Eastern Europe: Potassium Sulphate (Sop) Market 2023

Potassium Sulphate (Sop) Market Size in Eastern Europe

The East European potassium sulphate (SOP) market declined markedly to $X in 2021, falling by -18.5% against the previous year. Over the period under review, consumption recorded a perceptible decline. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Potassium Sulphate (Sop) Production in Eastern Europe

In value terms, potassium sulphate (SOP) production reduced modestly to $X in 2021 estimated in export price. In general, production saw a deep contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 61%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Potassium Sulphate (Sop) Exports

Exports in Eastern Europe

Potassium sulphate (SOP) exports surged to X tons in 2021, with an increase of 15% compared with the year before. Overall, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 46% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 34%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Russia prevails in exports structure, recording X tons, which was approx. 89% of total exports in 2021. Lithuania (X tons), Latvia (X tons), Poland (X tons) and the Czech Republic (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to potassium sulphate (SOP) exports from Russia stood at -6.1%. At the same time, Poland (+34.1%), Latvia (+4.7%) and the Czech Republic (+1.6%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +34.1% from 2012-2021. By contrast, Lithuania (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland and Latvia increased by +2.1 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest potassium sulphate (SOP) supplier in Eastern Europe, comprising 85% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 4.4% share of total exports. It was followed by Poland, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to -9.1%. In the other countries, the average annual rates were as follows: Lithuania (-5.2% per year) and Poland (+33.5% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, rising by 12% against the previous year. Overall, the export price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-0.5%), while the other leaders experienced a decline in the export price figures.

Potassium Sulphate (Sop) Imports

Imports in Eastern Europe

In 2021, imports of potassium sulphate (SOP) in Eastern Europe contracted to X tons, which is down by -9.6% against 2020 figures. The total import volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 33% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, potassium sulphate (SOP) imports expanded modestly to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 27%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X tons), distantly followed by Russia (X tons), Romania (X tons), Lithuania (X tons), Ukraine (X tons) and Hungary (X tons) represented the major importers of potassium sulphate (SOP), together generating 90% of total imports. The Czech Republic (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were in Russia (with a CAGR of +24.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Romania ($X) constituted the countries with the highest levels of imports in 2021, together comprising 70% of total imports.

Among the main importing countries, Russia, with a CAGR of +22.1%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Eastern Europe amounted to $X per ton, jumping by 15% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Russia ($X per ton) and the Czech Republic ($X per ton), while Lithuania ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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