Europe: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Europe

The Europe ammonium nitrate market reached $X in 2021, flattening at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 6.9% against the previous year. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Ammonium Nitrate Production in Europe

In value terms, ammonium nitrate production totaled $X in 2021 estimated in export price. Over the period under review, production saw a perceptible slump. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ammonium Nitrate Exports

Exports in Europe

For the third consecutive year, Europe recorded growth in overseas shipments of ammonium nitrate, which increased by 9.6% to X tons in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ammonium nitrate exports surged to $X in 2021. In general, exports, however, continue to indicate a perceptible setback. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Russia prevails in exports structure, reaching X tons, which was approx. 71% of total exports in 2021. Lithuania (X tons) ranks second in terms of the total exports with a 6.7% share, followed by Bulgaria (5.7%) and Sweden (5.2%). The UK (X tons) and Belgium (X tons) took a little share of total exports.

Exports from Russia increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, the UK (+19.7%) and Bulgaria (+5.0%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing exporter exported in Europe, with a CAGR of +19.7% from 2012-2021. Sweden experienced a relatively flat trend pattern. By contrast, Lithuania (-1.9%) and Belgium (-4.6%) illustrated a downward trend over the same period. While the share of Russia (+20 p.p.), the UK (+2.5 p.p.) and Bulgaria (+2.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest ammonium nitrate supplier in Europe, comprising 63% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 7.7% share of total exports. It was followed by Lithuania, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +1.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Bulgaria (+6.8% per year) and Lithuania (-3.0% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, surging by 50% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decrease. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+1.7%), while the other leaders experienced a decline in the export price figures.

Ammonium Nitrate Imports

Imports in Europe

In 2021, approx. X tons of ammonium nitrate were imported in Europe; with a decrease of -2.4% compared with the previous year. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 17% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, ammonium nitrate imports skyrocketed to $X in 2021. In general, imports showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of ammonium nitrate, namely Ukraine, Romania, the UK and France, represented more than half of total import. It was distantly followed by the Netherlands (X tons), Lithuania (X tons), Latvia (X tons) and Poland (X tons), together committing a 20% share of total imports. Belgium (X tons), Hungary (X tons), Serbia (X tons), Estonia (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +21.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium nitrate importing markets in Europe were Ukraine ($X), Romania ($X) and the UK ($X), together comprising 45% of total imports.

Romania, with a CAGR of +21.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Europe stood at $X per ton in 2021, picking up by 54% against the previous year. Overall, the import price, however, recorded a slight decrease. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Romania ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform