Spain: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Spain

The Spanish monoammonium phosphate market soared to $X in 2022, increasing by 40% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.9% 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 +74.8% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Monoammonium Phosphate Production in Spain

In value terms, monoammonium phosphate production rose to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 8.1%. Monoammonium phosphate production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports from Spain

Monoammonium phosphate exports from Spain surged to X tons in 2022, growing by 127% against 2021 figures. Over the period under review, exports recorded a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, monoammonium phosphate exports skyrocketed to $X in 2022. Overall, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) was the main destination for monoammonium phosphate exports from Spain, with a 55% share of total exports. Moreover, monoammonium phosphate exports to Argentina exceeded the volume sent to the second major destination, Romania (X tons), fourfold. The third position in this ranking was held by France (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina stood at +137.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+179.2% per year) and France (+0.5% per year).

In value terms, Argentina ($X) emerged as the key foreign market for monoammonium phosphate (MAP) exports from Spain, comprising 55% of total exports. The second position in the ranking was taken by Romania ($X), with an 11% share of total exports. It was followed by France, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to Argentina amounted to +143.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+120.7% per year) and France (+3.1% per year).

Export Prices by Country

The average monoammonium phosphate export price stood at $X per ton in 2022, increasing by 50% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoammonium phosphate export price increased by +108.1% against 2020 indices. 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 Uruguay ($X per ton), while the average price for exports to Madagascar ($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 Madagascar (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Spain

In 2022, imports of monoammonium phosphate (MAP) into Spain soared to X tons, increasing by 19% on the previous year's figure. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, monoammonium phosphate imports surged to $X in 2022. Over the period under review, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Morocco (X tons), China (X tons) and Belgium (X tons) were the main suppliers of monoammonium phosphate imports to Spain, together accounting for 84% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +52.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Spain, comprising 45% of total imports. The second position in the ranking was held by Belgium ($X), with a 17% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Morocco amounted to +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.0% per year) and China (+46.9% per year).

Import Prices by Country

In 2022, the average monoammonium phosphate import price amounted to $X per ton, jumping by 43% against the previous year. In general, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monoammonium phosphate import price increased by +108.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 45%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 Israel ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+31.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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