Saudi Arabia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Saudi Arabia

In 2021, the Saudi ammonium nitrate market decreased by -5.2% to $X for the first time since 2011, thus ending a nine-year rising trend. In general, consumption saw a strong increase. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Ammonium Nitrate Production in Saudi Arabia

In value terms, ammonium nitrate production fell to $X in 2021 estimated in export price. In general, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18%. Ammonium nitrate production peaked at $X in 2020, and then dropped in the following year.

Ammonium Nitrate Exports

Exports from Saudi Arabia

For the ninth year in a row, Saudi Arabia recorded decline in overseas shipments of ammonium nitrate, which decreased by -10.9% to X tons in 2021. In general, exports recorded a deep setback. The smallest decline of -10.9% was in 2020. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ammonium nitrate exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 5.1%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

South Korea (X tons) was the main destination for ammonium nitrate exports from Saudi Arabia, accounting for a 64% share of total exports. Moreover, ammonium nitrate exports to South Korea exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fivefold. India (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-11.3% per year) and India (-19.7% per year).

In value terms, South Korea ($X) remains the key foreign market for ammonium nitrate exports from Saudi Arabia, comprising 65% of total exports. The second position in the ranking was held by Thailand ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea totaled +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+8.7% per year) and Taiwan (Chinese) (-0.2% per year).

Export Prices by Country

In 2021, the average ammonium nitrate export price amounted to $X per ton, picking up by 18% against the previous year. In general, the export price posted a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+41.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Saudi Arabia

In 2021, ammonium nitrate imports into Saudi Arabia rose to X tons, increasing by 2.9% compared with the previous year. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 25% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ammonium nitrate imports surged to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Egypt (X tons) constituted the largest supplier of ammonium nitrate to Saudi Arabia, with a 81% share of total imports. Moreover, ammonium nitrate imports from Egypt exceeded the figures recorded by the second-largest supplier, Sweden (X tons), sevenfold. Russia (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from Egypt amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+32.0% per year) and Russia (-1.4% per year).

In value terms, Egypt ($X) constituted the largest supplier of ammonium nitrate to Saudi Arabia, comprising 77% of total imports. The second position in the ranking was taken by Sweden ($X), with a 14% share of total imports. It was followed by Russia, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Egypt was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+29.2% per year) and Russia (-4.3% per year).

Import Prices by Country

The average ammonium nitrate import price stood at $X per ton in 2021, picking up by 16% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Sweden ($X per ton) and Russia ($X per ton), while the price for Egypt ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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