MENA: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2024

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in MENA

The MENA's market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution soared to $X in 2022, jumping by 18% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +72.9% against 2014 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in MENA

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution rose to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 16%. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a lower figure.

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports in MENA

In 2022, the amount of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exported in MENA contracted notably to X tons, which is down by -52.9% compared with the year before. Over the period under review, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 247% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution declined notably to $X in 2022. Overall, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 386% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X tons) and Turkey (X tons) dominates solution structure, together achieving 81% of total exports. It was distantly followed by Israel (X tons), comprising an 8.3% share of total exports. The following exporters - the United Arab Emirates (X tons), Iran (X tons) and Saudi Arabia (X tons) - together made up 11% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +204.7%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the largest mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution supplier in MENA, comprising 55% of total exports. The second position in the ranking was held by Egypt ($X), with a 27% share of total exports. It was followed by Israel, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +162.6%. In the other countries, the average annual rates were as follows: Egypt (-22.9% per year) and Israel (+15.3% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, standing approx. at the previous year. In general, the export price, however, recorded a mild decrease. The growth pace was the most rapid in 2021 when the export price increased by 40%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (-0.3%), while the other leaders experienced a decline in the export price figures.

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports in MENA

For the third consecutive year, MENA recorded growth in overseas purchases of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution, which increased by 96% to X tons in 2022. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 190%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution surged to $X in 2022. In general, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons) and Israel (X tons) prevails in solution structure, together mixing up 87% of total imports. Palestine (X tons) ranks next in terms of the total imports with a 6.4% share, followed by Kuwait (5.5%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of +79.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in MENA, comprising 67% of total imports. The second position in the ranking was taken by Israel ($X), with a 25% share of total imports. It was followed by Palestine, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +40.1%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+33.6% per year) and Palestine (+13.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, growing by 43% against the previous year. In general, the import price, however, continues to indicate a perceptible downturn. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Palestine (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform