GCC: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in GCC

After two years of growth, the GCC NPK fertilizer market decreased by X% to $X in 2023. Over the period under review, consumption continues to indicate a abrupt slump. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.

Npk Fertilizer Production in GCC

In value terms, NPK fertilizer production expanded slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2023, production stood at a somewhat lower figure.

Npk Fertilizer Exports

Exports in GCC

After two years of decline, shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers increased by X% to X tons in 2023. Overall, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, NPK fertilizer exports rose rapidly to $X in 2023. In general, exports showed a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the two major exporters of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, namely Saudi Arabia and the United Arab Emirates, represented more than two-thirds of total export.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%).

In value terms, the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2023.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a pronounced decline. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Npk Fertilizer Imports

Imports in GCC

In 2023, supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers increased by X% to X tons for the first time since 2017, thus ending a five-year declining trend. In general, imports continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, NPK fertilizer imports reached $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons) represented the key importer of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, achieving X% of total imports. Oman (X tons) held the second position in the ranking, distantly followed by Kuwait (X tons) and Qatar (X tons). All these countries together took approx. X% share of total imports. Saudi Arabia (X tons) and Bahrain (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 leading importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest NPK fertilizer importing markets in GCC were Oman ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total imports.

Among the main importing countries, Oman, with a CAGR of X%, recorded 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

The import price in GCC stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price recorded a slight reduction. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then declined notably in the following year.

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 Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform