Croatia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Croatia

In 2021, the Croatian ammonium nitrate market increased by 676% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption saw a resilient increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ammonium Nitrate Production in Croatia

In value terms, ammonium nitrate production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of 48%. Ammonium nitrate production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ammonium Nitrate Exports

Exports from Croatia

In 2021, shipments abroad of ammonium nitrate decreased by -82.5% to X tons, falling for the second year in a row after three years of growth. In general, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 75%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, ammonium nitrate exports contracted significantly to $X in 2021. Over the period under review, exports showed a deep contraction. The growth pace was the most rapid in 2015 with an increase of 47%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Serbia (X tons), Bosnia and Herzegovina (X tons) and Kosovo (X tons) were the main destinations of ammonium nitrate exports from Croatia, together accounting for 92% of total exports. Montenegro, Slovenia, Romania, North Macedonia and Bulgaria lagged somewhat behind, together comprising a further 7.7%.

From 2012 to 2021, the biggest increases were recorded for Montenegro (with a CAGR of +30.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Bosnia and Herzegovina ($X) emerged as the key foreign market for ammonium nitrate exports from Croatia, comprising 55% of total exports. The second position in the ranking was held by Serbia ($X), with a 26% share of total exports. It was followed by Kosovo, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bosnia and Herzegovina amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-3.2% per year) and Kosovo (-41.7% per year).

Export Prices by Country

The average ammonium nitrate export price stood at $X per ton in 2021, with an increase of 46% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kosovo (+46.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Croatia

In 2021, approx. X tons of ammonium nitrate were imported into Croatia; rising by 353% compared with the previous year's figure. Overall, imports recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 5,873%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, ammonium nitrate imports skyrocketed to $X in 2021. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 4,423%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Sweden (X tons) was the main ammonium nitrate supplier to Croatia, accounting for a 92% share of total imports. Moreover, ammonium nitrate imports from Sweden exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), more than tenfold. The third position in this ranking was held by Egypt (X tons), with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (-8.3% per year) and Egypt (0.0% per year).

In value terms, Sweden ($X) constituted the largest supplier of ammonium nitrate to Croatia, comprising 93% of total imports. The second position in the ranking was held by Bulgaria ($X), with a 2.7% share of total imports. It was followed by Egypt, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (-7.8% per year) and Egypt (0.0% per year).

Import Prices by Country

The average ammonium nitrate import price stood at $X per ton in 2021, rising by 57% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Serbia ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :