Australia: Nitrogen Market 2024

Nitrogen Market Size in Australia

The Australian nitrogen market totaled $X in 2021, increasing by 5.6% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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

In value terms, nitrogen production expanded remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Nitrogen Exports

Exports from Australia

Nitrogen exports from Australia declined rapidly to X cubic meters in 2021, which is down by -53.9% compared with the year before. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 431% against the previous year. The exports 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 reduced rapidly to $X in 2021. Over the period under review, exports continue to indicate a precipitous decline. The growth pace was the most rapid in 2016 with an increase of 237%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Papua New Guinea (X cubic meters) was the main destination for nitrogen exports from Australia, with a 84% share of total exports. Moreover, nitrogen exports to Papua New Guinea exceeded the volume sent to the second major destination, the United Arab Emirates (X cubic meters), more than tenfold. The third position in this ranking was held by New Caledonia (X cubic meters), with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Papua New Guinea stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and New Caledonia (-16.6% per year).

In value terms, Papua New Guinea ($X) remains the key foreign market for nitrogen exports from Australia, comprising 34% of total exports. The second position in the ranking was held by New Caledonia ($X), with a 6.6% share of total exports. It was followed by New Zealand, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value to Papua New Guinea stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Caledonia (-10.5% per year) and New Zealand (-35.0% per year).

Export Prices by Country

In 2021, the average nitrogen export price amounted to $X per cubic meter, increasing by 17% against the previous year. Overall, the export price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 66% against the previous year. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Caledonia ($X per cubic meter), while the average price for exports to the United Arab Emirates ($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 Fiji (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogen Imports

Imports into Australia

After two years of decline, purchases abroad of nitrogen increased by 222% to X cubic meters in 2021. In general, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 227% against the previous year. As a result, imports attained the peak of X cubic meters. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, nitrogen imports skyrocketed to $X in 2021. Overall, imports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 175% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X cubic meters) constituted the largest nitrogen supplier to Australia, accounting for a 87% share of total imports. Moreover, nitrogen imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X cubic meters), more than tenfold. The UK (X cubic meters) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore amounted to +90.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.4% per year) and the UK (-18.6% per year).

In value terms, the United States ($X), Singapore ($X) and Italy ($X) constituted the largest nitrogen suppliers to Australia, together accounting for 81% of total imports.

Among the main suppliers, Singapore, with a CAGR of +39.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, which is down by -59.7% against the previous year. Over the period under review, the import price faced a abrupt decline. The pace of growth appeared the most rapid in 2020 when the average import price increased by 45% against the previous year. The import price peaked at $X per cubic meter in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Singapore ($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 Spain (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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