Australia and Oceania: Nitrogen Market 2024

Nitrogen Market Size in Australia and Oceania

The nitrogen market in Australia and Oceania stood at $X in 2021, approximately equating the previous year. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Nitrogen Production in Australia and Oceania

In value terms, nitrogen production rose slightly to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 28% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Nitrogen Exports

Exports in Australia and Oceania

In 2021, overseas shipments of nitrogen decreased by -2.9% to X cubic meters, falling for the second year in a row after two years of growth. In general, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of 333% against the previous year. The volume of export peaked at X cubic meters in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrogen exports fell dramatically to $X in 2021. Overall, exports saw a sharp contraction. The most prominent rate of growth was recorded in 2016 with an increase of 230% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

New Zealand represented the major exporting country with an export of around X cubic meters, which recorded 73% of total exports. It was distantly followed by Australia (X cubic meters) and New Caledonia (X cubic meters), together making up a 25% share of total exports.

New Zealand was also the fastest-growing in terms of the nitrogen exports, with a CAGR of +82.4% from 2012 to 2021. At the same time, New Caledonia (+48.4%) displayed positive paces of growth. By contrast, Australia (-14.8%) illustrated a downward trend over the same period. New Zealand (+73 p.p.) and New Caledonia (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -35.3% from 2012 to 2021, respectively.

In value terms, the largest nitrogen supplying countries in Australia and Oceania were Australia ($X), New Zealand ($X) and New Caledonia ($X), with a combined 97% share of total exports.

New Zealand, with a CAGR of +28.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per cubic meter, with a decrease of -17.7% against the previous year. Overall, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of 60% against the previous year. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per cubic meter), while New Zealand ($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 Australia (-11.9%), while the other leaders experienced a decline in the export price figures.

Nitrogen Imports

Imports in Australia and Oceania

Nitrogen imports skyrocketed to X cubic meters in 2021, increasing by 33% on the previous year. In general, imports recorded a strong increase. The pace of growth was the most pronounced in 2016 when imports increased by 502%. Over the period under review, imports hit record highs at X cubic meters in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, nitrogen imports stood at $X in 2021. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when imports increased by 114% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Guam represented the major importing country with an import of about X cubic meters, which reached 45% of total imports. Marshall Islands (X cubic meters) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Australia (12%), New Zealand (8.6%) and Papua New Guinea (7.8%). Fiji (X cubic meters) followed a long way behind the leaders.

Guam was also the fastest-growing in terms of the nitrogen imports, with a CAGR of +72.1% from 2012 to 2021. At the same time, Marshall Islands (+48.7%), Australia (+8.2%), Papua New Guinea (+6.9%) and New Zealand (+3.3%) displayed positive paces of growth. By contrast, Fiji (-16.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Guam and Marshall Islands increased by +44 and +20 percentage points, respectively.

In value terms, Australia ($X) constitutes the largest market for imported nitrogen in Australia and Oceania, comprising 47% of total imports. The second position in the ranking was taken by Guam ($X), with a 14% share of total imports. It was followed by New Zealand, with a 12% share.

In Australia, nitrogen imports contracted by an average annual rate of -6.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Guam (+34.5% per year) and New Zealand (-13.6% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per cubic meter in 2021, waning by -21.9% against the previous year. Overall, the import price faced a abrupt downturn. The growth pace was the most rapid in 2019 an increase of 203%. The level of import peaked at $X per cubic meter in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per cubic meter), while Marshall Islands (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 attained by Fiji (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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