Eastern Europe: Nitrites Market 2024

Nitrites Market Size in Eastern Europe

The East European nitrites market skyrocketed to $X in 2021, growing by 23% against the previous year. In general, consumption, however, recorded a pronounced contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Nitrites Production in Eastern Europe

In value terms, nitrites production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a noticeable downturn. The growth pace was the most rapid in 2013 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Nitrites Exports

Exports in Eastern Europe

In 2021, the amount of nitrites exported in Eastern Europe fell to X tons, waning by -6.5% against the year before. Overall, exports, however, showed a noticeable expansion. The pace of growth appeared the most rapid in 2016 with an increase of 60%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, nitrites exports fell to $X in 2021. Total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -28.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 56%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia dominates exports structure, reaching X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Poland (X tons), comprising a 6.6% share of total exports.

Russia was also the fastest-growing in terms of the nitrites exports, with a CAGR of +6.3% from 2012 to 2021. Poland (-6.4%) illustrated a downward trend over the same period. While the share of Russia (+26 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Poland (-8.2 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest nitrites supplier in Eastern Europe, comprising 85% of total exports. The second position in the ranking was taken by Poland ($X), with a 9.3% share of total exports.

In Russia, nitrites exports expanded at an average annual rate of +6.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by 17%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.2%).

Nitrites Imports

Imports in Eastern Europe

In 2021, overseas purchases of nitrites were finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 45%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, nitrites imports surged to $X in 2021. Total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 32% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the Czech Republic (X tons), Poland (X tons), Romania (X tons), Ukraine (X tons), Hungary (X tons), Belarus (X tons) and Russia (X tons) was the major importer of nitrites in Eastern Europe, achieving 94% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ukraine (with a CAGR of +17.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Poland ($X) and Romania ($X) constituted the countries with the highest levels of imports in 2021, together comprising 56% of total imports. Russia, Ukraine, Hungary and Belarus lagged somewhat behind, together comprising a further 37%.

Ukraine, with a CAGR of +20.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, with an increase of 13% against the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrites import price increased by +12.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 34%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

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 Russia ($X per ton), while Romania ($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 (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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