Portugal: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Portugal

The Portuguese monoammonium phosphate market rose slightly to $X in 2022, with an increase of 4.2% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Monoammonium Phosphate Production in Portugal

In value terms, monoammonium phosphate production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 62%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Monoammonium Phosphate Exports

Exports from Portugal

For the fifth year in a row, Portugal recorded growth in shipments abroad of monoammonium phosphate (MAP), which increased by 27% to X tons in 2022. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 3,740%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, monoammonium phosphate exports soared to $X in 2022. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2013 when exports increased by 3,798%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France (X tons) was the main destination for monoammonium phosphate exports from Portugal, accounting for a 84% share of total exports. Moreover, monoammonium phosphate exports to France exceeded the volume sent to the second major destination, Spain (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to France amounted to +150.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+159.6% per year) and Belgium (+49.8% per year).

In value terms, France ($X) remains the key foreign market for monoammonium phosphate (MAP) exports from Portugal, comprising 84% of total exports. The second position in the ranking was taken by Spain ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value to France stood at +182.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+123.7% per year) and Belgium (+73.5% per year).

Export Prices by Country

The average monoammonium phosphate export price stood at $X per ton in 2022, growing by 87% against the previous year. Overall, the export price, however, recorded a abrupt slump. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+15.8%), while the prices for the other major destinations experienced mixed trend patterns.

Monoammonium Phosphate Imports

Imports into Portugal

In 2022, approx. X tons of monoammonium phosphate (MAP) were imported into Portugal; jumping by 84% compared with the year before. Overall, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 339% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, monoammonium phosphate imports surged to $X in 2022. In general, imports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 193% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Morocco (X tons) constituted the largest monoammonium phosphate supplier to Portugal, accounting for a 72% share of total imports. Moreover, monoammonium phosphate imports from Morocco exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Morocco totaled +82.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-17.8% per year) and Tunisia (-36.6% per year).

In value terms, Morocco ($X), Spain ($X) and Tunisia ($X) were the largest monoammonium phosphate suppliers to Portugal, with a combined 100% share of total imports.

Morocco, with a CAGR of +20.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average monoammonium phosphate import price amounted to $X per ton, picking up by 6.5% against the previous year. In general, the import price enjoyed tangible growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by 66% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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