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Changing Dynamics of GCC Fertilizer Industry

03-12-2018 10:01 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MordorIntelligence

Market Insights
The changing dynamics of the GCC Fertilizers Market include rising population, falling commodity prices globally, and intense competition from abroad. In 2016, GCC fertilizer sales declined by 21%, to USD 5.2 billion. The same scenario was noted in 2015, wherein, the sales revenue dropped by 10%.
The report provides a detailed analysis of the GCC fertilizer market, which is broadly segmented based on type and geography. Based on the type, the market has been segmented into nitrogenous, phosphatic, potassic, etc. Also, based on geography, the following countries have been considered, viz., Saudi Arabia, Qatar, Oman, UAE, etc.
Saudi Arabia Occupies the Largest Market Share Among the GCC Countries
The Saudi production of fertilizers in 2014 was 3,710,090 metric ton, and the production capacity is increasing year-on-year. In 2016, total phosphate reserves increased by 13%, as compared to 2015, an increase of 53 million metric ton. Saudi Arabia is the largest producer of ammonia in the region, representing 40% of total output. Over the years, its share of the GCC ammonia market has remained relatively unchanged. In terms of exports, in 2016, the top importing countries for fertilizers from Saudi were Thailand, the United States, Australia, New Zealand, and Sudan. The total exported value in 2016 was USD 882,814 thousand.
Urea Production in GCC
All the countries in GCC produce urea; Qatar is the biggest urea producer in the region with 35% share in the total GCC urea output. The production capacity of urea in Qatar is 5.9 million metric ton per annum. Saudi Arabia also occupies a significant share in the GCC urea market. The rapid growth in area production in Qatar and UAE is attributed to industry expansion taking place in the region. The urea producers in the region are focusing toward the development of environmentally-sustainable urea products. Urea generates significant sales revenue through its exports. Any change in the global market has a direct impact on the sales of urea in the GCC fertilizer market.

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