Croatia: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Croatia

The Croatian potassium nitrate market soared to $X in 2022, picking up by 15% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% 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 +45.9% against 2020 indices. Potassium nitrate consumption peaked in 2022 and is expected to retain growth in the near future.

Potassium Nitrate Production in Croatia

In value terms, potassium nitrate production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 99% against the previous year. Potassium nitrate production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Potassium Nitrate Exports

Exports from Croatia

In 2022, shipments abroad of potassium nitrates decreased by -72.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 30,838% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium nitrate exports shrank significantly to $X in 2022. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 15,648% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

North Macedonia (X tons), Bosnia and Herzegovina (X tons) and Serbia (X tons) were the main destinations of potassium nitrate exports from Croatia, with a combined 100% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +190.7%), while the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X), Bosnia and Herzegovina ($X) and Serbia ($X) constituted the largest markets for potassium nitrate exported from Croatia worldwide, together accounting for 100% of total exports.

Serbia, with a CAGR of +178.2%, saw the highest growth rate of 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

The average potassium nitrate export price stood at $X per ton in 2022, growing by 66% against the previous year. Overall, the export price, however, recorded a drastic downturn. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+62.8%), while the prices for the other major destinations experienced a decline.

Potassium Nitrate Imports

Imports into Croatia

In 2022, the amount of potassium nitrates imported into Croatia fell dramatically to X tons, shrinking by -18.9% against the previous year's figure. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 42% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped significantly in the following year.

In value terms, potassium nitrate imports soared to $X in 2022. Overall, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 38%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Greece (X tons), the Netherlands (X tons) and Belgium (X tons) were the main suppliers of potassium nitrate imports to Croatia, with a combined 91% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +35.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), the Netherlands ($X) and Belgium ($X) constituted the largest potassium nitrate suppliers to Croatia, with a combined 88% share of total imports.

Belgium, with a CAGR of +41.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potassium nitrate import price stood at $X per ton in 2022, with an increase of 56% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +77.8% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Slovenia ($X per ton) and Poland ($X per ton), while the price for Greece ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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