MENA: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in MENA

The MENA's monoammonium phosphate market rose rapidly to $X in 2022, increasing by 7% against the previous year. The market value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the near future.

Monoammonium Phosphate Production in MENA

In value terms, monoammonium phosphate production declined to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Monoammonium Phosphate Exports

Exports in MENA

In 2022, approx. X tons of monoammonium phosphate (MAP) were exported in MENA; shrinking by -29.4% on the year before. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 62%. The volume of export peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, monoammonium phosphate exports fell to $X in 2022. Over the period under review, exports, however, showed strong growth. The growth pace was the most rapid in 2021 when exports increased by 102%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Morocco represented the key exporting country with an export of about X tons, which amounted to 61% of total exports. It was distantly followed by Saudi Arabia (X tons), achieving a 34% share of total exports. Egypt (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Egypt (with a CAGR of +46.7%), while the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X) remains the largest monoammonium phosphate supplier in MENA, comprising 72% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 21% share of total exports.

In Morocco, monoammonium phosphate exports expanded at an average annual rate of +9.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+38.7% per year) and Egypt (+51.2% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, jumping by 29% against the previous year. Over the period under review, the export price posted noticeable growth. The pace of growth appeared the most rapid in 2021 an increase of 59% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Monoammonium Phosphate Imports

Imports in MENA

In 2022, supplies from abroad of monoammonium phosphate (MAP) decreased by -25.2% to X tons, falling for the second year in a row after two years of growth. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 47% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports skyrocketed to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.3% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 26%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Turkey was the key importer of monoammonium phosphate (MAP) in MENA, with the volume of imports recording X tons, which was near 48% of total imports in 2022. It was distantly followed by Algeria (X tons), Israel (X tons) and the United Arab Emirates (X tons), together achieving a 40% share of total imports. The following importers - Egypt (X tons), Jordan (X tons) and Iran (X tons) - together made up 9.2% of total imports.

Imports into Turkey increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, the United Arab Emirates (+26.4%), Israel (+18.4%), Iran (+12.3%), Algeria (+7.6%), Egypt (+3.2%) and Jordan (+1.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +26.4% from 2012-2022. From 2012 to 2022, the share of Israel, the United Arab Emirates and Algeria increased by +8.5, +6.5 and +5.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in MENA, comprising 62% of total imports. The second position in the ranking was taken by Israel ($X), with a 13% share of total imports. It was followed by Algeria, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +9.9%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+25.4% per year) and Algeria (+3.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by 60% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoammonium phosphate import price increased by +119.4% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform