Benelux: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Benelux

The Benelux potassium nitrate market fell sharply to $X in 2022, with a decrease of -21.4% against the previous year. Over the period under review, consumption continues to indicate a pronounced decrease. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Potassium Nitrate Production in Benelux

In value terms, potassium nitrate production reached $X in 2022 estimated in export price. In general, production continues to indicate temperate growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 2,575%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Potassium Nitrate Exports

Exports in Benelux

In 2022, after two years of growth, there was significant decline in shipments abroad of potassium nitrates, when their volume decreased by -9% to X tons. The total export volume increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 37% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, potassium nitrate exports surged to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +88.3% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 44%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The Netherlands was the major exporter of potassium nitrates in Benelux, with the volume of exports accounting for X tons, which was approx. 88% of total exports in 2022. It was distantly followed by Belgium (X tons), committing a 12% share of total exports.

The Netherlands was also the fastest-growing in terms of the potassium nitrates exports, with a CAGR of +17.1% from 2012 to 2022. Belgium (-12.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +59 percentage points.

In value terms, the Netherlands ($X) remains the largest potassium nitrate supplier in Benelux, comprising 88% of total exports. The second position in the ranking was held by Belgium ($X), with a 12% share of total exports.

In the Netherlands, potassium nitrate exports expanded at an average annual rate of +17.6% over the period from 2012-2022.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, picking up by 42% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%).

Potassium Nitrate Imports

Imports in Benelux

Potassium nitrate imports dropped remarkably to X tons in 2022, with a decrease of -22.6% against 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 23% against the previous year. The volume of import peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands was the largest importing country with an import of about X tons, which recorded 90% of total imports. It was distantly followed by Belgium (X tons), mixing up a 10% share of total imports.

The Netherlands was also the fastest-growing in terms of the potassium nitrates imports, with a CAGR of +9.9% from 2012 to 2022. Belgium (-16.2%) illustrated a downward trend over the same period. While the share of the Netherlands (+53 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-52.9 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported potassium nitrates in Benelux, comprising 89% of total imports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total imports.

In the Netherlands, potassium nitrate imports expanded at an average annual rate of +10.6% over the period from 2012-2022.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, picking up by 75% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +77.8% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.7%).

Source: IndexBox Platform