EU: Nitrates Market 2024

Nitrates Market Size in the EU

In 2021, after two years of decline, there was significant growth in the EU nitrates market, when its value increased by 10% to $X. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Nitrates Production in the EU

In value terms, nitrates production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 71% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Nitrates Exports

Exports in the EU

In 2021, the amount of nitrates (excluding those of potassium) exported in the European Union contracted modestly to X tons, remaining constant against the year before. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, nitrates exports reached $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 18%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

The shipments of the four major exporters of nitrates (excluding those of potassium), namely Poland, Spain, the Netherlands and Belgium, represented more than two-thirds of total export. It was distantly followed by Germany (X tons), generating a 5.2% share of total exports. The following exporters - Italy (X tons) and France (X tons) - each resulted at a 3.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Italy (with a CAGR of +10.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates supplying countries in the European Union were Belgium ($X), Spain ($X) and Poland ($X), with a combined 65% share of total exports. Germany, the Netherlands, France and Italy lagged somewhat behind, together accounting for a further 32%.

Italy, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, increasing by 14% against the previous year. In general, the export price, however, saw a slight descent. The level of export peaked at $X per ton in 2013; however, from 2014 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 France ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+2.2%), while the other leaders experienced more modest paces of growth.

Nitrates Imports

Imports in the EU

In 2021, purchases abroad of nitrates (excluding those of potassium) increased by 14% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrates imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 38%. 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, France (X tons), distantly followed by Germany (X tons), Italy (X tons), Spain (X tons) and the Netherlands (X tons) represented the key importers of nitrates (excluding those of potassium), together comprising 74% of total imports. Denmark (X tons), Belgium (X tons), Austria (X tons), Sweden (X tons), Poland (X tons) and Romania (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Spain (with a CAGR of +19.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Germany ($X) were the countries with the highest levels of imports in 2021, with a combined 49% share of total imports.

Among the main importing countries, the Netherlands, with a CAGR of +13.8%, 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 the European Union stood at $X per ton in 2021, increasing by 7.6% against the previous year. Overall, the import price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2018 when the import price increased by 23%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 the Netherlands ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :