Asia-Pacific: Potassium Chloride (Mop) Market 2024

Potassium Chloride (Mop) Market Size in Asia-Pacific

In 2023, after six years of growth, there was significant decline in the Asia-Pacific potassium chloride (MOP) market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined in the following year.

Potassium Chloride (Mop) Production in Asia-Pacific

In value terms, potassium chloride (MOP) production rose slightly to $X in 2023 estimated in export price. The total production indicated a perceptible expansion 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Potassium Chloride (Mop) Exports

Exports in Asia-Pacific

In 2023, the amount of potassium chloride (MOP) exported in Asia-Pacific expanded slightly to X tons, growing by X% against the previous year. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, potassium chloride (MOP) exports reduced modestly to $X in 2023. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

Lao People's Democratic Republic was the major exporting country with an export of about X tons, which resulted at X% of total exports. China (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons). All these countries together took approx. X% share of total exports. Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) remains the largest potassium chloride (MOP) supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Lao People's Democratic Republic amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, which is down by X% against the previous year. Overall, 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% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Lao People's Democratic Republic ($X per ton) and Malaysia ($X per ton), while China ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the other leaders experienced mixed trends in the export price figures.

Potassium Chloride (Mop) Imports

Imports in Asia-Pacific

In 2023, approx. X tons of potassium chloride (MOP) were imported in Asia-Pacific; waning by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, potassium chloride (MOP) imports reduced to $X in 2023. Total imports indicated a pronounced increase 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 2021 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

China represented the major importing country with an import of around X tons, which accounted for X% of total imports. India (X tons) ranks second in terms of the total imports with a X% share, followed by Indonesia (X%) and Malaysia (X%). The following importers - Thailand (X tons), South Korea (X tons) and Vietnam (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the potassium chloride (MOP) imports, with a CAGR of X% from 2012 to 2023. At the same time, Thailand (X%), India (X%), Malaysia (X%), South Korea (X%) and Indonesia (X%) displayed positive paces of growth. Vietnam experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported potassium chloride (MOP) in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: India (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a mild downturn. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Thailand ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform