Southern Asia: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Southern Asia

In 2023, the South Asian potassium sulphate (SOP) market decreased by X% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, enjoyed slight growth. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Potassium Sulphate (Sop) Production in Southern Asia

In value terms, potassium sulphate (SOP) production plummeted to $X in 2023 estimated in export price. Overall, production, however, posted significant growth. The most prominent rate of growth was recorded in 2022 with an increase of X,400% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports in Southern Asia

In 2023, shipments abroad of potassium sulphate (SOP) was finally on the rise to reach X tons for the first time since 2018, thus ending a four-year declining trend. Overall, exports posted a modest expansion. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports surged to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

India (X tons) represented roughly X% of total exports in 2023.

India was also the fastest-growing in terms of the potassium sulphate (SOP) exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest potassium sulphate (SOP) supplier in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in India was relatively modest.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then shrank rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Potassium Sulphate (Sop) Imports

Imports in Southern Asia

In 2023, overseas purchases of potassium sulphate (SOP) decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) imports contracted sharply to $X in 2023. Over the period under review, imports, however, saw a mild expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

India represented the largest importer of potassium sulphate (SOP) in Southern Asia, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. It was distantly followed by Pakistan (X tons), creating a X% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of imports of potassium sulphate (SOP). At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, Bangladesh (X%) illustrated a downward trend over the same period. Pakistan (X p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh 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, India ($X) constitutes the largest market for imported potassium sulphate (SOP) in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in India stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, falling by X% against the previous year. Import price indicated a mild increase from 2012 to 2023: its price 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, potassium sulphate (SOP) import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced remarkably in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform