Serbia: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Serbia

The Serbian monoammonium phosphate market skyrocketed to $X in 2022, rising by 24% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Monoammonium Phosphate Production in Serbia

In value terms, monoammonium phosphate production fell significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 506%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports from Serbia

In 2022, overseas shipments of monoammonium phosphate (MAP) decreased by -7.5% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 339% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, monoammonium phosphate exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 300% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Chile (X tons), Ecuador (X tons) and the Netherlands (X tons) were the main destinations of monoammonium phosphate exports from Serbia, together comprising 54% of total exports. Hungary, Bosnia and Herzegovina, Greece, Australia, Poland, Germany, Belgium, Denmark and Croatia lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +1,200.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for monoammonium phosphate exported from Serbia were Chile ($X), Ecuador ($X) and the Netherlands ($X), with a combined 60% share of total exports. Hungary, Greece, Australia, Bosnia and Herzegovina, Poland, Germany, Belgium, Denmark and Croatia lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, Belgium, with a CAGR of +2,150.6%, 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

The average monoammonium phosphate export price stood at $X per ton in 2022, jumping by 88% against the previous year. Overall, the export price saw a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Chile ($X per ton), while the average price for exports to Hungary ($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 Poland (+86.0%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Serbia

In 2022, imports of monoammonium phosphate (MAP) into Serbia skyrocketed to X tons, increasing by 30% on the previous year's figure. Overall, imports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 when imports increased by 134%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, monoammonium phosphate imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2020 with an increase of 80%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) was the main supplier of monoammonium phosphate to Serbia, accounting for a 92% share of total imports. Moreover, monoammonium phosphate imports from Russia exceeded the figures recorded by the second-largest supplier, Tunisia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled -9.9%.

In value terms, Russia ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Serbia, comprising 82% of total imports. The second position in the ranking was held by Tunisia ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to -12.7%.

Import Prices by Country

The average monoammonium phosphate import price stood at $X per ton in 2022, increasing by 11% against the previous year. In general, the import price, however, saw a noticeable decline. The growth pace was the most rapid in 2021 when the average import price increased by 50% 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 Tunisia ($X per ton), while the price for Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-3.2%).

Source: IndexBox Platform