Global Mixed Fertilizer Market 2024

Mixed Fertilizer Market Size

The global mixed fertilizer market rose rapidly to $X in 2022, picking up by 5.5% against the previous year. Overall, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 5.9%. Over the period under review, the global market attained the peak level in 2022 and is expected to retain growth in the near future.

Mixed Fertilizer Production

In value terms, mixed fertilizer production reduced slightly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 9.8%. As a result, production reached the peak level of $X. From 2020 to 2022, global production growth remained at a lower figure.

Mixed Fertilizer Exports

Exports

In 2022, after five years of growth, there was significant decline in shipments abroad of mixed fertilizers, when their volume decreased by -16.9% to X tons. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by 20%. The global exports peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, mixed fertilizer exports expanded notably to $X in 2022. Over the period under review, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +68.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 58% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons), Russia (X tons) and Morocco (X tons) represented roughly 60% of total exports in 2022. The United States (X tons) took an 8.4% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (4.9%) and Norway (4.8%). Belgium (X tons), Belarus (X tons) and the Netherlands (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Belarus (with a CAGR of +13.6%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($X), Morocco ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2022, together comprising 59% of global exports.

Among the main exporting countries, Morocco, with a CAGR of +12.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mixed fertilizer export price amounted to $X per ton, with an increase of 28% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer export price increased by +97.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 54% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Russia ($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 United States (+4.6%), while the other global leaders experienced more modest paces of growth.

Mixed Fertilizer Imports

Imports

In 2022, purchases abroad of mixed fertilizers decreased by -9.9% to X tons for the first time since 2011, thus ending a ten-year rising trend. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, global imports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, mixed fertilizer imports soared to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, India (X tons) and Brazil (X tons) represented the largest importers of mixed fertilizersin the world, together recording near 32% of total imports. Thailand (X tons), Canada (X tons), the United States (X tons), Argentina (X tons), Australia (X tons), China (X tons), Romania (X tons), Bangladesh (X tons), Ethiopia (X tons), Spain (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Romania (with a CAGR of +14.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest mixed fertilizer importing markets worldwide were India ($X), Brazil ($X) and Thailand ($X), together accounting for 43% of global imports. Canada, Argentina, the United States, Australia, China, Romania, Spain, Bangladesh, Vietnam and Ethiopia lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Romania, with a CAGR of +17.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average mixed fertilizer import price stood at $X per ton in 2022, picking up by 41% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed fertilizer import price increased by +110.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. Global import price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Ethiopia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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