Forecast: Production of Fertilisers Containing Phosphorus and Potassium in Spain

Over the years, the production of fertilizers containing phosphorus and potassium in Spain has experienced significant fluctuations. The highest production level was recorded in 2016, while the lowest was in 2020. The overall trend from 2013 to 2023 shows a high degree of volatility, with notable spikes and drops. For instance, a 69.83% increase occurred in 2021 following a declining phase till 2020. From 2019 to 2022, the market observed a generally decreasing trend with occasional rebounds.

In 2023, the production stood at 22.727 million kilograms, exhibiting a minimal year-on-year increase of 0.065%, indicative of stabilization following prior volatility. The CAGR from the past five years was -0.03%, suggesting a slight downward trend over this period.

Future trends to watch for:

• Moderate growth with a forecasted average annual growth rate (CAGR) of 0.05% from 2024 to 2028.
• Potential challenges in achieving substantial growth without significant technological or policy changes.
• Possible market stabilization at around 22.799 million kilograms by 2028.