Croatia: Nitrogen Market 2024

Nitrogen Market Size in Croatia

For the sixth consecutive year, the Croatian nitrogen market recorded growth in sales value, which increased by 2% to $X in 2021. The market value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Nitrogen Production in Croatia

In value terms, nitrogen production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 12% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Nitrogen Exports

Exports from Croatia

In 2021, shipments abroad of nitrogen was finally on the rise to reach X cubic meters after five years of decline. In general, exports, however, saw a pronounced descent. Over the period under review, the exports hit record highs at X cubic meters in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrogen exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a pronounced shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Slovenia (X cubic meters) was the main destination for nitrogen exports from Croatia, with a 71% share of total exports. Moreover, nitrogen exports to Slovenia exceeded the volume sent to the second major destination, Hungary (X cubic meters), fivefold. Bosnia and Herzegovina (X cubic meters) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovenia amounted to -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+28.4% per year) and Bosnia and Herzegovina (+12.0% per year).

In value terms, Slovenia ($X) remains the key foreign market for nitrogen exports from Croatia, comprising 62% of total exports. The second position in the ranking was held by Hungary ($X), with a 17% share of total exports. It was followed by Bosnia and Herzegovina, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovenia totaled -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+31.7% per year) and Bosnia and Herzegovina (+5.8% per year).

Export Prices by Country

In 2021, the average nitrogen export price amounted to $X per cubic meter, increasing by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2017 when the average export price increased by 16%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per cubic meter), while the average price for exports to Slovenia ($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 Hungary (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Nitrogen Imports

Imports into Croatia

Nitrogen imports into Croatia totaled X cubic meters in 2021, rising by 4.8% against 2020 figures. In general, imports, however, continue to indicate a slight slump. The most prominent rate of growth was recorded in 2018 when imports increased by 9.3%. As a result, imports reached the peak of X cubic meters. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, nitrogen imports soared to $X in 2021. Over the period under review, imports, however, recorded a pronounced shrinkage. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X cubic meters), Slovenia (X cubic meters) and Serbia (X cubic meters) were the main suppliers of nitrogen imports to Croatia, together accounting for 92% of total imports. These countries were followed by Austria and Slovakia, which together accounted for a further 7.4%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +112.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrogen suppliers to Croatia were Italy ($X), Slovenia ($X) and Austria ($X), together comprising 89% of total imports.

In terms of the main suppliers, Austria, with a CAGR of +40.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average nitrogen import price stood at $X per cubic meter in 2021, with an increase of 14% against the previous year. Over the period under review, the import price, however, recorded a pronounced setback. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per cubic meter), while the price for Italy ($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 Serbia (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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