Middle East: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in the Middle East

After three years of growth, the Middle Eastern potassium nitrate market decreased by X% to $X in 2023. Over the period under review, consumption, however, continues to indicate buoyant growth. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Potassium Nitrate Production in the Middle East

In value terms, potassium nitrate production expanded notably to $X in 2023 estimated in export price. The total production indicated temperate growth 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 most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Potassium Nitrate Exports

Exports in the Middle East

In 2023, overseas shipments of potassium nitrates were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, saw a deep contraction. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, potassium nitrate exports soared to $X in 2023. In general, exports, however, continue to indicate a deep slump. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Jordan (X tons) represented the largest exporter of potassium nitrates, mixing up X% of total exports. It was distantly followed by Turkey (X tons), generating a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to potassium nitrate exports from Jordan stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Turkey increased by X percentage points.

In value terms, Jordan ($X) emerged as the largest potassium nitrate supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Jordan amounted to X%.

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped rapidly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Jordan totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Potassium Nitrate Imports

Imports in the Middle East

In 2023, approx. X tons of potassium nitrates were imported in the Middle East; growing by X% compared with the previous year's figure. Total imports indicated a moderate expansion 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. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, potassium nitrate imports surged to $X in 2023. Total imports indicated moderate 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 2018 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together making up X% of total imports. Israel (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (X%).

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

In value terms, the largest potassium nitrate importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), together accounting for X% of total imports.

Israel, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform