Europe: Nitrates Market 2024

Nitrates Market Size in Europe

The Europe nitrates market reached $X in 2021, growing by 8.3% against the previous year. Overall, consumption recorded a remarkable increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Nitrates Production in Europe

In value terms, nitrates production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced increase. The pace of growth appeared the most rapid in 2017 with an increase of 64% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Nitrates Exports

Exports in Europe

In 2021, the amount of nitrates (excluding those of potassium) exported in Europe soared to X tons, growing by 25% compared with 2020 figures. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.1% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrates exports surged to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Norway dominates exports structure, accounting for X tons, which was near 62% of total exports in 2021. Poland (X tons) took the second position in the ranking, followed by Spain (X tons), Russia (X tons) and the Netherlands (X tons). All these countries together held approx. 28% share of total exports. Belgium (X tons) and Germany (X tons) followed a long way behind the leaders.

Exports from Norway increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, Russia (+24.4%), Poland (+7.0%), Germany (+3.1%) and Belgium (+2.1%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +24.4% from 2012-2021. Spain and the Netherlands experienced a relatively flat trend pattern. Norway (+5.1 p.p.) and Russia (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while Spain and the Netherlands saw its share reduced by -3.4% and -3.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X), Belgium ($X) and Spain ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 53% share of total exports. Poland, Germany, Russia and the Netherlands lagged somewhat behind, together comprising a further 29%.

Russia, with a CAGR of +6.8%, saw the highest rates of growth with regard to 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

The export price in Europe stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a noticeable reduction. The growth pace was the most rapid in 2014 an increase of 9.8% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while Norway ($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 (+2.0%), while the other leaders experienced more modest paces of growth.

Nitrates Imports

Imports in Europe

In 2021, overseas purchases of nitrates (excluding those of potassium) increased by 11% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrates imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 33%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, France (X tons), distantly followed by Germany (X tons), Italy (X tons), Spain (X tons), the UK (X tons) and the Netherlands (X tons) were the key importers of nitrates (excluding those of potassium), together mixing up 72% of total imports. Denmark (X tons), Belgium (X tons), Austria (X tons), Sweden (X tons), Poland (X tons), Russia (X tons) and Romania (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Spain (with a CAGR of +19.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 44% of total imports.

The Netherlands, with a CAGR of +13.8%, recorded the highest growth rate of 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, growing by 8.9% against the previous year. Over the period under review, the import price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2018 an increase of 21% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, 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 the Netherlands ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform