ASEAN: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in ASEAN

In 2023, after two years of growth, there was significant decline in the ASEAN potassium sulphate (SOP) market, when its value decreased by X% to $X. Over the period under review, consumption showed a mild downturn. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Potassium Sulphate (Sop) Production in ASEAN

In value terms, potassium sulphate (SOP) production expanded rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a slight shrinkage. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Potassium Sulphate (Sop) Exports

Exports in ASEAN

In 2023, after two years of decline, there was significant growth in shipments abroad of potassium sulphate (SOP), when their volume increased by X% to X tons. Total exports indicated a noticeable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports reduced markedly to $X in 2023. Total exports indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia was the major exporting country with an export of about X tons, which resulted at X% of total exports. Singapore (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (X%).

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Singapore (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Indonesia ($X) remains the largest potassium sulphate (SOP) supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports.

In Indonesia, potassium sulphate (SOP) exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and the Philippines (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Potassium Sulphate (Sop) Imports

Imports in ASEAN

In 2023, purchases abroad of potassium sulphate (SOP) decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) imports declined to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of potassium sulphate (SOP) imports in 2023 were Vietnam (X tons), Malaysia (X tons) and Thailand (X tons), together recording X% of total import. It was distantly followed by Lao People's Democratic Republic (X tons), Indonesia (X tons), the Philippines (X tons) and Myanmar (X tons), together constituting a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. Lao People's Democratic Republic, Indonesia, the Philippines and Myanmar lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Import price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, potassium sulphate (SOP) import price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform