Greece: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Greece

In 2022, the Greek market for compounds with other nitrogen function (excluding isocyanates) increased by 3.1% to $X, rising for the second consecutive year after six years of decline. Overall, consumption recorded a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Greece

Compounds with other nitrogen function exports from Greece skyrocketed to X tons in 2022, increasing by 125% compared with the year before. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 2,038% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, compounds with other nitrogen function exports soared to $X in 2022. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 2,052%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Cyprus (X tons) was the main destination for compounds with other nitrogen function exports from Greece, with a 59% share of total exports. Moreover, compounds with other nitrogen function exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X tons), fourfold. Lithuania (X kg) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus totaled +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+68.6% per year) and Lithuania (+18.5% per year).

In value terms, Cyprus ($X) remains the key foreign market for compounds with other nitrogen function (excluding isocyanates) exports from Greece, comprising 63% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 16% share of total exports. It was followed by Lithuania, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus stood at +32.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+56.7% per year) and Lithuania (+18.1% per year).

Export Prices by Country

In 2022, the average export price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, rising by 9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2013 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Greece

In 2022, the amount of compounds with other nitrogen function (excluding isocyanates) imported into Greece declined to X tons, dropping by -13.8% compared with the previous year. Overall, imports saw a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 58%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, compounds with other nitrogen function imports soared to $X in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and Bulgaria (X tons) were the main suppliers of compounds with other nitrogen function imports to Greece, together accounting for 71% of total imports. The United States, Spain, China and France lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +113.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of compounds with other nitrogen function (excluding isocyanates) to Greece, comprising 40% of total imports. The second position in the ranking was held by Germany ($X), with a 17% share of total imports. It was followed by Italy, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +93.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-17.9% per year) and Italy (-13.1% per year).

Import Prices by Country

The average import price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, picking up by 67% against the previous year. Over the period under review, the import price showed a resilient expansion. The growth pace was the most rapid in 2016 when the average import price increased by 75% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :