MENA: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in MENA

The MENA's monoammonium phosphate market surged to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Monoammonium Phosphate Production in MENA

In value terms, monoammonium phosphate production reached $X in 2023 estimated in export price. Overall, production posted a strong increase. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Monoammonium Phosphate Exports

Exports in MENA

In 2023, shipments abroad of monoammonium phosphate (MAP) decreased by X% to X tons, falling for the second year in a row after six years of growth. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, monoammonium phosphate exports declined dramatically to $X in 2023. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then contracted significantly in the following year.

Exports by Country

Morocco was the major exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Saudi Arabia (X tons), mixing up a X% share of total exports. The following exporters - Egypt (X tons) and Tunisia (X tons) - each accounted for a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Egypt (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest monoammonium phosphate supplying countries in MENA were Morocco ($X), Saudi Arabia ($X) and Egypt ($X), together accounting for X% of total exports.

Egypt, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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 MENA stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then reduced 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 Egypt ($X per ton), while Morocco ($X per ton) was amongst the lowest.

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

Monoammonium Phosphate Imports

Imports in MENA

After two years of decline, purchases abroad of monoammonium phosphate (MAP) increased by X% to X tons in 2023. Total imports indicated a strong expansion from 2012 to 2023: its volume 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. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, monoammonium phosphate imports fell to $X in 2023. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Turkey was the largest importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Algeria (X tons), Egypt (X tons), Israel (X tons) and the United Arab Emirates (X tons), together mixing up a X% share of total imports. Jordan (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to monoammonium phosphate imports into Turkey stood at X%. At the same time, the United Arab Emirates (X%), Egypt (X%), Israel (X%), Algeria (X%) and Jordan (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Egypt (X p.p.), the United Arab Emirates (X p.p.) and Israel (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in MENA, comprising X% of total imports. The second position in the ranking was taken by Algeria ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, showed a modest increase. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Turkey ($X per ton) and Jordan ($X per ton), while Israel ($X per ton) and Egypt ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform