Chile: Nitrogen Market 2024

Nitrogen Market Size in Chile

The Chilean nitrogen market surged to $X in 2021, jumping by 18% 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, consumption, however, saw a perceptible contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Nitrogen Exports

Exports from Chile

Nitrogen exports from Chile shrank sharply to X cubic meters in 2021, dropping by -17.5% against the previous year's figure. Over the period under review, exports showed a mild reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 548%. Over the period under review, the exports reached the peak figure at X cubic meters in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, nitrogen exports contracted sharply to $X in 2021. Overall, exports showed a perceptible shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 551%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X cubic meters) was the main destination for nitrogen exports from Chile, accounting for a 52% share of total exports. Moreover, nitrogen exports to Peru exceeded the volume sent to the second major destination, Argentina (X cubic meters), twofold.

From 2012 to 2021, the average annual growth rate of volume to Peru stood at +59.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-15.5% per year) and Bolivia (+48.1% per year).

In value terms, Peru ($X) emerged as the key foreign market for nitrogen exports from Chile, comprising 52% of total exports. The second position in the ranking was taken by Argentina ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru totaled +56.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-16.8% per year) and Bolivia (+45.8% per year).

Export Prices by Country

In 2021, the average nitrogen export price amounted to $X per cubic meter, increasing by 2.4% against the previous year. In general, the export price, however, continues to indicate a slight reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices attained the maximum at $X per cubic meter in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per cubic meter), while the average price for exports to Peru ($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 Argentina (-1.6%), while the prices for the other major destinations experienced a decline.

Nitrogen Imports

Imports into Chile

In 2021, nitrogen imports into Chile expanded remarkably to X cubic meters, growing by 12% against the previous year. Over the period under review, imports, however, saw a slight shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 43%. Imports peaked at X cubic meters in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, nitrogen imports amounted to $X in 2021. In general, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 28% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X cubic meters) constituted the largest nitrogen supplier to Chile, accounting for a 83% share of total imports. Moreover, nitrogen imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X cubic meters), tenfold. The third position in this ranking was held by China (X cubic meters), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+114.2% per year) and China (+25.5% per year).

In value terms, the United States ($X) constituted the largest supplier of nitrogen to Chile, comprising 83% of total imports. The second position in the ranking was held by Spain ($X), with an 8.6% share of total imports. It was followed by China, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+104.3% per year) and China (+20.5% per year).

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, leveling off at the previous year. Overall, the import price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2019 an increase of 1.6% against the previous year. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United States ($X per cubic meter) and Spain ($X per cubic meter), while the price for China ($X per cubic meter) and Germany ($X per cubic meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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