Saudi Arabia: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in Saudi Arabia

The Saudi potassic fertilizer market reduced remarkably to $X in 2022, falling by X% against the previous year. Over the period under review, consumption continues to indicate a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced rapidly in the following year.

Potassic Fertilizer Production in Saudi Arabia

In value terms, potassic fertilizer production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume decreased by X% against the previous year. Potassic fertilizer production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

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Potassic Fertilizer Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in overseas shipments of potassic fertilizers, when their volume decreased by X% to X tons. In general, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell notably in the following year.

In value terms, potassic fertilizer exports shrank significantly to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

Sudan (X tons) and Spain (X tons) were the main destinations of potassic fertilizer exports from Saudi Arabia.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%).

In value terms, the largest markets for potassic fertilizer exported from Saudi Arabia were Sudan ($X) and Spain ($X).

Among the main countries of destination, Spain, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average potassic fertilizer export price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassic fertilizer export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Sudan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced mixed trend patterns.

Potassic Fertilizer Imports

Imports into Saudi Arabia

In 2022, potassic fertilizer imports into Saudi Arabia contracted significantly to X tons, waning by X% compared with the previous year. In general, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, potassic fertilizer imports dropped significantly to $X in 2022. Overall, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

In 2022, Jordan (X tons) constituted the largest potassic fertilizer supplier to Saudi Arabia, with a X% share of total imports. Moreover, potassic fertilizer imports from Jordan exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Jordan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Jordan ($X) constituted the largest supplier of potassic fertilizers to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value from Jordan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average potassic fertilizer import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Jordan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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