EU: Potassium Sulphate (Sop) Market 2023

Potassium Sulphate (Sop) Market Size in the EU

The EU potassium sulphate (SOP) market stood at $X in 2021, growing by 6.3% against the previous year. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.7% against 2017 indices. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Potassium Sulphate (Sop) Production in the EU

In value terms, potassium sulphate (SOP) production rose remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible shrinkage. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Potassium Sulphate (Sop) Exports

Exports in the EU

Potassium sulphate (SOP) exports soared to X tons in 2021, growing by 25% compared with 2020 figures. In general, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2017 when exports increased by 27% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a abrupt setback. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden prevails in exports structure, amounting to X tons, which was near 69% of total exports in 2021. It was distantly followed by Austria (X tons) and the Netherlands (X tons), together achieving a 17% share of total exports. The following exporters - Italy (X tons), Spain (X tons) and Portugal (X tons) - together made up 9% of total exports.

Exports from Sweden increased at an average annual rate of +9.8% from 2012 to 2021. At the same time, Italy (+15.6%), Portugal (+14.7%), Spain (+4.4%) and Austria (+4.2%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +15.6% from 2012-2021. By contrast, the Netherlands (-4.2%) illustrated a downward trend over the same period. Sweden (+62 p.p.), Austria (+7.9 p.p.), the Netherlands (+4.8 p.p.), Italy (+3.6 p.p.), Spain (+2.7 p.p.) and Portugal (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest potassium sulphate (SOP) supplier in the European Union, comprising 62% of total exports. The second position in the ranking was taken by Austria ($X), with a 12% share of total exports. It was followed by the Netherlands, with a 9.1% share.

In Sweden, potassium sulphate (SOP) exports expanded at an average annual rate of +10.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Austria (+8.5% per year) and the Netherlands (-3.9% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, growing by 6.3% against the previous year. Overall, the export price, however, saw a slight setback. The pace of growth was the most pronounced in 2018 when the export price increased by 13% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.6%), while the other leaders experienced more modest paces of growth.

Potassium Sulphate (Sop) Imports

Imports in the EU

Potassium sulphate (SOP) imports shrank to X tons in 2021, dropping by -10.1% compared with the previous year. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 45%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports reduced slightly to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 45%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of potassium sulphate (SOP) imports in 2021 were Belgium (X tons), France (X tons), the Netherlands (X tons), Spain (X tons) and Italy (X tons), together amounting to 75% of total import. It was distantly followed by Greece (X tons), mixing up a 4.5% share of total imports. Poland (X tons), Austria (X tons), Portugal (X tons), Finland (X tons), Romania (X tons) and Germany (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Finland (with a CAGR of +33.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2021, together comprising 51% of total imports. Spain, Italy, Greece, Poland, Austria, Finland, Portugal, Romania and Germany lagged somewhat behind, together accounting for a further 43%.

Among the main importing countries, Finland, with a CAGR of +37.6%, 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 the European Union amounted to $X per ton, increasing by 11% against the previous year. In general, the import price, however, continues to indicate a mild decline. The pace of growth was the most pronounced in 2018 when the import price increased by 19%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Finland ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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