Italy: Urea Market 2024

Urea Market Size in Italy

The Italian urea market soared to $X in 2022, surging by 60% against the previous year. In general, consumption showed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Urea Production in Italy

In value terms, urea production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 70%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Urea Exports

Exports from Italy

In 2022, exports of urea from Italy surged to X tons, picking up by 98% against 2021. Over the period under review, exports showed mild growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, urea exports skyrocketed to $X in 2022. Overall, exports recorded a measured increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), Hungary (X tons) and Slovenia (X tons) were the main destinations of urea exports from Italy, together accounting for 49% of total exports. Austria, the Czech Republic, Croatia, Turkey, Slovakia, Spain, France and Romania lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +137.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for urea exported from Italy were Hungary ($X), the Netherlands ($X) and Austria ($X), with a combined 52% share of total exports. Croatia, Slovenia, Turkey, Slovakia, the Czech Republic, Spain, France and Romania lagged somewhat behind, together accounting for a further 41%.

Slovakia, with a CAGR of +126.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average urea export price stood at $X per ton in 2022, rising by 35% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea export price increased by +75.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 42% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to the Czech Republic ($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 Brazil (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into Italy

In 2022, urea imports into Italy soared to X tons, growing by 19% against the previous year's figure. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, urea imports soared to $X in 2022. Overall, imports continue to indicate a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Egypt (X tons), Algeria (X tons) and Germany (X tons) were the main suppliers of urea imports to Italy, together accounting for 61% of total imports. Slovakia, Russia, Libya, Turkmenistan, Poland, France, the Netherlands, Austria, Ukraine and Uzbekistan lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Turkmenistan (with a CAGR of +117.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest urea suppliers to Italy were Egypt ($X), Algeria ($X) and Germany ($X), with a combined 60% share of total imports. Turkmenistan, Libya, Poland, Russia, Austria, Slovakia, France, Ukraine, Uzbekistan and the Netherlands lagged somewhat behind, together accounting for a further 35%.

In terms of the main suppliers, Turkmenistan, with a CAGR of +233.4%, 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 average urea import price amounted to $X per ton, jumping by 73% against the previous year. In general, the import price posted a strong expansion. 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 Poland ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkmenistan (+53.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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