Portugal: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Portugal

The Portuguese diammonium phosphate market reduced markedly to $X in 2022, waning by -27.7% against the previous year. Overall, consumption continues to indicate a noticeable contraction. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Diammonium Phosphate Production in Portugal

In value terms, diammonium phosphate production totaled $X in 2022 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 -1.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 80% against the previous year. Diammonium phosphate production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Diammonium Phosphate Exports

Exports from Portugal

Diammonium phosphate exports from Portugal skyrocketed to X tons in 2022, growing by 243% against 2021 figures. In general, exports posted a significant increase. The growth pace was the most rapid in 2014 when exports increased by 12,483% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, diammonium phosphate exports surged to $X in 2022. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 16,109%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Spain (X tons) was the main destination for diammonium phosphate exports from Portugal, accounting for a 99% share of total exports. It was followed by Angola (X tons), with a 0.5% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled +99.0%.

In value terms, Spain ($X) remains the key foreign market for diammonium phosphate exports from Portugal, comprising 99% of total exports. The second position in the ranking was taken by Angola ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +84.0%.

Export Prices by Country

In 2022, the average diammonium phosphate export price amounted to $X per ton, picking up by 41% against the previous year. Over the period under review, the export price, however, recorded a noticeable setback. The growth pace was the most rapid in 2013 when the average export price increased by 41%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Spain amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+3.1%).

Diammonium Phosphate Imports

Imports into Portugal

In 2022, the amount of diammonium phosphate imported into Portugal dropped rapidly to X tons, which is down by -44.2% on the previous year. Over the period under review, imports showed a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 73%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, diammonium phosphate imports dropped to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 74%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Morocco (X tons) constituted the largest supplier of diammonium phosphate to Portugal, accounting for a 58% share of total imports. Moreover, diammonium phosphate imports from Morocco exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Morocco totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+5.5% per year) and Spain (-21.1% per year).

In value terms, Morocco ($X), Egypt ($X) and Spain ($X) were the largest diammonium phosphate suppliers to Portugal, together accounting for 99% of total imports.

Among the main suppliers, Egypt, with a CAGR of +16.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average diammonium phosphate import price stood at $X per ton in 2022, increasing by 63% against the previous year. Overall, the import price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 83%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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