Belgium: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Belgium

The Belgian NPK fertilizer market rose markedly to $X in 2022, surging by 7.1% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption peaked in 2022 and is expected to retain growth in the near future.

Npk Fertilizer Production in Belgium

In value terms, NPK fertilizer production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in the immediate term.

Npk Fertilizer Exports

Exports from Belgium

In 2022, the amount of mixed nitrogen, phosphorus and potassium (NPK) fertilizers exported from Belgium amounted to X tons, growing by 5.4% on the previous year's figure. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, NPK fertilizer exports skyrocketed to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 41% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for NPK fertilizer exports from Belgium, accounting for a 40% share of total exports. Moreover, NPK fertilizer exports to Spain exceeded the volume sent to the second major destination, France (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain amounted to +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-5.5% per year) and China (-6.5% per year).

In value terms, Spain ($X), France ($X) and China ($X) were the largest markets for NPK fertilizer exported from Belgium worldwide, together comprising 46% of total exports. Mexico, the Netherlands, Germany, Gabon, Greece, Malaysia, Brazil, Ghana, Thailand and Italy lagged somewhat behind, together comprising a further 35%.

Brazil, with a CAGR of +63.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average NPK fertilizer export price amounted to $X per ton, picking up by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2021 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Belgium

For the fourth consecutive year, Belgium recorded growth in overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, which increased by 15% to X tons in 2022. Overall, imports, however, recorded a slight downturn. The growth pace was the most rapid in 2013 with an increase of 46% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, NPK fertilizer imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 45%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest NPK fertilizer supplier to Belgium, with a 60% share of total imports. Moreover, NPK fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled +37.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.8% per year) and the Netherlands (-10.9% per year).

In value terms, the largest NPK fertilizer suppliers to Belgium were Germany ($X), Russia ($X) and the Netherlands ($X), with a combined 97% share of total imports.

Russia, with a CAGR of +32.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average NPK fertilizer import price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 20%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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