Eastern Europe: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Eastern Europe

The East European potassium nitrate market expanded notably to $X in 2022, growing by 9.4% against the previous year. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +86.4% against 2016 indices. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Potassium Nitrate Production in Eastern Europe

In value terms, potassium nitrate production rose markedly to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.0% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 48%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Potassium Nitrate Exports

Exports in Eastern Europe

For the third consecutive year, Eastern Europe recorded growth in overseas shipments of potassium nitrates, which increased by 11% to X tons in 2022. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 115%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, potassium nitrate exports skyrocketed to $X in 2022. In general, exports posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of 71%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Belarus (X tons) was the largest exporter of potassium nitrates, mixing up 62% of total exports. Russia (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Poland (14%). The Czech Republic (X tons) followed a long way behind the leaders.

Belarus was also the fastest-growing in terms of the potassium nitrates exports, with a CAGR of +338.9% from 2012 to 2022. At the same time, the Czech Republic (+33.2%), Poland (+11.6%) and Russia (+3.9%) displayed positive paces of growth. Belarus (+62 p.p.) significantly strengthened its position in terms of the total exports, while Poland and Russia saw its share reduced by -5% and -36.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belarus ($X) remains the largest potassium nitrate supplier in Eastern Europe, comprising 58% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports. It was followed by Russia, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Belarus amounted to +319.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+13.0% per year) and Russia (+2.3% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by 37% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Potassium Nitrate Imports

Imports in Eastern Europe

In 2022, approx. X tons of potassium nitrates were imported in Eastern Europe; with an increase of 5.4% on 2021 figures. Total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.1% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 40%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, potassium nitrate imports soared to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.9% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Poland (X tons) represented the main importer of potassium nitrates, comprising 46% of total imports. Russia (X tons) took the second position in the ranking, distantly followed by Ukraine (X tons), Hungary (X tons), the Czech Republic (X tons) and Lithuania (X tons). All these countries together held approx. 42% share of total imports. Belarus (X tons) held a minor share of total imports.

Imports into Poland increased at an average annual rate of +5.0% from 2012 to 2022. At the same time, Ukraine (+199.6%), the Czech Republic (+2.9%) and Russia (+1.7%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +199.6% from 2012-2022. Lithuania experienced a relatively flat trend pattern. By contrast, Hungary (-1.2%) and Belarus (-4.3%) illustrated a downward trend over the same period. Ukraine (+8.3 p.p.) and Poland (+5.6 p.p.) significantly strengthened its position in terms of the total imports, while Lithuania, Russia, Belarus and Hungary saw its share reduced by -2.3%, -3.2%, -4.1% and -4.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported potassium nitrates in Eastern Europe, comprising 43% of total imports. The second position in the ranking was held by Russia ($X), with an 11% share of total imports. It was followed by the Czech Republic, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in Poland stood at +5.3%. The remaining importing countries recorded the following average annual rates of imports growth: Russia (-0.9% per year) and the Czech Republic (+6.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, with an increase of 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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