MENA: Fertilizer Market 2024

Fertilizer Market Size in MENA

The MENA's fertilizer market reached $X in 2023, rising by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2023 and is expected to retain growth in the near future.

Fertilizer Production in MENA

In value terms, fertilizer production rose rapidly to $X in 2023 estimated in export price. The total production indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared 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 failed to regain momentum.

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Fertilizer Exports

Exports in MENA

In 2023, fertilizer exports in MENA totaled X tons, surging by X% against 2022 figures. Total exports indicated a temperate 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. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, fertilizer exports expanded markedly to $X in 2023. Over the period under review, exports posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to continue growth in years to come.

Exports by Country

In 2023, Morocco (X tons) and Saudi Arabia (X tons) represented the major exporters of fertilizers in MENA, together making up X% of total exports. Egypt (X tons) ranks next in terms of the total exports with an X% share, followed by Oman (X%), Algeria (X%), Jordan (X%), the United Arab Emirates (X%) and Iran (X%).

From 2012 to 2023, the biggest increases were recorded for Algeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Morocco ($X) and Egypt ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. Algeria, Jordan, Oman, the United Arab Emirates and Iran lagged somewhat behind, together accounting for a further X%.

Algeria, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2023, the export price in MENA amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, showed a modest expansion. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then contracted 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 Jordan ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Fertilizer Imports

Imports in MENA

In 2023, overseas purchases of fertilizers decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, fertilizer imports contracted sharply to $X in 2023. Total imports indicated measured 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. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2023, Turkey (X tons) represented the major importer of fertilizers, making up X% of total imports. It was distantly followed by Djibouti (X tons) and Morocco (X tons), together creating an X% share of total imports. Egypt (X tons), Iraq (X tons), Iran (X tons), the United Arab Emirates (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to fertilizer imports into Turkey stood at X%. At the same time, Iraq (X%), the United Arab Emirates (X%), Morocco (X%), Israel (X%), Djibouti (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Iran experienced a relatively flat trend pattern. From 2012 to 2023, the share of Turkey increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported fertilizers in MENA, comprising X% of total imports. The second position in the ranking was taken by Djibouti ($X), with a X% share of total imports. It was followed by Morocco, with an X% share.

In Turkey, fertilizer imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Djibouti (X% per year) and Morocco (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform