Saudi Arabia: Fertilizer Market 2024

Fertilizer Market Size in Saudi Arabia

After five years of growth, the Saudi fertilizer market decreased by X% to $X in 2022. In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Fertilizer consumption peaked at $X in 2021, and then reduced in the following year.

Fertilizer Production in Saudi Arabia

In value terms, fertilizer production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Fertilizer Exports

Exports from Saudi Arabia

In 2022, fertilizer exports from Saudi Arabia skyrocketed to X tons, growing by X% against the year before. Overall, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, fertilizer exports stood at $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X tons), the United States (X tons) and Brazil (X tons) were the main destinations of fertilizer exports from Saudi Arabia, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for fertilizers exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average fertilizer export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then fell sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Thailand ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Saudi Arabia

In 2022, the amount of fertilizers imported into Saudi Arabia dropped markedly to X tons, waning by X% against the previous year's figure. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, fertilizer imports declined dramatically to $X in 2022. Over the period under review, imports showed a mild contraction. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Jordan (X tons) constituted the largest supplier of fertilizer to Saudi Arabia, accounting for a X% share of total imports. Moreover, fertilizer imports from Jordan exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Jordan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Germany (X% per year).

In value terms, the largest fertilizer suppliers to Saudi Arabia were Jordan ($X), Egypt ($X) and Germany ($X), with a combined X% share of total imports. Chile, Sweden, China, Belgium, South Korea, Russia and Latvia lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price showed a deep downturn. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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