Middle East: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in the Middle East

In 2021, after five years of growth, there was significant decline in the Middle Eastern ammonium nitrate market, when its value decreased by -7.3% to $X. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +116.9% against 2012 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Ammonium Nitrate Production in the Middle East

In value terms, ammonium nitrate production reduced to $X in 2021 estimated in export price. Overall, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 17% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Ammonium Nitrate Exports

Exports in the Middle East

Ammonium nitrate exports skyrocketed to X tons in 2021, growing by 24% on the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ammonium nitrate exports reached $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +63.9% against 2013 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman was the largest exporter of ammonium nitrate in the Middle East, with the volume of exports amounting to X tons, which was approx. 63% of total exports in 2021. Saudi Arabia (X tons) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (11%).

Oman was also the fastest-growing in terms of the ammonium nitrate exports, with a CAGR of +58.0% from 2012 to 2021. Turkey experienced a relatively flat trend pattern. Saudi Arabia (-10.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Oman increased by +61 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest ammonium nitrate supplier in the Middle East, comprising 76% of total exports. The second position in the ranking was held by Oman ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to +5.1%. In the other countries, the average annual rates were as follows: Oman (+53.8% per year) and Turkey (-2.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, falling by -7.7% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ammonium nitrate export price increased by +5.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 22% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+18.0%), while the other leaders experienced a decline in the export price figures.

Ammonium Nitrate Imports

Imports in the Middle East

In 2021, the amount of ammonium nitrate imported in the Middle East reduced slightly to X tons, dropping by -2.8% against the previous year. In general, imports faced a abrupt decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 27%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, ammonium nitrate imports soared to $X in 2021. Over the period under review, imports showed a deep setback. The pace of growth was the most pronounced in 2013 when imports increased by 23%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Israel (X tons), Turkey (X tons), Jordan (X tons), the United Arab Emirates (X tons) and Oman (X tons) were the largest importers of ammonium nitrate, together constituting 97% of total imports. Syrian Arab Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +4.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Israel ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 63% share of total imports. The United Arab Emirates, Jordan, Oman and Syrian Arab Republic lagged somewhat behind, together comprising a further 36%.

Oman, with a CAGR of +4.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, surging by 25% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Oman ($X per ton) and the United Arab Emirates ($X per ton), while Syrian Arab Republic ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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