Benelux: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Benelux

In 2022, the Benelux NPK fertilizer market increased by 31% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.4% against 2020 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Npk Fertilizer Production in Benelux

In value terms, NPK fertilizer production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw a modest increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Npk Fertilizer Exports

Exports in Benelux

In 2022, exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Benelux contracted slightly to X tons, waning by -3% against the previous year's figure. Over the period under review, exports recorded a slight curtailment. The growth pace was the most rapid in 2013 with an increase of 32% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, NPK fertilizer exports skyrocketed to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belgium represented the main exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Benelux, with the volume of exports reaching X tons, which was near 75% of total exports in 2022. It was distantly followed by the Netherlands (X tons), comprising a 25% share of total exports.

Belgium experienced a relatively flat trend pattern with regard to volume of exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers. The Netherlands (-4.4%) illustrated a downward trend over the same period. While the share of Belgium (+7.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-7.4 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Belgium, with a CAGR of +0.4%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, growing by 21% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer export price increased by +60.8% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 33% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.0%).

Npk Fertilizer Imports

Imports in Benelux

For the third year in a row, Benelux recorded growth in purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, which increased by 4.1% to X tons in 2022. Overall, imports, however, showed a mild slump. The most prominent rate of growth was recorded in 2013 when imports increased by 38% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, NPK fertilizer imports expanded markedly to $X in 2022. In general, imports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2013 with an increase of 34%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) was the key importer of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, making up 60% of total imports. It was distantly followed by the Netherlands (X tons), creating a 39% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Belgium (with a CAGR of -1.6%).

In value terms, the largest NPK fertilizer importing markets in Benelux were Belgium ($X) and the Netherlands ($X).

The Netherlands, with a CAGR of -0.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, picking up by 9.3% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 15% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.9%).

Source: IndexBox Platform