China: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in China

In 2022, the Chinese potassium sulphate (SOP) market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted a resilient increase. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Potassium Sulphate (Sop) Production in China

In value terms, potassium sulphate (SOP) production reached $X in 2022 estimated in export price. Overall, production recorded buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Potassium Sulphate (Sop) Exports

Exports from China

In 2022, shipments abroad of potassium sulphate (SOP) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, posted a significant increase. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports contracted notably to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons), Peru (X tons) and Brazil (X tons) were the main destinations of potassium sulphate (SOP) exports from China, with a combined X% share of total exports. India, Pakistan, Japan, South Africa, Ecuador, Chile, New Zealand, Colombia, Honduras and Mozambique lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for potassium sulphate (SOP) exported from China were Mexico ($X), Peru ($X) and Japan ($X), together comprising X% of total exports. Brazil, India, Pakistan, South Africa, Ecuador, Chile, New Zealand, Colombia, Honduras and Mozambique lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average potassium sulphate (SOP) export price amounted to $X per ton, jumping by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Chile ($X per ton), while the average price for exports to Brazil ($X per ton) and Mozambique ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (X%), while the prices for the other major destinations experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports into China

Potassium sulphate (SOP) imports into China dropped sharply to X tons in 2022, reducing by X% compared with the previous year's figure. Over the period under review, imports faced a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports rose significantly to $X in 2022. Overall, imports faced a drastic downturn. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of potassium sulphate (SOP) to China, with a X% share of total imports. Moreover, potassium sulphate (SOP) imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Russia ($X) constituted the largest supplier of potassium sulphate (SOP) to China, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average potassium sulphate (SOP) import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% 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) import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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