Europe: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Europe

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

Potassium Sulphate (Sop) Production in Europe

In value terms, potassium sulphate (SOP) production dropped to $X in 2023 estimated in export price. In general, production recorded measured growth. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. As a result, production reached the peak level of $X, and then fell in the following year.

Potassium Sulphate (Sop) Exports

Exports in Europe

In 2023, the amount of potassium sulphate (SOP) exported in Europe reached X tons, approximately mirroring the previous year. In general, exports, however, recorded a mild decline. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports declined to $X in 2023. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Sweden was the major exporter of potassium sulphate (SOP) in Europe, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Russia (X tons), Austria (X tons) and the Netherlands (X tons), together constituting a X% share of total exports. 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 Europe, with a CAGR of X% from 2012-2023. Austria and Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (X%) and Russia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Sweden and Italy increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest potassium sulphate (SOP) supplying countries in Europe were Sweden ($X), Russia ($X) and Austria ($X), with a combined X% share of total exports. The Netherlands, Spain and Italy lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Italy, with a CAGR of X%, recorded the highest growth rate of 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

The export price in Europe stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, showed a mild expansion. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Potassium Sulphate (Sop) Imports

Imports in Europe

For the third year in a row, Europe recorded decline in overseas purchases of potassium sulphate (SOP), which decreased by X% to X tons in 2023. In general, imports saw a noticeable reduction. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, potassium sulphate (SOP) imports contracted notably to $X in 2023. Over the period under review, imports recorded a perceptible descent. The pace of growth was the most pronounced in 2013 when imports increased by X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

Norway (X tons), France (X tons), Spain (X tons), the Netherlands (X tons) and Italy (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Greece (X tons), committing a X% share of total imports. The UK (X tons), Poland (X tons), Austria (X tons), Portugal (X tons) and Germany (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 key importing countries, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium sulphate (SOP) importing markets in Europe were Spain ($X), France ($X) and the Netherlands ($X), together comprising X% 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

In 2023, the import price in Europe amounted to $X per ton, approximately reflecting the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2023 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform