MENA: Nitrogen Market 2024

Nitrogen Market Size in MENA

In 2021, after two years of decline, there was growth in the MENA's nitrogen market, when its value increased by 3.9% to $X. The market value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Nitrogen Production in MENA

In value terms, nitrogen production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Nitrogen Exports

Exports in MENA

In 2021, after two years of growth, there was significant decline in shipments abroad of nitrogen, when their volume decreased by -16.1% to X cubic meters. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 67%. Over the period under review, the exports attained the peak figure at X cubic meters in 2020, and then dropped markedly in the following year.

In value terms, nitrogen exports declined notably to $X in 2021. In general, exports recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by 56%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait was the key exporting country with an export of around X cubic meters, which finished at 55% of total exports. It was distantly followed by the United Arab Emirates (X cubic meters), Turkey (X cubic meters) and Israel (X cubic meters), together committing a 39% share of total exports. Saudi Arabia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to nitrogen exports from Kuwait stood at -4.9%. At the same time, Israel (+77.8%), Turkey (+11.1%), the United Arab Emirates (+6.8%) and Saudi Arabia (+6.8%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +77.8% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates, Israel and Turkey increased by +11, +7.8 and +5.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X), the United Arab Emirates ($X) and Turkey ($X) were the countries with the highest levels of exports in 2021, together comprising 78% of total exports. These countries were followed by Israel and Saudi Arabia, which together accounted for a further 8.5%.

In terms of the main exporting countries, Israel, with a CAGR of +78.3%, saw 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

The export price in MENA stood at $X per cubic meter in 2021, falling by -9.8% against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2014 an increase of 46%. As a result, the export price attained the peak level of $X per cubic meter. From 2015 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while Kuwait ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+0.3%), while the other leaders experienced a decline in the export price figures.

Nitrogen Imports

Imports in MENA

In 2021, imports of nitrogen in MENA dropped to X cubic meters, which is down by -5.2% against the previous year's figure. Over the period under review, imports recorded a noticeable decline. The pace of growth was the most pronounced in 2015 when imports increased by 27% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, nitrogen imports dropped significantly to $X in 2021. In general, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2015 when imports increased by 19%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the key importing country with an import of around X cubic meters, which accounted for 46% of total imports. Israel (X cubic meters) held the second position in the ranking, distantly followed by the United Arab Emirates (X cubic meters) and Jordan (X cubic meters). All these countries together took near 42% share of total imports. The following importers - Iraq (X cubic meters), Egypt (X cubic meters) and Bahrain (X cubic meters) - together made up 8.7% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Israel (with a CAGR of +37.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported nitrogen in MENA, comprising 28% of total imports. The second position in the ranking was taken by Israel ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia stood at -5.7%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+18.5% per year) and the United Arab Emirates (+2.0% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per cubic meter, with a decrease of -11.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the import price increased by 32% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per cubic meter), while Israel ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform