MENA: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in MENA

In 2022, the MENA's potassium hydroxide market increased by 9.3% to $X, rising for the fifth consecutive year after three years of decline. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +108.0% against 2017 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Potassium Hydroxide Production in MENA

In value terms, potassium hydroxide production stood at $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 34%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Potassium Hydroxide Exports

Exports in MENA

In 2022, shipments abroad of potassium hydroxide (caustic potash) decreased by -31.4% to X tons, falling for the third consecutive year after two years of growth. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 64% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, potassium hydroxide exports soared to $X in 2022. The total export value increased at an average annual rate of +5.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 40% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Jordan was the largest exporting country with an export of about X tons, which recorded 87% of total exports. It was distantly followed by Turkey (X tons), mixing up a 10% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to potassium hydroxide exports from Jordan stood at -9.6%. At the same time, Turkey (+36.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +36.5% from 2012-2022. Turkey (+9.8 p.p.) significantly strengthened its position in terms of the total exports, while Jordan saw its share reduced by -11.5% from 2012 to 2022, respectively.

In value terms, Jordan ($X) remains the largest potassium hydroxide supplier in MENA, comprising 92% of total exports. The second position in the ranking was taken by Turkey ($X), with a 6.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Jordan amounted to +4.9%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, picking up by 76% against the previous year. In general, the export price enjoyed a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+16.0%).

Potassium Hydroxide Imports

Imports in MENA

In 2022, supplies from abroad of potassium hydroxide (caustic potash) decreased by -9.6% to X tons for the first time since 2017, thus ending a four-year rising trend. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 36%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium hydroxide imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Israel (X tons) represented the main importer of potassium hydroxide (caustic potash), committing 63% of total imports. Turkey (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together took near 28% share of total imports. Egypt (X tons) and Morocco (X tons) held a little share of total imports.

Imports into Israel increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, the United Arab Emirates (+17.0%), Turkey (+4.5%) and Morocco (+2.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +17.0% from 2012-2022. By contrast, Egypt (-1.0%) illustrated a downward trend over the same period. While the share of Israel (+7.7 p.p.), the United Arab Emirates (+3.4 p.p.) and Turkey (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Egypt (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported potassium hydroxide (caustic potash) in MENA, comprising 68% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports. It was followed by the United Arab Emirates, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel stood at +11.4%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+9.5% per year) and the United Arab Emirates (+13.0% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, growing by 85% against the previous year. In general, the import price posted a pronounced expansion. 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 Morocco ($X per ton), while the United Arab Emirates ($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 (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform