Europe: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Europe

The Europe potassium nitrate market expanded rapidly to $X in 2022, with an increase of 10% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the near future.

Potassium Nitrate Production in Europe

In value terms, potassium nitrate production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 32% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Potassium Nitrate Exports

Exports in Europe

In 2022, after two years of growth, there was decline in overseas shipments of potassium nitrates, when their volume decreased by -4.1% to X tons. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 37%. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, potassium nitrate exports surged to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.2% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 33%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

In 2022, the Netherlands (X tons) represented the key exporter of potassium nitrates, generating 43% of total exports. Denmark (X tons) took the second position in the ranking, followed by Belarus (X tons), Spain (X tons), Belgium (X tons) and Russia (X tons). All these countries together took approx. 51% share of total exports. Poland (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to potassium nitrate exports from the Netherlands stood at +17.1%. At the same time, Belarus (+338.9%), Poland (+11.6%), Russia (+3.9%) and Spain (+2.2%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Europe, with a CAGR of +338.9% from 2012-2022. Denmark experienced a relatively flat trend pattern. By contrast, Belgium (-12.5%) illustrated a downward trend over the same period. The Netherlands (+29 p.p.), Belarus (+14 p.p.) and Poland (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Spain, Denmark and Belgium saw its share reduced by -3.1%, -10.1% and -30.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest potassium nitrate supplier in Europe, comprising 46% of total exports. The second position in the ranking was taken by Belarus ($X), with a 12% share of total exports. It was followed by Spain, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands totaled +17.6%. In the other countries, the average annual rates were as follows: Belarus (+319.4% per year) and Spain (+2.9% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, rising by 37% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($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 (+2.3%), while the other leaders experienced more modest paces of growth.

Potassium Nitrate Imports

Imports in Europe

In 2022, potassium nitrate imports in Europe dropped to X tons, declining by -10.9% on the year before. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 17%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) and the Netherlands (X tons) were the largest importers of potassium nitrates in Europe, together comprising 67% of total imports. It was distantly followed by Italy (X tons), comprising an 8.5% share of total imports. Belgium (X tons), Poland (X tons), France (X tons), Greece (X tons) and Germany (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +9.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium nitrate importing markets in Europe were Spain ($X), the Netherlands ($X) and Italy ($X), together comprising 73% of total imports.

The Netherlands, with a CAGR of +10.6%, 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 2022, growing by 57% against the previous year. Import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +64.6% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Germany ($X per ton) and Belgium ($X per ton), while Spain ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform