GCC: Fertilizer Market 2024

Fertilizer Market Size in GCC

The GCC fertilizer market soared to $X in 2023, jumping by X% against the previous year. Overall, consumption, however, posted a measured expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Fertilizer Production in GCC

In value terms, fertilizer production rose notably to $X in 2023 estimated in export price. The total production indicated a measured 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 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Fertilizer Exports

Exports in GCC

In 2023, exports of fertilizers in GCC soared to X tons, increasing by X% against the year before. Total exports indicated a temperate increase from 2012 to 2023: its volume 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, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer exports surged to $X in 2023. In general, exports posted a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia was the key exporting country with an export of around X tons, which finished at X% of total exports. Oman (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%) and Bahrain (X%).

From 2012 to 2023, average annual rates of growth with regard to fertilizer exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%), Bahrain (X%) and Oman (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest fertilizer supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Saudi Arabia stood at X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price recorded perceptible growth. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the near future.

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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Fertilizer Imports

Imports in GCC

In 2023, approx. X tons of fertilizers were imported in GCC; growing by X% compared with 2022. Overall, imports enjoyed a mild increase. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, fertilizer imports soared to $X in 2023. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2016; however, from 2017 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which resulted at X% of total imports. Saudi Arabia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%). The following importers - Qatar (X tons) and Kuwait (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported fertilizers in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with an X% share.

In the United Arab Emirates, fertilizer imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price saw 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, import price attained the peak level of $X per ton, and then shrank markedly in the following year.

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

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

Source: IndexBox Platform