EU: Nitrites Market 2024

Nitrites Market Size in the EU

After two years of growth, the EU nitrites market decreased by -8% to $X in 2021. Over the period under review, consumption, however, enjoyed a strong expansion. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Nitrites Production in the EU

In value terms, nitrites production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 40%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Nitrites Exports

Exports in the EU

In 2021, shipments abroad of nitrites was finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2018 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, nitrites exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, the Netherlands (X tons), distantly followed by France (X tons), Poland (X tons), Sweden (X tons), Spain (X tons), Italy (X tons) and Belgium (X tons) were the largest exporters of nitrites, together mixing up 92% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Netherlands (with a CAGR of +6.6%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Sweden ($X) were the countries with the highest levels of exports in 2021, together accounting for 56% of total exports.

The Netherlands, with a CAGR of +6.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 4.4% against the previous year. Export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrites export price increased by +54.8% against 2014 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 41%. The level of export peaked in 2021 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Belgium ($X per ton) and Italy ($X per ton), while Poland ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Nitrites Imports

Imports in the EU

In 2021, supplies from abroad of nitrites decreased by -3.4% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports saw a slight decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 34% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitrites imports reached $X in 2021. The total import value increased at an average annual rate of +1.5% 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 when imports increased by 20%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons), distantly followed by France (X tons), Germany (X tons), Spain (X tons), Belgium (X tons) and Austria (X tons) represented the largest importers of nitrites, together generating 76% of total imports. Sweden (X tons), Italy (X tons), the Czech Republic (X tons), Poland (X tons), Romania (X tons) and Greece (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Austria (with a CAGR of +33.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported nitrites in the European Union, comprising 27% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands amounted to +3.5%. In the other countries, the average annual rates were as follows: Germany (-1.9% per year) and France (+0.3% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, picking up by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2014 an increase of 26%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Greece ($X per ton), while France ($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 (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :