Serbia: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Serbia

The Serbian diammonium phosphate market fell remarkably to $X in 2022, reducing by -19.8% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Diammonium Phosphate Production in Serbia

In value terms, diammonium phosphate production contracted to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 48% against the previous year. Diammonium phosphate production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Diammonium Phosphate Exports

Exports from Serbia

After two years of growth, overseas shipments of diammonium phosphate decreased by -98.6% to X tons in 2022. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 1,262,500%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, diammonium phosphate exports contracted rapidly to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,010,193% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Albania (X tons) was the main destination for diammonium phosphate exports from Serbia, accounting for a 68% share of total exports. Moreover, diammonium phosphate exports to Albania exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Albania amounted to -70.0%.

In value terms, the largest markets for diammonium phosphate exported from Serbia were Bosnia and Herzegovina ($X) and Albania ($X).

Bosnia and Herzegovina, with a CAGR of -21.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average diammonium phosphate export price amounted to $X per ton, jumping by 115% against the previous year. In general, the export price, however, saw a deep setback. The pace of growth was the most pronounced in 2014 an increase of 1,409%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Albania amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+58.8%), while the prices for the other major destinations experienced more modest paces of growth.

Diammonium Phosphate Imports

Imports into Serbia

In 2022, supplies from abroad of diammonium phosphate decreased by -99.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a dramatic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 149,955% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank dramatically in the following year.

In value terms, diammonium phosphate imports reduced dramatically to $X in 2022. Over the period under review, imports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 12,251% against the previous year. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest diammonium phosphate supplier to Serbia, accounting for a 85% share of total imports. Moreover, diammonium phosphate imports from China exceeded the figures recorded by the second-largest supplier, Greece (X tons), more than tenfold. The third position in this ranking was taken by France (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (0.0% per year) and France (+35.1% per year).

In value terms, China ($X) constituted the largest supplier of diammonium phosphate to Serbia, comprising 65% of total imports. The second position in the ranking was held by France ($X), with a 15% share of total imports. It was followed by Greece, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+33.0% per year) and Greece (0.0% per year).

Import Prices by Country

The average diammonium phosphate import price stood at $X per ton in 2022, jumping by 354% against the previous year. Overall, the import price recorded temperate growth. The growth pace was the most rapid in 2018 when the average import price increased by 1,607% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+43.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform