Europe: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Europe

In 2023, after five years of growth, there was significant decline in the Europe potassium sulphate (SOP) market, when its value decreased by X% to $X. The total consumption indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2022, and then dropped significantly in the following year.

Potassium Sulphate (Sop) Production in Europe

In value terms, potassium sulphate (SOP) production contracted to $X in 2023 estimated in export price. In general, production showed a temperate increase. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Potassium Sulphate (Sop) Exports

Exports in Europe

In 2023, overseas shipments of potassium sulphate (SOP) decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, potassium sulphate (SOP) exports declined to $X in 2023. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Sweden represented the major exporting country with an export of about X tons, which recorded X% of total exports. Russia (X tons) ranks second in terms of the total exports with a X% share, followed by Austria (X%) and the Netherlands (X%). The following exporters - Italy (X tons) and Spain (X tons) - each resulted at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to potassium sulphate (SOP) exports from Sweden stood at X%. At the same time, Italy (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. Austria and Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (X%) and Russia (X%) illustrated a downward trend over the same period. Sweden (X p.p.) and Italy (X p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands and Russia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest potassium sulphate (SOP) supplying countries in Europe were Sweden ($X), Russia ($X) and Austria ($X), together accounting for X% of total exports. The Netherlands, Spain and Italy lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The export price in Europe stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the export price, however, recorded modest growth. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then shrank 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 Russia ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Potassium Sulphate (Sop) Imports

Imports in Europe

For the third consecutive year, Europe recorded decline in purchases abroad of potassium sulphate (SOP), which decreased by X% to X tons in 2023. Over the period under review, imports saw a pronounced contraction. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports contracted remarkably to $X in 2023. In general, imports recorded a pronounced slump. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

The purchases of the five major importers of potassium sulphate (SOP), namely Norway, France, Spain, the Netherlands and Italy, represented more than two-thirds of total import. It was distantly followed by Greece (X tons), constituting a X% share of total imports. The UK (X tons), Poland (X tons), Austria (X tons), Portugal (X tons) and Germany (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium sulphate (SOP) importing markets in Europe were Spain ($X), France ($X) and the Netherlands ($X), together comprising X% of total imports.

In terms of the main importing countries, Spain, 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

In 2023, the import price in Europe amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X%. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform