Sweden: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Sweden

The Swedish potassium sulphate (SOP) market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, saw a abrupt downturn. Potassium sulphate (SOP) consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Potassium Sulphate (Sop) Production in Sweden

In value terms, potassium sulphate (SOP) production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 20%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports from Sweden

After two years of growth, overseas shipments of potassium sulphate (SOP) decreased by -14.8% to X tons in 2022. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +21.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 59%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, potassium sulphate (SOP) exports rose remarkably to $X in 2022. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 61% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Norway (X tons), Belgium (X tons) and Chile (X tons) were the main destinations of potassium sulphate (SOP) exports from Sweden, together comprising 77% of total exports.

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 +175.7%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Belgium ($X) and Chile ($X) appeared to be the largest markets for potassium sulphate (SOP) exported from Sweden worldwide, with a combined 63% share of total exports.

Belgium, with a CAGR of +143.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, rising by 34% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% 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) export price increased by +43.9% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Azerbaijan ($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 Chile (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports into Sweden

In 2022, the amount of potassium sulphate (SOP) imported into Sweden stood at X tons, surging by 7.4% compared with the year before. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 84% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, potassium sulphate (SOP) imports surged to $X in 2022. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest potassium sulphate (SOP) supplier to Sweden, with a 70% share of total imports. Moreover, potassium sulphate (SOP) imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. The third position in this ranking was held by Norway (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+40.4% per year) and Norway (+18.7% per year).

In value terms, Germany ($X) constituted the largest supplier of potassium sulphate (SOP) to Sweden, comprising 72% of total imports. The second position in the ranking was taken by Denmark ($X), with a 25% share of total imports. It was followed by Norway, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+44.2% per year) and Norway (+20.4% per year).

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, jumping by 45% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.1% 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 +102.2% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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