Europe: Nitrites Market 2024

Nitrites Market Size in Europe

In 2021, after three years of growth, there was decline in the Europe nitrites market, when its value decreased by -4.6% to $X. Over the period under review, consumption, however, showed buoyant growth. As a result, consumption attained the peak level of $X, and then fell slightly in the following year.

Nitrites Production in Europe

In value terms, nitrites production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 33% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Nitrites Exports

Exports in Europe

After two years of decline, overseas shipments of nitrites increased by 2% to X tons in 2021. Over the period under review, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 14% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, nitrites exports expanded remarkably to $X in 2021. Overall, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia was the key exporter of nitrites in Europe, with the volume of exports finishing at X tons, which was approx. 61% of total exports in 2021. The Netherlands (X tons) ranks second in terms of the total exports with an 11% share, followed by France (6.4%). Poland (X tons), Sweden (X tons), Spain (X tons), Italy (X tons), Belgium (X tons) and Croatia (X tons) followed a long way behind the leaders.

Exports from Russia increased at an average annual rate of +6.3% from 2012 to 2021. At the same time, Croatia (+29.4%) and the Netherlands (+6.6%) displayed positive paces of growth. Moreover, Croatia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +29.4% from 2012-2021. Sweden, France and Italy experienced a relatively flat trend pattern. By contrast, Poland (-6.4%), Spain (-8.5%) and Belgium (-9.9%) illustrated a downward trend over the same period. Russia (+55 p.p.), the Netherlands (+10 p.p.), France (+6.4 p.p.), Sweden (+3.6 p.p.), Poland (+3.1 p.p.), Italy (+2.2 p.p.), Spain (+2 p.p.), Croatia (+1.6 p.p.) and Belgium (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest nitrites supplier in Europe, comprising 47% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total exports. It was followed by France, with a 7.5% share.

In Russia, nitrites exports increased at an average annual rate of +6.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Netherlands (+6.6% per year) and France (0.0% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, surging by 5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2014 when the export price increased by 16% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

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 ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.2%), while the other leaders experienced more modest paces of growth.

Nitrites Imports

Imports in Europe

In 2021, overseas purchases of nitrites decreased by -1.1% to X tons, falling for the third year in a row after three years of growth. In general, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 42% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitrites imports stood at $X in 2021. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 38% against the previous year. 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, the Netherlands (X tons), distantly followed by France (X tons), Germany (X tons), the UK (X tons), Spain (X tons), Switzerland (X tons), Belgium (X tons) and Austria (X tons) were the main importers of nitrites, together making up 75% of total imports. The following importers - Norway (X tons), Sweden (X tons), Italy (X tons), the Czech Republic (X tons) and Poland (X tons) - together made up 14% of total imports.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +33.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported nitrites in Europe, comprising 22% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.1% share of total imports. It was followed by France, with a 9% share.

In the Netherlands, nitrites imports expanded at an average annual rate of +3.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (-1.9% per year) and France (+0.3% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2021, picking up by 8.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2020 when the import price increased by 23%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while Switzerland ($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 (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform