Spain: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Spain

In 2023, after two years of growth, there was significant decline in the Spanish monoammonium phosphate market, when its value decreased by X% to $X. In general, the total consumption indicated pronounced 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. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Monoammonium Phosphate Production in Spain

In value terms, monoammonium phosphate production rose slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a prominent expansion 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 2014 when the production volume increased by X% against the previous year. Monoammonium phosphate production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Monoammonium Phosphate Exports

Exports from Spain

In 2023, shipments abroad of monoammonium phosphate (MAP) decreased by X% to X tons for the first time since 2017, thus ending a five-year rising trend. Over the period under review, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank notably in the following year.

In value terms, monoammonium phosphate exports declined remarkably to $X in 2023. In general, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped markedly in the following year.

Exports by Country

Romania (X tons), Argentina (X tons) and France (X tons) were the main destinations of monoammonium phosphate exports from Spain, together accounting for X% of total exports. Portugal, Kenya, Belgium and Italy lagged somewhat behind, together accounting for a further X%.

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

In value terms, Argentina ($X), Romania ($X) and France ($X) appeared to be the largest markets for monoammonium phosphate exported from Spain worldwide, with a combined X% share of total exports. Portugal, Italy, Belgium and Kenya lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Kenya, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average monoammonium phosphate export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2023: its price 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, monoammonium phosphate export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then fell in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (X%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Spain

In 2023, imports of monoammonium phosphate (MAP) into Spain fell remarkably to X tons, dropping by X% compared with 2022 figures. Over the period under review, total imports indicated a tangible increase from 2012 to 2023: its volume 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. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, monoammonium phosphate imports shrank rapidly to $X in 2023. In general, imports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

Russia (X tons), Morocco (X tons) and the United States (X tons) were the main suppliers of monoammonium phosphate imports to Spain, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest monoammonium phosphate suppliers to Spain were Russia ($X), Belgium ($X) and China ($X), with a combined X% share of total imports. Morocco, the United States, Lithuania and Israel lagged somewhat behind, together accounting for a further X%.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average monoammonium phosphate import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price saw a mild reduction. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then plummeted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Lithuania ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform