EU: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in the EU

In 2022, the EU potassium nitrate market increased by 12% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Potassium Nitrate Production in the EU

In value terms, potassium nitrate production soared to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Potassium Nitrate Exports

Exports in the EU

In 2022, after three years of growth, there was significant decline in shipments abroad of potassium nitrates, when their volume decreased by -6.9% to X tons. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 38% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, potassium nitrate exports surged to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 33%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, the Netherlands (X tons) represented the main exporter of potassium nitrates, mixing up 53% of total exports. Denmark (X tons) took the second position in the ranking, distantly followed by Spain (X tons) and Belgium (X tons). All these countries together held near 39% share of total exports. Poland (X tons) followed a long way behind the leaders.

The Netherlands was also the fastest-growing in terms of the potassium nitrates exports, with a CAGR of +17.1% from 2012 to 2022. At the same time, Poland (+11.6%) and Spain (+2.2%) displayed positive paces of growth. Denmark experienced a relatively flat trend pattern. By contrast, Belgium (-12.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands and Poland increased by +38 and +2.2 percentage points, respectively.

In value terms, the Netherlands ($X) remains the largest potassium nitrate supplier in the European Union, comprising 54% of total exports. The second position in the ranking was taken by Spain ($X), with a 14% share of total exports. It was followed by Denmark, with a 13% share.

In the Netherlands, potassium nitrate exports increased at an average annual rate of +17.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+2.9% per year) and Denmark (-2.2% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, increasing by 38% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%), while the other leaders experienced more modest paces of growth.

Potassium Nitrate Imports

Imports in the EU

After two years of growth, purchases abroad of potassium nitrates decreased by -10.7% to X tons in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 17%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tons) and the Netherlands (X tons) dominates imports structure, together mixing up 70% of total imports. It was distantly followed by Italy (X tons), making up an 8.9% share of total imports. Belgium (X tons), Poland (X tons), France (X tons), Greece (X tons) and Germany (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Netherlands (with a CAGR of +9.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the Netherlands ($X) and Italy ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 76% of total imports.

In terms of the main importing countries, the Netherlands, with a CAGR of +10.6%, 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

In 2022, the import price in the European Union amounted to $X per ton, growing by 58% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +65.5% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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