Belgium: Nitrites Market 2024

Nitrites Market Size in Belgium

The Belgian nitrites market surged to $X in 2021, growing by 26% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated moderate 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 increased by +75.6% against 2019 indices. Nitrites consumption peaked in 2021 and is expected to retain growth in the immediate term.

Nitrites Exports

Exports from Belgium

In 2021, approx. X tons of nitrites were exported from Belgium; rising by 32% on 2020 figures. In general, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2019 when exports increased by 624% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nitrites exports soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 276% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Algeria (X tons), the Netherlands (X tons) and Qatar (X tons) were the main destinations of nitrites exports from Belgium, with a combined 45% share of total exports. These countries were followed by Ghana, Germany, the UK, France, Turkey, Pakistan, Poland, the Czech Republic and Romania, which together accounted for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +96.1%), while the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X), the UK ($X) and the Netherlands ($X) appeared to be the largest markets for nitrites exported from Belgium worldwide, with a combined 47% share of total exports. These countries were followed by France, Qatar, Germany, Turkey, Ghana, Pakistan, Poland, the Czech Republic and Romania, which together accounted for a further 34%.

Among the main countries of destination, Turkey, with a CAGR of +94.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average nitrites export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrites export price increased by +55.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 53%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

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 Romania ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+33.6%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites Imports

Imports into Belgium

In 2021, imports of nitrites into Belgium surged to X tons, picking up by 26% compared with the previous year's figure. In general, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +96.2% against 2015 indices. The pace of growth was the most pronounced in 2019 with an increase of 30%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, nitrites imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 44%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Norway (X tons) were the main suppliers of nitrites imports to Belgium, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +67,589.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of nitrites to Belgium, comprising 74% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total imports. It was followed by France, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.7% per year) and France (+3.2% per year).

Import Prices by Country

The average nitrites import price stood at $X per ton in 2021, picking up by 1.9% against the previous year. Overall, the import price, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2014 when the average import price increased by 16%. The import price peaked at $X per ton 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 France ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :