Northern America: Nitrates Market 2024

Nitrates Market Size in Northern America

The North American nitrates market soared to $X in 2021, increasing by 15% against the previous year. Overall, consumption showed buoyant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Nitrates Production in Northern America

In value terms, nitrates production rose remarkably to $X in 2021 estimated in export price. Overall, production enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 64%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Nitrates Exports

Exports in Northern America

In 2021, after three years of decline, there was significant growth in overseas shipments of nitrates (excluding those of potassium), when their volume increased by 16% to X tons. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 28% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nitrates exports soared to $X in 2021. Total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -26.2% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by 23%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States prevails in exports structure, reaching X tons, which was near 91% of total exports in 2021. It was distantly followed by Canada (X tons), achieving a 9.4% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of nitrates (excluding those of potassium). At the same time, Canada (+7.6%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +7.6% from 2012-2021. While the share of Canada (+4.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-4.2 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest nitrates supplier in Northern America, comprising 93% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +2.7%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, growing by 5.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 when the export price increased by 16%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.5%).

Nitrates Imports

Imports in Northern America

In 2021, approx. X tons of nitrates (excluding those of potassium) were imported in Northern America; jumping by 39% compared with the year before. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrates imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States was the main importer of nitrates (excluding those of potassium) in Northern America, with the volume of imports reaching X tons, which was near 80% of total imports in 2021. It was distantly followed by Canada (X tons), mixing up a 20% share of total imports.

The United States was also the fastest-growing in terms of the nitrates (excluding those of potassium) imports, with a CAGR of +7.0% from 2012 to 2021. At the same time, Canada (+2.4%) displayed positive paces of growth. The United States (+7 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -7% from 2012 to 2021, respectively.

In value terms, the United States ($X) and Canada ($X) constituted the countries with the highest levels of imports in 2021.

Canada, with a CAGR of +5.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, falling by -12.4% against the previous year. Overall, the import price recorded a deep downturn. The growth pace was the most rapid in 2016 an increase of 24%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.4%).

Source: IndexBox Platform

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