Denmark: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Denmark

In 2022, the Danish NPK fertilizer market increased by 25% to $X, rising for the third year in a row after two years of decline. In general, consumption saw modest growth. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Npk Fertilizer Production in Denmark

In value terms, NPK fertilizer production dropped notably to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 318%. Over the period under review, production hit record highs at $X in 2021, and then dropped significantly in the following year.

Npk Fertilizer Exports

Exports from Denmark

In 2022, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -95.6% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 96% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, NPK fertilizer exports fell markedly to $X in 2022. Over the period under review, exports showed a abrupt descent. The growth pace was the most rapid in 2013 when exports increased by 61% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Sweden (X tons) was the main destination for NPK fertilizer exports from Denmark, accounting for a 44% share of total exports. Moreover, NPK fertilizer exports to Sweden exceeded the volume sent to the second major destination, Greenland (X tons), twofold. Estonia (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at -22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greenland (+1.3% per year) and Estonia (-19.1% per year).

In value terms, the largest markets for NPK fertilizer exported from Denmark were Sweden ($X), Germany ($X) and Greenland ($X), with a combined 63% share of total exports. Estonia, the UK, Norway, Faroe Islands, Lithuania and Latvia lagged somewhat behind, together accounting for a further 22%.

The UK, with a CAGR of +42.4%, recorded 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 NPK fertilizer export price stood at $X per ton in 2022, increasing by 116% against the previous year. Overall, the export price recorded a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Lithuania ($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 Germany (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Denmark

In 2022, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -30.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 38%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, NPK fertilizer imports declined to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 37%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Finland (X tons) constituted the largest NPK fertilizer supplier to Denmark, with a 60% share of total imports. Moreover, NPK fertilizer imports from Finland exceeded the figures recorded by the second-largest supplier, Russia (X tons), fivefold. The third position in this ranking was held by Norway (X tons), with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from Finland stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-9.5% per year) and Norway (-15.4% per year).

In value terms, Finland ($X) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Denmark, comprising 63% of total imports. The second position in the ranking was taken by Tunisia ($X), with a 10% share of total imports. It was followed by Russia, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from Finland stood at +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Tunisia (0.0% per year) and Russia (-8.8% per year).

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, increasing by 37% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer import price increased by +102.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 48% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Tunisia ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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