Eastern Europe: Nitrates Market 2024

Nitrates Market Size in Eastern Europe

In 2021, after two years of decline, there was significant growth in the East European nitrates market, when its value increased by 14% to $X. In general, consumption, however, recorded a slight descent. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Nitrates Production in Eastern Europe

In value terms, nitrates production surged to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Nitrates Exports

Exports in Eastern Europe

In 2021, the amount of nitrates (excluding those of potassium) exported in Eastern Europe dropped to X tons, with a decrease of -8.6% compared with the previous year's figure. In general, exports, however, posted buoyant growth. The growth pace was the most rapid in 2020 when exports increased by 70%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, nitrates exports fell to $X in 2021. Total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.7% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 59%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Poland (X tons) and Russia (X tons) dominates exports structure, together generating 93% of total exports. The following exporters - Ukraine (X tons) and the Czech Republic (X tons) - together made up 6.4% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Russia (with a CAGR of +24.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates supplying countries in Eastern Europe were Poland ($X), Russia ($X) and Ukraine ($X), with a combined 97% share of total exports.

Russia, with a CAGR of +6.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, with an increase of 8.6% against the previous year. In general, the export price, however, saw a noticeable curtailment. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-0.3%), while the other leaders experienced a decline in the export price figures.

Nitrates Imports

Imports in Eastern Europe

In 2021, approx. X tons of nitrates (excluding those of potassium) were imported in Eastern Europe; dropping by -18.2% against 2020. Over the period under review, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of 29%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, nitrates imports fell slightly to $X in 2021. Overall, imports recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 with an increase of 29%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Poland (X tons), distantly followed by Russia (X tons), Romania (X tons), the Czech Republic (X tons), Belarus (X tons), Ukraine (X tons), Slovakia (X tons) and Lithuania (X tons) were the major importers of nitrates (excluding those of potassium), together committing 92% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Lithuania (with a CAGR of +20.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates importing markets in Eastern Europe were Russia ($X), the Czech Republic ($X) and Poland ($X), with a combined 55% share of total imports. Romania, Lithuania, Ukraine, Belarus and Slovakia lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, Lithuania, with a CAGR of +19.1%, recorded the highest rates of growth with regard to 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, growing by 19% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2018 an increase of 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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