Eastern Europe: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Eastern Europe

In 2021, the East European ammonium nitrate market decreased by -0.7% to $X, falling for the second year in a row after three years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Ammonium Nitrate Production in Eastern Europe

In value terms, ammonium nitrate production rose sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a slight curtailment. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ammonium Nitrate Exports

Exports in Eastern Europe

For the third consecutive year, Eastern Europe recorded growth in shipments abroad of ammonium nitrate, which increased by 13% to X tons in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 14% against the previous year. The volume of export peaked at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, ammonium nitrate exports soared to $X in 2021. In general, exports, however, saw a mild decrease. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Russia prevails in exports structure, reaching X tons, which was near 82% of total exports in 2021. Lithuania (X tons) took the second position in the ranking, followed by Bulgaria (X tons). All these countries together took approx. 14% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ammonium nitrate exports from Russia stood at +3.3%. At the same time, Bulgaria (+5.0%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +5.0% from 2012-2021. By contrast, Lithuania (-1.9%) illustrated a downward trend over the same period. While the share of Russia (+21 p.p.) and Bulgaria (+2.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest ammonium nitrate supplier in Eastern Europe, comprising 77% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 9.3% share of total exports.

In Russia, ammonium nitrate exports increased at an average annual rate of +1.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bulgaria (+6.8% per year) and Lithuania (-3.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, surging by 57% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The level of export 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 origin: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+1.7%), while the other leaders experienced a decline in the export price figures.

Ammonium Nitrate Imports

Imports in Eastern Europe

In 2021, approx. X tons of ammonium nitrate were imported in Eastern Europe; picking up by 3.3% against 2020 figures. Total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 49%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ammonium nitrate imports skyrocketed to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +164.1% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Ukraine (X tons) and Romania (X tons) were the main importers of ammonium nitrate in Eastern Europe, together creating 52% of total imports. Lithuania (X tons) took an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by Latvia (8.8%), Poland (8.1%) and Hungary (5%). Estonia (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium nitrate importing markets in Eastern Europe were Ukraine ($X), Romania ($X) and Lithuania ($X), with a combined 68% share of total imports.

In terms of the main importing countries, Romania, with a CAGR of +21.2%, 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 import price in Eastern Europe stood at $X per ton in 2021, rising by 62% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+3.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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