Belgium: Nitrogen Market 2024

Nitrogen Market Size in Belgium

After two years of decline, the Belgian nitrogen market increased by 12% to $X in 2021. Over the period under review, consumption showed a perceptible descent. Nitrogen consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Nitrogen Production in Belgium

In value terms, nitrogen production stood at $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Nitrogen Exports

Exports from Belgium

In 2021, the amount of nitrogen exported from Belgium rose slightly to X cubic meters, increasing by 1.5% on the previous year's figure. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 142%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, nitrogen exports soared to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Netherlands (X cubic meters) was the main destination for nitrogen exports from Belgium, with a 66% share of total exports. Moreover, nitrogen exports to the Netherlands exceeded the volume sent to the second major destination, Luxembourg (X cubic meters), fourfold. France (X cubic meters) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +44.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Luxembourg (+15.3% per year) and France (+40.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for nitrogen exports from Belgium, comprising 83% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by Luxembourg, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.8% per year) and Luxembourg (-1.7% per year).

Export Prices by Country

The average nitrogen export price stood at $X per cubic meter in 2021, rising by 17% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. Over the period under review, the average export prices attained the maximum at $X per cubic meter in 2012; however, from 2013 to 2021, the 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 the Netherlands ($X per cubic meter), while the average price for exports to Luxembourg (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 Germany (-9.0%), while the prices for the other major destinations experienced a decline.

Nitrogen Imports

Imports into Belgium

In 2021, the amount of nitrogen imported into Belgium skyrocketed to X cubic meters, rising by 17% against the previous year's figure. Over the period under review, imports, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2017 with an increase of 48%. As a result, imports reached the peak of X cubic meters. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitrogen imports surged to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 43%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X cubic meters) constituted the largest supplier of nitrogen to Belgium, accounting for a 75% share of total imports. Moreover, nitrogen imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), fivefold.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.2% per year) and France (-5.1% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of nitrogen to Belgium, comprising 73% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.2% per year) and France (-1.5% per year).

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, picking up by 4.8% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrogen import price increased by +70.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 41% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per cubic meter), while the price for Germany ($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 France (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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