CIS: Nitrogen Market 2024

Nitrogen Market Size in CIS

The CIS nitrogen market totaled $X in 2021, growing by 2.1% against the previous year. Over the period under review, consumption saw a pronounced descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Nitrogen Production in CIS

In value terms, nitrogen production expanded modestly to $X in 2021 estimated in export price. In general, production showed a noticeable curtailment. The growth pace was the most rapid in 2014 with an increase of 10% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Nitrogen Exports

Exports in CIS

In 2021, approx. X cubic meters of nitrogen were exported in the CIS; increasing by 19% against the previous year. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 192%. Over the period under review, the exports hit record highs at X cubic meters in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, nitrogen exports skyrocketed to $X in 2021. In general, exports posted a pronounced increase. The growth pace was the most rapid in 2015 with an increase of 188% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia prevails in exports structure, finishing at X cubic meters, which was near 95% of total exports in 2021. Belarus (X cubic meters) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to nitrogen exports from Russia stood at +7.4%. At the same time, Belarus (+29.8%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +29.8% from 2012-2021. Belarus (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -2.9% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest nitrogen supplier in the CIS, comprising 96% of total exports. The second position in the ranking was held by Belarus ($X), with a 3.2% share of total exports.

In Russia, nitrogen exports expanded at an average annual rate of +2.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per cubic meter, with an increase of 1.9% against the previous year. In general, the export price, however, recorded a pronounced setback. The growth pace was the most rapid in 2013 an increase of 81% against the previous year. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per cubic meter), while Belarus stood at $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-3.0%).

Nitrogen Imports

Imports in CIS

In 2021, supplies from abroad of nitrogen decreased by -16.1% to X cubic meters, falling for the second year in a row after five years of growth. In general, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 156%. As a result, imports attained the peak of X cubic meters. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, nitrogen imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 72% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

Belarus was the key importer of nitrogen in the CIS, with the volume of imports resulting at X cubic meters, which was near 54% of total imports in 2021. Russia (X cubic meters) took a 32% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (9.9%). Kazakhstan (X cubic meters) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +72.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported nitrogen in the CIS, comprising 59% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 27% share of total imports. It was followed by Belarus, with an 8.6% share.

In Russia, nitrogen imports increased at an average annual rate of +10.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+9.8% per year) and Belarus (+25.5% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per cubic meter, picking up by 39% against the previous year. Over the period under review, the import price, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the import price increased by 55%. Over the period under review, import prices attained the peak figure at $X per cubic meter in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kazakhstan ($X per cubic meter), while Belarus ($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 Uzbekistan (+10.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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