EU: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in the EU

After five years of growth, the EU potassium sulphate (SOP) market decreased by X% to $X in 2023. The total consumption indicated perceptible 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. Over the period under review, the market attained the peak level at $X in 2022, and then reduced dramatically in the following year.

Potassium Sulphate (Sop) Production in the EU

In value terms, potassium sulphate (SOP) production declined to $X in 2023 estimated in export price. Overall, production recorded a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2022, and then declined in the following year.

Potassium Sulphate (Sop) Exports

Exports in the EU

In 2023, approx. X tons of potassium sulphate (SOP) were exported in the European Union; dropping by X% on the previous year. Over the period under review, exports, however, saw a noticeable expansion. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports fell significantly to $X in 2023. Overall, exports, however, posted modest growth. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

Sweden dominates exports structure, finishing at X tons, which was near X% of total exports in 2023. Austria (X tons) ranks second in terms of the total exports with an X% share, followed by the Netherlands (X%). The following exporters - Italy (X tons) and Spain (X tons) - each finished at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to potassium sulphate (SOP) exports from Sweden stood at X%. At the same time, Italy (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. Austria and Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Austria (X p.p.) and the Netherlands (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest potassium sulphate (SOP) supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Austria ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Sweden stood at X%. In the other countries, the average annual rates were as follows: Austria (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2023, the export price in the European Union amounted to $X per ton, shrinking by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Potassium Sulphate (Sop) Imports

Imports in the EU

For the third year in a row, the European Union recorded decline in purchases abroad of potassium sulphate (SOP), which decreased by X% to X tons in 2023. In general, imports continue to indicate a noticeable setback. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, potassium sulphate (SOP) imports shrank dramatically to $X in 2023. Over the period under review, imports recorded a perceptible setback. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, France (X tons), Spain (X tons), the Netherlands (X tons) and Italy (X tons) represented the major importer of potassium sulphate (SOP) in the European Union, mixing up X% of total import. Greece (X tons) took the next position in the ranking, followed by Poland (X tons). All these countries together took approx. X% share of total imports. Austria (X tons) and Portugal (X tons) followed a long way behind the leaders.

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

In value terms, Spain ($X), France ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

The import price in the European Union stood at $X per ton in 2023, growing by X% against the previous year. Import price indicated noticeable growth 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, potassium sulphate (SOP) import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X%. The level of import peaked in 2023 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Spain ($X per ton) and the Netherlands ($X per ton), while Greece ($X per ton) and France ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform