Europe: Ammonia Market 2024

Ammonia Market Size in Europe

In 2022, the Europe ammonia market increased by 39% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, recorded a perceptible curtailment. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ammonia Production in Europe

In value terms, ammonia production contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 74% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Ammonia Exports

Exports in Europe

In 2022, exports of anhydrous ammonia in Europe surged to X tons, increasing by 21% on the previous year. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 52%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, ammonia exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 70% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the major exporting country with an export of around X tons, which recorded 59% of total exports. The Netherlands (X tons) held the second position in the ranking, followed by Germany (X tons). All these countries together took approx. 26% share of total exports. France (X tons), the UK (X tons) and Belgium (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ammonia exports from Russia stood at +3.5%. At the same time, France (+18.4%), Belgium (+13.8%), Germany (+9.9%) and the Netherlands (+6.6%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in Europe, with a CAGR of +18.4% from 2012-2022. By contrast, the UK (-6.5%) illustrated a downward trend over the same period. Russia (+6.7 p.p.), Germany (+6.6 p.p.), the Netherlands (+4.5 p.p.) and France (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while the UK saw its share reduced by -2.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), the Netherlands ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 76% of total exports. These countries were followed by Belgium, France and the UK, which together accounted for a further 13%.

Belgium, with a CAGR of +22.5%, saw the highest growth rate of 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

In 2022, the export price in Europe amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price, however, saw a noticeable decrease. The growth pace was the most rapid in 2021 when the export price increased by 61% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Belgium ($X per ton), while Russia ($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 (+7.6%), while the other leaders experienced more modest paces of growth.

Ammonia Imports

Imports in Europe

Ammonia imports surged to X tons in 2022, picking up by 68% on 2021. In general, imports continue to indicate resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ammonia imports surged to $X in 2022. Over the period under review, imports showed resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 140% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Belgium was the largest importing country with an import of around X tons, which resulted at 32% of total imports. France (X tons) ranks second in terms of the total imports with a 12% share, followed by Germany (9.8%), Norway (6.7%) and Spain (5.3%). The following importers - Italy (X tons), Sweden (X tons), the Netherlands (X tons), Portugal (X tons), the Czech Republic (X tons), Finland (X tons), Bulgaria (X tons) and Denmark (X tons) - together made up 27% of total imports.

Imports into Belgium increased at an average annual rate of +13.4% from 2012 to 2022. At the same time, Bulgaria (+115.3%), Italy (+24.8%), Denmark (+20.4%), the Netherlands (+12.6%), Sweden (+11.5%), Germany (+8.9%), Portugal (+7.6%), France (+6.8%), the Czech Republic (+4.7%), Norway (+3.6%) and Spain (+3.5%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Europe, with a CAGR of +115.3% from 2012-2022. By contrast, Finland (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium, Italy and Bulgaria increased by +11, +3.3 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X), Germany ($X) and Norway ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 38% of total imports. France, Finland, Spain, the Netherlands, Portugal, Bulgaria, Sweden, Italy, the Czech Republic and Denmark lagged somewhat behind, together accounting for a further 54%.

In terms of the main importing countries, Bulgaria, with a CAGR of +123.0%, recorded the highest growth rate of 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 Europe stood at $X per ton in 2022, surging by 30% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 44%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform