Hungary: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Hungary

In 2021, the Hungarian ammonium nitrate market increased by 132% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, recorded a slight reduction. Ammonium nitrate consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Ammonium Nitrate Production in Hungary

In value terms, ammonium nitrate production declined notably to $X in 2021 estimated in export price. Over the period under review, production faced a precipitous setback. Over the period under review, production attained the peak level at $X in 2020, and then dropped markedly in the following year.

Ammonium Nitrate Exports

Exports from Hungary

In 2021, the amount of ammonium nitrate exported from Hungary declined sharply to X tons, which is down by -56.7% on the previous year's figure. In general, exports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,707% against the previous year. The exports peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, ammonium nitrate exports shrank significantly to $X in 2021. Over the period under review, exports recorded a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of 1,633%. Over the period under review, the exports reached the peak figure at $X in 2020, and then reduced notably in the following year.

Exports by Country

Romania (X tons), Poland (X tons) and Serbia (X tons) were the main destinations of ammonium nitrate exports from Hungary, with a combined 77% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +38.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ammonium nitrate exported from Hungary were Romania ($X), Poland ($X) and Serbia ($X), with a combined 76% share of total exports.

Among the main countries of destination, Poland, with a CAGR of +31.6%, recorded the highest growth rate of 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

In 2021, the average ammonium nitrate export price amounted to $X per ton, surging by 14% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 22%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Bosnia and Herzegovina ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Italy ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (-3.2%), while the prices for the other major destinations experienced a decline.

Ammonium Nitrate Imports

Imports into Hungary

In 2021, purchases abroad of ammonium nitrate was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 48%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, ammonium nitrate imports skyrocketed to $X in 2021. In general, imports, however, showed a abrupt shrinkage. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Slovakia (X tons) constituted the largest supplier of ammonium nitrate to Hungary, accounting for a 63% share of total imports. Moreover, ammonium nitrate imports from Slovakia exceeded the figures recorded by the second-largest supplier, Romania (X tons), fourfold. The third position in this ranking was held by Sweden (X tons), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Slovakia stood at +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-6.6% per year) and Sweden (+84.6% per year).

In value terms, Slovakia ($X) constituted the largest supplier of ammonium nitrate to Hungary, comprising 56% of total imports. The second position in the ranking was held by Romania ($X), with a 22% share of total imports. It was followed by Sweden, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Slovakia totaled +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-8.4% per year) and Sweden (+63.0% per year).

Import Prices by Country

In 2021, the average ammonium nitrate import price amounted to $X per ton, with an increase of 53% against the previous year. Over the period under review, the import price, however, recorded a abrupt decline. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+11.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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