Slovakia: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Slovakia

The Slovak potassium sulphate (SOP) market reduced dramatically to $X in 2022, which is down by -15.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Potassium Sulphate (Sop) Exports

Exports from Slovakia

In 2022, overseas shipments of potassium sulphate (SOP) decreased by -7% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 423%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports skyrocketed to $X in 2022. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 493% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The Czech Republic (X tons) was the main destination for potassium sulphate (SOP) exports from Slovakia, accounting for a 72% share of total exports. Moreover, potassium sulphate (SOP) exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic totaled +5.9%.

In value terms, the Czech Republic ($X) remains the key foreign market for potassium sulphate (SOP) exports from Slovakia, comprising 67% of total exports. The second position in the ranking was held by Hungary ($X), with a 33% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic stood at +15.9%.

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, with an increase of 94% against the previous year. Overall, the export price enjoyed a resilient expansion. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to the Czech Republic amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+9.5%).

Potassium Sulphate (Sop) Imports

Imports into Slovakia

In 2022, the amount of potassium sulphate (SOP) imported into Slovakia contracted significantly to X tons, which is down by -18.1% on the previous year. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 87% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports shrank to $X in 2022. Overall, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2018 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Belgium (X tons) and the Czech Republic (X tons) were the main suppliers of potassium sulphate (SOP) imports to Slovakia, with a combined 61% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +24.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Belgium ($X) and the Czech Republic ($X) appeared to be the largest potassium sulphate (SOP) suppliers to Slovakia, with a combined 79% share of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, growing by 7.5% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) import price increased by +51.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 46% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 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 Belgium ($X per ton), while the price for Poland ($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 (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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