Croatia: Nitrates Market 2024

Nitrates Market Size in Croatia

In 2021, the Croatian nitrates market increased by 15% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Nitrates Exports

Exports from Croatia

In 2021, overseas shipments of nitrates (excluding those of potassium) increased by 67% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 5,250%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, nitrates exports soared to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 550%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for nitrates exports from Croatia, accounting for a 77% share of total exports. Moreover, nitrates exports to North Macedonia exceeded the volume sent to the second major destination, Slovenia (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to North Macedonia totaled +84.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+104.8% per year) and Germany (+37.2% per year).

In value terms, the largest markets for nitrates exported from Croatia were North Macedonia ($X), Slovenia ($X) and Germany ($X), together comprising 72% of total exports.

Germany, with a CAGR of +119.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average nitrates export price amounted to $X per ton, growing by 27% against the previous year. In general, the export price, however, saw a sharp setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by 2,438% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to North Macedonia ($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 Germany (+59.9%), while the prices for the other major destinations experienced a decline.

Nitrates Imports

Imports into Croatia

In 2021, supplies from abroad of nitrates (excluding those of potassium) increased by 15% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 112% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, nitrates imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2020 when imports increased by 55% 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

Poland (X tons), the Netherlands (X tons) and Serbia (X tons) were the main suppliers of nitrates imports to Croatia, with a combined 62% share of total imports. These countries were followed by Greece, Belgium, Italy, Germany, Hungary and the Czech Republic, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates suppliers to Croatia were Germany ($X), Poland ($X) and the Netherlands ($X), with a combined 41% share of total imports.

Among the main suppliers, Poland, with a CAGR of +29.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nitrates import price stood at $X per ton in 2021, growing by 26% against the previous year. In general, the import price showed a noticeable expansion. The most prominent rate of growth was recorded in 2016 an increase of 165% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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