Argentina: Nitrogen Market 2025

Nitrogen Market Size in Argentina

In 2021, after three years of growth, there was significant decline in the Argentinian nitrogen market, when its value decreased by -9% to $X. Over the period under review, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Nitrogen Production in Argentina

In value terms, nitrogen production declined to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 43%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Nitrogen Exports

Exports from Argentina

In 2021, nitrogen exports from Argentina skyrocketed to X cubic meters, increasing by 37% on the previous year. In general, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2019 when exports increased by 84% against the previous year. The exports peaked at X cubic meters in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, nitrogen exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a abrupt decline. The growth pace was the most rapid in 2019 when exports increased by 342%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X cubic meters) was the main destination for nitrogen exports from Argentina, with a 74% share of total exports. Moreover, nitrogen exports to Chile exceeded the volume sent to the second major destination, Uruguay (X cubic meters), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile stood at -19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-17.1% per year) and Paraguay (+6.0% per year).

In value terms, Uruguay ($X) remains the key foreign market for nitrogen exports from Argentina, comprising 78% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Uruguay totaled -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+14.5% per year) and Chile (-35.5% per year).

Export Prices by Country

The average nitrogen export price stood at $X per cubic meter in 2021, surging by 16% against the previous year. Overall, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 141% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Paraguay ($X per cubic meter), while the average price for exports to Chile (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+16.9%), while the prices for the other major destinations experienced mixed trend patterns.

Nitrogen Imports

Imports into Argentina

In 2021, supplies from abroad of nitrogen decreased by -21.1% to X cubic meters, falling for the third year in a row after three years of growth. In general, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 183% against the previous year. Imports peaked at X cubic meters in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, nitrogen imports declined to $X in 2021. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 225%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X cubic meters) constituted the largest supplier of nitrogen to Argentina, accounting for a 72% share of total imports. Moreover, nitrogen imports from the United States exceeded the figures recorded by the second-largest supplier, Paraguay (X cubic meters), fivefold. Uruguay (X cubic meters) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +38.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (+31.2% per year) and Uruguay (+19.3% per year).

In value terms, the United States ($X), Chile ($X) and Paraguay ($X) constituted the largest nitrogen suppliers to Argentina, together accounting for 59% of total imports.

The United States, with a CAGR of +5.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, rising by 18% against the previous year. Overall, the import price, however, continues to indicate a precipitous descent. The most prominent rate of growth was recorded in 2013 an increase of 25%. As a result, import price reached the peak level of $X per cubic meter. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per cubic meter), while the price for Uruguay ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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