Europe: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in Europe

The Europe sodium nitrate market surged to $X in 2022, with an increase of 33% against the previous year. Overall, consumption, however, recorded a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sodium Nitrate Production in Europe

In value terms, sodium nitrate production declined slightly to $X in 2022 estimated in export price. Overall, production saw a mild shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume increased by 14%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Sodium Nitrate Exports

Exports in Europe

For the third year in a row, Europe recorded decline in shipments abroad of sodium nitrate, which decreased by -9% to X tons in 2022. Over the period under review, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2019 when exports increased by 67% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, sodium nitrate exports shrank to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 26% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands prevails in exports structure, resulting at X tons, which was near 67% of total exports in 2022. It was distantly followed by Russia (X tons), Denmark (X tons) and the Czech Republic (X tons), together creating a 22% share of total exports. The following exporters - Poland (X tons), Spain (X tons) and the UK (X tons) - together made up 6.5% of total exports.

Exports from the Netherlands increased at an average annual rate of +38.8% from 2012 to 2022. At the same time, the Czech Republic (+60.8%), Russia (+15.5%) and Spain (+3.1%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in Europe, with a CAGR of +60.8% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, the UK (-5.9%) and Denmark (-7.5%) illustrated a downward trend over the same period. While the share of the Netherlands (+63 p.p.), the Czech Republic (+6.4 p.p.) and Russia (+5.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Poland (-2.4 p.p.), the UK (-3.6 p.p.) and Denmark (-19.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) emerged as the largest sodium nitrate supplier in Europe, comprising 45% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 16% share of total exports. It was followed by Russia, with a 12% share.

In the Netherlands, sodium nitrate exports increased at an average annual rate of +32.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Czech Republic (+63.9% per year) and Russia (+11.1% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, with an increase of 6.7% against the previous year. Overall, the export price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Sodium Nitrate Imports

Imports in Europe

In 2022, approx. X tons of sodium nitrate were imported in Europe; rising by 79% on 2021 figures. Overall, imports, however, recorded a noticeable descent. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sodium nitrate imports surged to $X in 2022. Over the period under review, imports, however, recorded a abrupt descent. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands prevails in imports structure, reaching X tons, which was approx. 54% of total imports in 2022. Spain (X tons) took an 8% share (based on physical terms) of total imports, which put it in second place, followed by France (5.6%) and Germany (5.1%). Belgium (X tons), Sweden (X tons), Poland (X tons), Austria (X tons), Italy (X tons) and Estonia (X tons) held a little share of total imports.

The Netherlands was also the fastest-growing in terms of the sodium nitrate imports, with a CAGR of +23.3% from 2012 to 2022. At the same time, Austria (+5.2%) and France (+2.6%) displayed positive paces of growth. By contrast, Estonia (-1.4%), Germany (-3.2%), Italy (-3.4%), Poland (-4.2%), Sweden (-7.7%), Belgium (-15.5%) and Spain (-20.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, France and Austria increased by +50, +2.8 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sodium nitrate importing markets in Europe were the Netherlands ($X), France ($X) and Spain ($X), with a combined 42% share of total imports.

Among the main importing countries, the Netherlands, with a CAGR of +20.9%, 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

In 2022, the import price in Europe amounted to $X per ton, reducing by -2.8% against the previous year. Overall, the import price showed a slight decrease. The pace of growth was the most pronounced in 2021 an increase of 49% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform