Netherlands: Urea Market 2024

Urea Market Size in the Netherlands

The Dutch urea market was estimated at $X in 2022, almost unchanged from the previous year. Over the period under review, consumption saw a perceptible shrinkage. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Urea Production in the Netherlands

In value terms, urea production dropped to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 93% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Urea Exports

Exports from the Netherlands

For the fourth year in a row, the Netherlands recorded growth in shipments abroad of urea, which increased by 35% to X tons in 2022. In general, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +102.3% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of 36%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, urea exports soared to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 97%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Belgium (X tons), Germany (X tons) and Spain (X tons) were the main destinations of urea exports from the Netherlands, together accounting for 42% of total exports. The United States, France, the UK, Canada, Italy, Sweden, Norway, Luxembourg, Brazil and Colombia lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of +52.8%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and the UK ($X) appeared to be the largest markets for urea exported from the Netherlands worldwide, with a combined 48% share of total exports. France, the United States, Spain, Canada, Norway, Italy, Luxembourg, Brazil, Sweden and Colombia lagged somewhat behind, together comprising a further 41%.

Luxembourg, with a CAGR of +43.6%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average urea export price amounted to $X per ton, increasing by 11% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 +61.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 45%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Spain ($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 the United States (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into the Netherlands

In 2022, approx. X tons of urea were imported into the Netherlands; jumping by 23% against 2021. Overall, imports saw buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 66% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, urea imports surged to $X in 2022. In general, imports showed a prominent increase. The growth pace was the most rapid in 2021 with an increase of 144%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Egypt (X tons) and Russia (X tons) were the main suppliers of urea imports to the Netherlands, together accounting for 66% of total imports. Belgium, Poland, Slovakia, Nigeria, Latvia, Croatia, the United States and Romania lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +723.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Germany ($X) and Belgium ($X) constituted the largest urea suppliers to the Netherlands, together accounting for 66% of total imports. Egypt, Nigeria, Poland, Slovakia, Latvia, Croatia, the United States and Romania lagged somewhat behind, together comprising a further 27%.

Nigeria, with a CAGR of +556.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average urea import price stood at $X per ton in 2022, surging by 22% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea import price increased by +80.1% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 47% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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