MENA: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in MENA

In 2021, the MENA's sodium phosphates market decreased by -1% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption continues to indicate a slight decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Sodium Phosphates Production in MENA

In value terms, sodium phosphates production reached $X in 2021 estimated in export price. Over the period under review, production recorded a mild reduction. The most prominent rate of growth was recorded in 2019 with an increase of 8.7%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Sodium Phosphates Exports

Exports in MENA

In 2021, overseas shipments of phosphates of mono- or di-sodium increased by 19% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2014 when exports increased by 46%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, sodium phosphates exports skyrocketed to $X in 2021. In general, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 41% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Jordan represented the main exporting country with an export of around X tons, which reached 72% of total exports. Israel (X tons) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Tunisia (5.4%). Morocco (X tons), Turkey (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) held a little share of total exports.

Jordan was also the fastest-growing in terms of the phosphates of mono- or di-sodium exports, with a CAGR of +51.9% from 2012 to 2021. At the same time, Morocco (+43.6%), the United Arab Emirates (+21.1%), Turkey (+10.7%) and Saudi Arabia (+3.4%) displayed positive paces of growth. By contrast, Tunisia (-23.2%) and Israel (-26.5%) illustrated a downward trend over the same period. While the share of Jordan (+71 p.p.), Morocco (+3.6 p.p.), Turkey (+2.5 p.p.) and Saudi Arabia (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Tunisia (-13.7 p.p.) and Israel (-45.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Jordan ($X) remains the largest sodium phosphates supplier in MENA, comprising 64% of total exports. The second position in the ranking was taken by Israel ($X), with a 15% share of total exports. It was followed by Turkey, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value in Jordan stood at +45.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (-23.6% per year) and Turkey (+18.4% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, increasing by 8.6% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sodium phosphates export price increased by +100.3% against 2017 indices. The pace of growth was the most pronounced in 2016 when the export price increased by 59%. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.9%), while the other leaders experienced mixed trends in the export price figures.

Sodium Phosphates Imports

Imports in MENA

In 2021, supplies from abroad of phosphates of mono- or di-sodium decreased by -11.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 24%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, sodium phosphates imports rose remarkably to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 27%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

Turkey (X tons) and Egypt (X tons) represented roughly 46% of total imports in 2021. Tunisia (X tons) ranks next in terms of the total imports with a 13% share, followed by Bahrain (11%), Iran (6.5%), Israel (6.3%) and the United Arab Emirates (5.1%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Egypt (with a CAGR of +14.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Egypt ($X) and Tunisia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 61% share of total imports.

In terms of the main importing countries, Egypt, with a CAGR of +17.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +6.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform