Russian Federation: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in the Russian Federation

The Russian potassium hydroxide market shrank to $X in 2022, which is down by -7.7% against the previous year. Over the period under review, consumption, however, saw moderate growth. Potassium hydroxide consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Potassium Hydroxide Production in the Russian Federation

In value terms, potassium hydroxide production contracted to $X in 2022 estimated in export price. In general, production, however, saw a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 53%. Potassium hydroxide production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Potassium Hydroxide Exports

Exports from the Russian Federation

In 2022, shipments abroad of potassium hydroxide (caustic potash) was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports showed a buoyant increase. The pace of growth was the most pronounced in 2016 when exports increased by 205% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, potassium hydroxide exports shrank slightly to $X in 2022. Overall, exports showed a buoyant expansion. The growth pace was the most rapid in 2016 when exports increased by 158% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

British Virgin Islands (X tons), Ukraine (X tons) and Latvia (X tons) were the main destinations of potassium hydroxide exports from Russia, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +94.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potassium hydroxide exported from Russia were Ukraine ($X), British Virgin Islands ($X) and Latvia ($X), with a combined 95% share of total exports.

Among the main countries of destination, Latvia, with a CAGR of +100.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average potassium hydroxide export price amounted to $X per ton, dropping by -8.4% against the previous year. In general, the export price showed a slight slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 19%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and Ukraine ($X per ton), while the average price for exports to British Virgin Islands ($X per ton) and Latvia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Hydroxide Imports

Imports into the Russian Federation

In 2022, after two years of decline, there was growth in supplies from abroad of potassium hydroxide (caustic potash), when their volume increased by 0.2% to X tons. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, potassium hydroxide imports fell to $X in 2022. Overall, imports showed a pronounced expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 61%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belarus (X tons) constituted the largest potassium hydroxide supplier to Russia, accounting for a 63% share of total imports. Moreover, potassium hydroxide imports from Belarus exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Belarus stood at +163.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.2% per year) and the Czech Republic (+23.1% per year).

In value terms, Belarus ($X) constituted the largest supplier of potassium hydroxide (caustic potash) to Russia, comprising 64% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by the Czech Republic, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belarus totaled +173.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-6.7% per year) and the Czech Republic (+17.7% per year).

Import Prices by Country

In 2022, the average potassium hydroxide import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price recorded a pronounced curtailment. The growth pace was the most rapid in 2019 an increase of 8.8%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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