Global Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size

In 2022, the global potassium sulphate (SOP) market increased by 22% to $X, rising for the sixth year in a row after three years of decline. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Potassium Sulphate (Sop) Production

In value terms, potassium sulphate (SOP) production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 18% against the previous year. Over the period under review, global production reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Potassium Sulphate (Sop) Exports

Exports

In 2022, shipments abroad of potassium sulphate (SOP) decreased by -14.3% to X tons, falling for the second consecutive year after two years of growth. Overall, total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -20.1% against 2020 indices. The growth pace was the most rapid in 2019 when exports increased by 44% against the previous year. Over the period under review, the global exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports soared to $X in 2022. In general, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +86.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 46%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from Taiwan (Chinese) (X tons), Sweden (X tons) and Egypt (X tons), together reaching 51% of total export. China (X tons) held the next position in the ranking, followed by the United States (X tons) and Russia (X tons). All these countries together held approx. 22% share of total exports. Canada (X tons), the Netherlands (X tons), Indonesia (X tons), Finland (X tons), South Africa (X tons), Austria (X tons) and South Korea (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 key exporting countries, was attained by Egypt (with a CAGR of +67.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest potassium sulphate (SOP) supplying countries worldwide were Egypt ($X), Sweden ($X) and Taiwan (Chinese) ($X), together comprising 45% of global exports.

In terms of the main exporting countries, Egypt, with a CAGR of +77.6%, saw the highest growth rate of 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

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, picking up by 42% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 +68.2% against 2020 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+16.5%), while the other global leaders experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports

In 2022, global potassium sulphate (sop) imports totaled X tons, standing approx. at 2021. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 19%. Over the period under review, global imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports soared to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons), Norway (X tons), Australia (X tons), the United States (X tons), Mexico (X tons), South Africa (X tons), France (X tons), Peru (X tons), Japan (X tons), the Netherlands (X tons), Brazil (X tons) and Pakistan (X tons) represented the major importer of potassium sulphate (SOP) in the world, comprising 62% of total import. India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +13.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the United States ($X) and Australia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 21% share of global imports. Mexico, Japan, Norway, France, Brazil, India, South Africa, Pakistan, Peru and the Netherlands lagged somewhat behind, together comprising a further 40%.

Pakistan, with a CAGR of +19.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, with an increase of 28% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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