Northern America: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Northern America

After two years of growth, the North American potassium sulphate (SOP) market decreased by -0.6% to $X in 2022. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Potassium Sulphate (Sop) Production in Northern America

In value terms, potassium sulphate (SOP) production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 40%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports in Northern America

In 2022, after two years of decline, there was significant growth in shipments abroad of potassium sulphate (SOP), when their volume increased by 31% to X tons. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 53% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports surged to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.2% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States was the major exporting country with an export of about X tons, which accounted for 63% of total exports. It was distantly followed by Canada (X tons), achieving a 37% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +1.7%).

In value terms, the United States ($X) and Canada ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, the United States, with a CAGR of +3.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, with an increase of 29% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) export price increased by +47.0% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 36%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%).

Potassium Sulphate (Sop) Imports

Imports in Northern America

In 2022, the amount of potassium sulphate (SOP) imported in Northern America amounted to X tons, increasing by 1.9% on 2021. Total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.5% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 46% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, potassium sulphate (SOP) imports soared to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +120.2% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States represented the largest importing country with an import of around X tons, which resulted at 86% of total imports. It was distantly followed by Canada (X tons), creating a 14% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to potassium sulphate (SOP) imports into the United States stood at +1.6%. At the same time, Canada (+4.5%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.5% from 2012-2022. While the share of Canada (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-3.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported potassium sulphate (SOP) in Northern America, comprising 81% of total imports. The second position in the ranking was held by Canada ($X), with a 19% share of total imports.

In the United States, potassium sulphate (SOP) imports expanded at an average annual rate of +4.4% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, growing by 33% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 2018 when the import price increased by 45% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.0%).

Source: IndexBox Platform

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