Middle East: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in the Middle East

The Middle Eastern diammonium phosphate market contracted remarkably to $X in 2022, with a decrease of -22.9% against the previous year. Over the period under review, consumption showed a noticeable setback. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Diammonium Phosphate Production in the Middle East

In value terms, diammonium phosphate production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible descent. The growth pace was the most rapid in 2018 with an increase of 11%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Diammonium Phosphate Exports

Exports in the Middle East

In 2022, exports of diammonium phosphate in the Middle East soared to X tons, jumping by 21% on the year before. Overall, exports posted buoyant growth. The growth pace was the most rapid in 2013 with an increase of 84% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, diammonium phosphate exports dropped modestly to $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 79% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, reaching X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Turkey (X tons), comprising a 5.4% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the diammonium phosphate exports, with a CAGR of +11.3% from 2012 to 2022. At the same time, Turkey (+6.4%) displayed positive paces of growth. Saudi Arabia (+4.6 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -2.6% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest diammonium phosphate supplier in the Middle East, comprising 87% of total exports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled +9.7%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with a decrease of -19.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 70%. As a result, the export price reached the peak level of $X per ton, and then dropped notably in the following year.

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 Turkey ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.1%).

Diammonium Phosphate Imports

Imports in the Middle East

In 2022, approx. X tons of diammonium phosphate were imported in the Middle East; dropping by -13.1% compared with 2021 figures. Overall, imports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 55%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, diammonium phosphate imports expanded to $X in 2022. In general, imports recorded a slight reduction. The growth pace was the most rapid in 2019 when imports increased by 30%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) represented the main importer of diammonium phosphate, comprising 65% of total imports. It was distantly followed by Iraq (X tons), making up a 32% share of total imports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to diammonium phosphate imports into Turkey stood at -4.9%. At the same time, Iraq (+37.8%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +37.8% from 2012-2022. By contrast, Iran (-23.0%) illustrated a downward trend over the same period. Iraq (+31 p.p.) significantly strengthened its position in terms of the total imports, while Turkey and Iran saw its share reduced by -14.4% and -16.9% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported diammonium phosphate in the Middle East, comprising 79% of total imports. The second position in the ranking was taken by Iraq ($X), with a 19% share of total imports.

In Turkey, diammonium phosphate imports plunged by an average annual rate of -1.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (+30.8% per year) and Iran (-25.4% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, picking up by 17% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, diammonium phosphate import price increased by +109.5% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 79% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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 ($X per ton), while Iran ($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 (+3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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