United Arab Emirates: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in the United Arab Emirates

After four years of growth, the potassium nitrate market in the United Arab Emirates decreased by -20% to $X in 2022. In general, consumption, however, enjoyed a significant expansion. Potassium nitrate consumption peaked at $X in 2021, and then dropped remarkably in the following year.

Potassium Nitrate Exports

Exports from the United Arab Emirates

In 2022, the amount of potassium nitrates exported from the United Arab Emirates dropped sharply to X tons, declining by -18.4% on the previous year. Over the period under review, exports recorded a deep slump. The growth pace was the most rapid in 2021 when exports increased by 48% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, potassium nitrate exports contracted to $X in 2022. Overall, exports recorded a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 42%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

India (X tons), Serbia (X tons) and Oman (X tons) were the main destinations of potassium nitrate exports from the United Arab Emirates, with a combined 59% share of total exports. The Netherlands, Pakistan, Kuwait, Bahrain and Saudi Arabia lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +93.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potassium nitrate exported from the United Arab Emirates were Pakistan ($X), India ($X) and Serbia ($X), together accounting for 61% of total exports. Oman, the Netherlands, Bahrain, Kuwait and Saudi Arabia lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, the Netherlands, with a CAGR of +97.6%, saw 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 potassium nitrate export price stood at $X per ton in 2022, surging by 12% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate export price decreased by -8.5% against 2020 indices. The growth pace was the most rapid in 2020 an increase of 68% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Kuwait ($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 Pakistan (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Nitrate Imports

Imports into the United Arab Emirates

In 2022, supplies from abroad of potassium nitrates decreased by -20.2% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 209% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, potassium nitrate imports declined rapidly to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 199%. Imports peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Chile (X tons) constituted the largest potassium nitrate supplier to the United Arab Emirates, with a 75% share of total imports. Moreover, potassium nitrate imports from Chile exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Chile totaled +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+19.3% per year) and Jordan (+24.5% per year).

In value terms, Chile ($X) constituted the largest supplier of potassium nitrates to the United Arab Emirates, comprising 71% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile stood at +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+18.1% per year) and Jordan (+22.5% per year).

Import Prices by Country

The average potassium nitrate import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2018 an increase of 1.2% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Jordan ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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