India: Nitrates Market 2025

Nitrates Market Size in India

The Indian nitrates market reached $X in 2021, surging by 4.5% against the previous year. Over the period under review, consumption recorded prominent growth. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Nitrates Production in India

In value terms, nitrates production rose sharply to $X in 2021 estimated in export price. Overall, production showed a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 41% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Nitrates Exports

Exports from India

In 2021, shipments abroad of nitrates (excluding those of potassium) increased by 8% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, nitrates exports soared to $X in 2021. Overall, exports saw a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Oman (X tons), Vietnam (X tons) and Saudi Arabia (X tons) were the main destinations of nitrates exports from India, with a combined 45% share of total exports. The United States, Turkey, the United Arab Emirates, Japan, Djibouti, Thailand, the Philippines, the UK, Sri Lanka and Indonesia lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +120.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for nitrates (excluding those of potassium) exports from India, comprising 26% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an 8% share of total exports. It was followed by Turkey, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+15.5% per year) and Turkey (+62.7% per year).

Export Prices by Country

In 2021, the average nitrates export price amounted to $X per ton, jumping by 39% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrates export price increased by +75.0% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrates Imports

Imports into India

In 2021, approx. X tons of nitrates (excluding those of potassium) were imported into India; remaining stable against the year before. Over the period under review, imports, however, recorded a deep contraction. The growth pace was the most rapid in 2015 with an increase of 107%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitrates imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 75% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Spain (X tons), South Korea (X tons) and China (X tons) were the main suppliers of nitrates imports to India, together comprising 59% of total imports. These countries were followed by Russia, Taiwan (Chinese), Israel, Norway, Germany, the United Arab Emirates, Thailand, Poland and South Africa, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +143.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of nitrates (excluding those of potassium) to India, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.5% per year) and South Korea (+8.5% per year).

Import Prices by Country

The average nitrates import price stood at $X per ton in 2021, rising by 45% against the previous year. In general, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrates import price increased by +126.8% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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