GCC: Nitrogenous Fertilizer Market 2023

Nitrogenous Fertilizer Market Size in GCC

The GCC nitrogenous fertilizer market expanded to $X in 2022, picking up by 2.6% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -17.3% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Nitrogenous Fertilizer Production in GCC

In value terms, nitrogenous fertilizer production reached $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 34%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports in GCC

After two years of growth, shipments abroad of nitrogenous fertilizers (mineral or chemical) decreased by -1.1% to X tons in 2022. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 13%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, nitrogenous fertilizer exports fell significantly to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.4% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by 59% against the previous year. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Saudi Arabia (X tons) and Oman (X tons) represented roughly 73% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Bahrain (X tons), together mixing up a 26% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +10.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022, with a combined 93% share of total exports.

The United Arab Emirates, with a CAGR of +7.4%, recorded 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

In 2022, the export price in GCC amounted to $X per ton, waning by -17.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 56%. As a result, the export price attained the peak level of $X per ton, and then shrank sharply in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.1%), while the other leaders experienced a decline in the export price figures.

Nitrogenous Fertilizer Imports

Imports in GCC

In 2022, the amount of nitrogenous fertilizers (mineral or chemical) imported in GCC rose slightly to X tons, with an increase of 2% against the previous year. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 32% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer imports fell slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 25%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the major importers of nitrogenous fertilizers (mineral or chemical) in GCC, together committing 84% of total imports. It was distantly followed by Oman (X tons), committing a 13% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrogenous fertilizer importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 93% share of total imports. Qatar lagged somewhat behind, comprising a further 5.4%.

Qatar, with a CAGR of +33.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, dropping by -5% against the previous year. Over the period under review, the import price saw a pronounced curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+5.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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