EU: Nitrogen Market 2024

Nitrogen Market Size in the EU

The EU nitrogen market surged to $X in 2021, with an increase of 129% against the previous year. Over the period under review, consumption saw a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Nitrogen Production in the EU

In value terms, nitrogen production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period 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 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Nitrogen Exports

Exports in the EU

For the seventh consecutive year, the European Union recorded growth in shipments abroad of nitrogen, which increased by 9.4% to X cubic meters in 2021. Over the period under review, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 27%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, nitrogen exports surged to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium represented the largest exporting country with an export of around X cubic meters, which amounted to 51% of total exports. Germany (X cubic meters) ranks second in terms of the total exports with a 13% share, followed by France (8.9%), Poland (5.6%) and Austria (4.8%). The following exporters - the Czech Republic (X cubic meters) and Italy (X cubic meters) - together made up 7% of total exports.

Belgium was also the fastest-growing in terms of the nitrogen exports, with a CAGR of +25.5% from 2012 to 2021. At the same time, Austria (+10.1%), Italy (+6.5%), Germany (+6.0%), France (+3.4%) and Poland (+1.7%) displayed positive paces of growth. By contrast, the Czech Republic (-1.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belgium increased by +36 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X), France ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 56% share of total exports. Austria, Poland, the Czech Republic and Italy lagged somewhat behind, together accounting for a further 21%.

In terms of the main exporting countries, Austria, with a CAGR of +16.7%, saw the highest growth rate of the value of exports, 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 cubic meter in 2021, rising by 19% against the previous year. Overall, the export price, however, saw a drastic downturn. Over the period under review, the export prices hit record highs at $X per cubic meter in 2012; however, from 2013 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 Austria ($X per cubic meter), while Belgium ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+6.0%), while the other leaders experienced mixed trends in the export price figures.

Nitrogen Imports

Imports in the EU

In 2021, nitrogen imports in the European Union surged to X cubic meters, picking up by 37% on 2020 figures. Overall, imports, however, saw a mild slump. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, nitrogen imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained consistent, with only minor 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

The Netherlands was the key importer of nitrogen in the European Union, with the volume of imports resulting at X cubic meters, which was approx. 33% of total imports in 2021. Germany (X cubic meters) held the second position in the ranking, distantly followed by Belgium (X cubic meters), Slovakia (X cubic meters), Hungary (X cubic meters), the Czech Republic (X cubic meters) and France (X cubic meters). All these countries together held approx. 44% share of total imports. Luxembourg (X cubic meters), Slovenia (X cubic meters), Greece (X cubic meters), Poland (X cubic meters), Denmark (X cubic meters) and Austria (X cubic meters) 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 Poland (with a CAGR of +43.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported nitrogen in the European Union, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Belgium, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in the Netherlands totaled +3.6%. In the other countries, the average annual rates were as follows: Germany (-1.9% per year) and Belgium (-0.7% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per cubic meter, reducing by -3.5% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrogen import price decreased by -14.5% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2019 to 2021, the import prices remained 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 Austria ($X per cubic meter), while Poland ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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