Europe: Nitrogen Market 2024

Nitrogen Market Size in Europe

The Europe nitrogen market soared to $X in 2021, jumping by 71% against the previous year. Over the period under review, consumption continues to indicate resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Nitrogen Production in Europe

In value terms, nitrogen production shrank to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Nitrogen Exports

Exports in Europe

For the seventh year in a row, Europe recorded growth in shipments abroad of nitrogen, which increased by 8% to X cubic meters in 2021. Over the period under review, exports recorded a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 23% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, nitrogen exports soared to $X in 2021. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium represented the main exporter of nitrogen in Europe, with the volume of exports reaching X cubic meters, which was near 50% of total exports in 2021. It was distantly followed by Germany (X cubic meters), France (X cubic meters), Poland (X cubic meters) and Austria (X cubic meters), together making up a 31% share of total exports. The following exporters - the Czech Republic (X cubic meters) and Italy (X cubic meters) - together made up 6.8% of total exports.

Belgium was also the fastest-growing in terms of the nitrogen exports, with a CAGR of +25.5% from 2012 to 2021. At the same time, Austria (+10.1%), Italy (+6.5%), Germany (+6.0%), France (+3.4%) and Poland (+1.7%) displayed positive paces of growth. By contrast, the Czech Republic (-1.0%) illustrated a downward trend over the same period. While the share of Belgium (+35 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Germany (-4.3 p.p.), Poland (-5.2 p.p.), France (-5.9 p.p.) and the Czech Republic (-6.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X), France ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2021, together comprising 51% of total exports. These countries were followed by Austria, Poland, the Czech Republic and Italy, which together accounted for a further 19%.

Among the main exporting countries, Austria, with a CAGR of +16.7%, recorded the highest rates of growth with regard to the value of exports, 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 cubic meter in 2021, growing by 18% against the previous year. In general, the export price, however, showed a abrupt contraction. Over the period under review, the export prices hit record highs at $X per cubic meter in 2012; however, from 2013 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 Austria ($X per cubic meter), while Belgium ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+6.0%), while the other leaders experienced mixed trends in the export price figures.

Nitrogen Imports

Imports in Europe

In 2021, approx. X cubic meters of nitrogen were imported in Europe; growing by 38% against 2020. Over the period under review, imports, however, saw a slight decrease. Over the period under review, imports hit record highs at X cubic meters in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, nitrogen imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands represented the main importing country with an import of about X cubic meters, which resulted at 32% of total imports. Germany (X cubic meters) took the second position in the ranking, distantly followed by Belgium (X cubic meters), Slovakia (X cubic meters), Hungary (X cubic meters), the Czech Republic (X cubic meters) and France (X cubic meters). All these countries together took near 42% share of total imports. Luxembourg (X cubic meters), Slovenia (X cubic meters), Greece (X cubic meters), Poland (X cubic meters), Denmark (X cubic meters) and Switzerland (X cubic meters) held a little 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 Switzerland (with a CAGR of +48.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported nitrogen in Europe, comprising 29% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Belgium, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands amounted to +3.6%. In the other countries, the average annual rates were as follows: Germany (-1.9% per year) and Belgium (-0.7% per year).

Import Prices by Country

The import price in Europe stood at $X per cubic meter in 2021, dropping by -5.7% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrogen import price decreased by -14.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 23%. As a result, import price reached the peak level of $X per cubic meter. From 2019 to 2021, the 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 Switzerland ($X per cubic meter), while Poland ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform