. It was distantly followed by Egypt (X tons), Iran (X tons), Oman (X tons) and Bahrain (X tons), together comprising a 42% share of total exports. Turkey (X tons) and the United Arab Emirates (X tons) took a minor share of total exports.

Algeria was also the fastest-growing in terms of the anhydrous ammonia exports, with a CAGR of +20.7% from 2012 to 2022. At the same time, Egypt (+18.8%), Bahrain (+13.8%), the United Arab Emirates (+7.3%) and Oman (+6.8%) displayed positive paces of growth. By contrast, Turkey (-2.3%) and Iran (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Algeria, Egypt and Bahrain increased by +34, +16 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ammonia supplying countries in MENA were Algeria ($X), Egypt ($X) and Bahrain ($X), with a combined 78% share of total exports.

Among the main exporting countries, Egypt, with a CAGR of +19.7%, saw 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 export price in MENA amounted to $X per ton, with an increase of 10% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 49% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+7.9%), while the other leaders experienced more modest paces of growth.

Ammonia Imports

Imports in MENA

Ammonia imports skyrocketed to X tons in 2022, growing by 90% against the year before. Overall, imports posted a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ammonia imports soared to $X in 2022. In general, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Morocco represented the key importing country with an import of about X tons, which finished at 63% of total imports. Turkey (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Israel (6.9%) and Jordan (5.3%). Tunisia (X tons) followed a long way behind the leaders.

Imports into Morocco increased at an average annual rate of +18.2% from 2012 to 2022. At the same time, Jordan (+59.7%), Israel (+14.7%) and Turkey (+8.6%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in MENA, with a CAGR of +59.7% from 2012-2022. By contrast, Tunisia (-2.7%) illustrated a downward trend over the same period. Morocco (+19 p.p.) and Jordan (+5.3 p.p.) significantly strengthened its position in terms of the total imports, while Tunisia and Turkey saw its share reduced by -10.8% and -13.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) constitutes the largest market for imported anhydrous ammonia in MENA, comprising 64% of total imports. The second position in the ranking was held by Turkey ($X), with a 26% share of total imports. It was followed by Jordan, with a 4.6% share.

In Morocco, ammonia imports expanded at an average annual rate of +17.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+10.6% per year) and Jordan (+69.2% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, rising by 19% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 41% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+5.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform