Southern Asia: Potassium Sulphate (Sop) Market 2023

Potassium Sulphate (Sop) Market Size in Southern Asia

For the third consecutive year, the South Asian potassium sulphate (SOP) market recorded growth in sales value, which increased by 89% to $X in 2021. Over the period under review, consumption continues to indicate a prominent increase. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the immediate term.

Potassium Sulphate (Sop) Production in Southern Asia

In value terms, potassium sulphate (SOP) production contracted to $X in 2021 estimated in export price. Overall, production, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 18% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Potassium Sulphate (Sop) Exports

Exports in Southern Asia

Potassium sulphate (SOP) exports contracted markedly to X tons in 2021, waning by -79% against 2020. In general, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 91%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) exports declined significantly to $X in 2021. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 65% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, India (X tons) was the major exporter of potassium sulphate (SOP) in Southern Asia, achieving 100% of total export.

India was also the fastest-growing in terms of the potassium sulphate (SOP) exports, with a CAGR of -5.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest potassium sulphate (SOP) supplier in Southern Asia.

In India, potassium sulphate (SOP) exports plunged by an average annual rate of -9.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the export price, however, showed a perceptible setback. The growth pace was the most rapid in 2014 when the export price increased by 13% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -3.9% per year.

Potassium Sulphate (Sop) Imports

Imports in Southern Asia

In 2021, approx. X tons of potassium sulphate (SOP) were imported in Southern Asia; jumping by 59% against the previous year's figure. In general, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 92%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, potassium sulphate (SOP) imports soared to $X in 2021. Over the period under review, imports recorded a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Pakistan (X tons) represented the largest importer of potassium sulphate (SOP), generating 69% of total imports. It was distantly followed by India (X tons), constituting a 29% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

Pakistan was also the fastest-growing in terms of the potassium sulphate (SOP) imports, with a CAGR of +25.8% from 2012 to 2021. At the same time, India (+1.6%) displayed positive paces of growth. By contrast, Bangladesh (-7.7%) illustrated a downward trend over the same period. Pakistan (+46 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh and India saw its share reduced by -9.5% and -36.2% from 2012 to 2021, respectively.

In value terms, Pakistan ($X) constitutes the largest market for imported potassium sulphate (SOP) in Southern Asia, comprising 66% of total imports. The second position in the ranking was held by India ($X), with a 31% share of total imports.

In Pakistan, potassium sulphate (SOP) imports expanded at an average annual rate of +27.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+1.7% per year) and Bangladesh (-10.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, picking up by 14% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 19%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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