Middle East: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in the Middle East

In 2022, the Middle Eastern monoammonium phosphate market decreased by -1.3% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Monoammonium Phosphate Production in the Middle East

In value terms, monoammonium phosphate production dropped slightly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 -7.8% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 66% against the previous year. 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 the Middle East

In 2022, exports of monoammonium phosphate (MAP) in the Middle East shrank to X tons, declining by -11.9% on 2021. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 275%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, monoammonium phosphate exports shrank markedly to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 231%. Over the period under review, the exports hit record highs at $X in 2021, and then declined notably in the following year.

Exports by Country

Saudi Arabia dominates exports structure, resulting at X tons, which was approx. 96% of total exports in 2022. The following exporters - Israel (X tons) and the United Arab Emirates (X tons) - each accounted for a 3% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the monoammonium phosphate (MAP) exports, with a CAGR of +42.4% from 2012 to 2022. At the same time, the United Arab Emirates (+21.5%) displayed positive paces of growth. By contrast, Israel (-9.2%) illustrated a downward trend over the same period. Saudi Arabia (+61 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -49.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest monoammonium phosphate supplier in the Middle East, comprising 93% of total exports. The second position in the ranking was held by Israel ($X), with a 3.9% share of total exports.

In Saudi Arabia, monoammonium phosphate exports increased at an average annual rate of +38.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (-9.1% per year) and the United Arab Emirates (+23.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with a decrease of -18.4% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2021 an increase of 87% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.6%), while the other leaders experienced mixed trends in the export price figures.

Monoammonium Phosphate Imports

Imports in the Middle East

In 2022, purchases abroad of monoammonium phosphate (MAP) decreased by -35.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 37%. Over the period under review, imports hit record highs at X tons in 2021, and then fell sharply in the following year.

In value terms, monoammonium phosphate imports surged to $X in 2022. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 71%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons) represented the largest importer of monoammonium phosphate (MAP), achieving 64% of total imports. It was distantly followed by Israel (X tons) and the United Arab Emirates (X tons), together creating a 26% share of total imports. Jordan (X tons) and Iran (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to monoammonium phosphate imports into Turkey stood at +3.1%. At the same time, the United Arab Emirates (+26.4%), Israel (+18.4%), Iran (+12.3%) and Jordan (+1.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +26.4% from 2012-2022. Israel (+11 p.p.) and the United Arab Emirates (+8.8 p.p.) significantly strengthened its position in terms of the total imports, while Jordan and Turkey saw its share reduced by -1.6% and -10.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in the Middle East, comprising 72% of total imports. The second position in the ranking was held by Israel ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 5% share.

In Turkey, monoammonium phosphate imports increased at an average annual rate of +9.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+25.4% per year) and the United Arab Emirates (+18.5% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, picking up by 81% against the previous year. In general, the import price posted a tangible increase. 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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