
U.S. - Potassium Sulphate (SOP) - Market Analysis, Forecast, Size, Trends and Insights
U.S.: Potassium Sulphate (Sop) Market 2023
Potassium Sulphate (Sop) Market Size in the U.S.
The U.S. potassium sulphate (SOP) market totaled $X in 2021, rising by 10% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.
Potassium Sulphate (Sop) Production in the U.S.
In value terms, potassium sulphate (SOP) production shrank to $X in 2021. Over the period under review, production, however, saw a slight contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 43%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.
Potassium Sulphate (Sop) Exports
Exports from the U.S.
In 2021, exports of potassium sulphate (SOP) from the United States fell notably to X tons, waning by -32% compared with the previous year. In general, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 112% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.
In value terms, potassium sulphate (SOP) exports contracted to $X in 2021. Overall, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 49% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
Exports by Country
Mexico (X tons), Canada (X tons) and Colombia (X tons) were the main destinations of potassium sulphate (SOP) exports from the United States, with a combined 81% share of total exports. Pakistan, New Zealand, India, Costa Rica, Japan, Singapore and Venezuela lagged somewhat behind, together accounting for a further 16%.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +1,544.9%), while the other leaders experienced more modest paces of growth.
In value terms, Mexico ($X), Canada ($X) and Colombia ($X) constituted the largest markets for potassium sulphate (SOP) exported from the United States worldwide, with a combined 83% share of total exports. Pakistan, New Zealand, India, Costa Rica, Singapore, Japan and Venezuela lagged somewhat behind, together accounting for a further 13%.
Pakistan, with a CAGR of +1,801.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2021, the average potassium sulphate (SOP) export price amounted to $X per ton, surging by 26% against the previous year. In general, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, potassium sulphate (SOP) export price increased by +50.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 45%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.
Potassium Sulphate (Sop) Imports
Imports into the U.S.
For the third consecutive year, the United States recorded growth in supplies from abroad of potassium sulphate (SOP), which increased by 49% to X tons in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.9% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, potassium sulphate (SOP) imports surged to $X in 2021. Over the period under review, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +93.0% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports by Country
In 2021, Germany (X tons) constituted the largest potassium sulphate (SOP) supplier to the United States, with a 54% share of total imports. Moreover, potassium sulphate (SOP) imports from Germany exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. The third position in this ranking was held by Lithuania (X tons), with a 12% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-0.1% per year) and Lithuania (0.0% per year).
In value terms, Germany ($X), Canada ($X) and Belgium ($X) constituted the largest potassium sulphate (SOP) suppliers to the United States, with a combined 87% share of total imports.
In terms of the main suppliers, Belgium, with a CAGR of +56.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2021, the average potassium sulphate (SOP) import price amounted to $X per ton, with a decrease of -3.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.
Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.3%), while the prices for the other major suppliers experienced a decline.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the potassium sulphate (sop) market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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