Eastern Europe: Urea Market 2024

Urea Market Size in Eastern Europe

The East European urea market soared to $X in 2022, jumping by 28% against the previous year. Over the period under review, consumption continues to indicate a strong increase. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Urea Production in Eastern Europe

In value terms, urea production contracted to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 39%. As a result, production reached the peak level of $X, and then reduced in the following year.

Urea Exports

Exports in Eastern Europe

Urea exports was estimated at X tons in 2022, approximately equating 2021. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 21%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, urea exports reduced to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 60%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the largest exporting country with an export of about X tons, which amounted to 60% of total exports. It was distantly followed by Poland (X tons), Lithuania (X tons) and Slovakia (X tons), together comprising a 33% share of total exports. The following exporters - Belarus (X tons) and Estonia (X tons) - each recorded a 4.3% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to urea exports from Russia stood at +2.9%. At the same time, Estonia (+199.3%), Poland (+19.7%), Slovakia (+16.2%) and Lithuania (+8.0%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +199.3% from 2012-2022. Belarus experienced a relatively flat trend pattern. Poland (+18 p.p.), Russia (+13 p.p.), Slovakia (+4.2 p.p.), Lithuania (+2.9 p.p.) and Estonia (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest urea supplier in Eastern Europe, comprising 53% of total exports. The second position in the ranking was held by Poland ($X), with a 26% share of total exports. It was followed by Slovakia, with a 6.4% share.

In Russia, urea exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+21.8% per year) and Slovakia (+16.4% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, with a decrease of -4.8% against the previous year. Over the period under review, the export price showed a mild decline. The most prominent rate of growth was recorded in 2021 when the export price increased by 67% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Estonia ($X per ton) and Poland ($X per ton), while Lithuania ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Urea Imports

Imports in Eastern Europe

Urea imports soared to X tons in 2022, with an increase of 55% against 2021 figures. Overall, imports recorded strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, urea imports soared to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 126%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) and Romania (X tons) represented the major importers of urea in Eastern Europe, together finishing at near 46% of total imports. It was distantly followed by the Czech Republic (X tons), Bulgaria (X tons), Hungary (X tons), Slovakia (X tons) and Lithuania (X tons), together constituting a 41% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Romania (with a CAGR of +36.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Romania ($X) and the Czech Republic ($X) constituted the countries with the highest levels of imports in 2022, with a combined 62% share of total imports.

In terms of the main importing countries, Romania, with a CAGR of +42.4%, saw 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 2022, with an increase of 41% against the previous year. Over the period under review, the import price recorded a tangible increase. The pace of growth was the most pronounced in 2021 an increase of 73% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($X per ton) and the Czech Republic ($X per ton), while Hungary ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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