United Kingdom: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in the UK

The UK diammonium phosphate market declined significantly to $X in 2022, waning by -30.8% 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, the total consumption indicated a mild increase from 2012 to 2022: its value 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. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Diammonium Phosphate Exports

Exports from the UK

Diammonium phosphate exports from the UK dropped remarkably to X tons in 2022, which is down by -25.1% compared with the previous year's figure. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 648%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, diammonium phosphate exports shrank sharply to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 434% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

China (X tons) was the main destination for diammonium phosphate exports from the UK, with a 24% share of total exports. Moreover, diammonium phosphate exports to China exceeded the volume sent to the second major destination, Iceland (X tons), sixfold. The third position in this ranking was taken by Costa Rica (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+6.1% per year) and Costa Rica (+45.3% per year).

In value terms, China ($X) remains the key foreign market for diammonium phosphate exports from the UK, comprising 45% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 10% share of total exports. It was followed by Barbados, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+80.4% per year) and Barbados (+15.6% per year).

Export Prices by Country

The average diammonium phosphate export price stood at $X per ton in 2022, falling by -2.5% against the previous year. In general, the export price, however, posted temperate growth. The pace of growth appeared the most rapid in 2021 an increase of 381% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

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 Costa Rica ($X per ton), while the average price for exports to Iceland ($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 Kuwait (+47.6%), while the prices for the other major destinations experienced more modest paces of growth.

Diammonium Phosphate Imports

Imports into the UK

Diammonium phosphate imports into the UK shrank remarkably to X tons in 2022, dropping by -33.7% against 2021 figures. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume 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, imports decreased by -41.8% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 69% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, diammonium phosphate imports declined sharply to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% 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 2013 with an increase of 47% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Morocco (X tons) constituted the largest diammonium phosphate supplier to the UK, accounting for a 67% share of total imports. Moreover, diammonium phosphate imports from Morocco exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Morocco amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-3.0% per year) and Russia (-3.4% per year).

In value terms, the largest diammonium phosphate suppliers to the UK were Morocco ($X), Lithuania ($X) and Russia ($X), together accounting for 95% of total imports.

Among the main suppliers, Morocco, with a CAGR of +7.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average diammonium phosphate import price stood at $X per ton in 2022, growing by 6.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 57%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Lithuania ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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