Norway: Fertilizer Market 2024

Fertilizer Market Size in Norway

In 2022, the Norwegian fertilizer market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Fertilizer Production in Norway

In value terms, fertilizer production declined slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fertilizer Exports

Exports from Norway

In 2022, the amount of fertilizers exported from Norway fell modestly to X tons, shrinking by X% on 2021 figures. Over the period under review, total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2016 indices. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell slightly in the following year.

In value terms, fertilizer exports fell significantly to $X in 2022. In general, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then contracted notably in the following year.

Exports by Country

Brazil (X tons), the United States (X tons) and China (X tons) were the main destinations of fertilizer exports from Norway, together accounting for X% of total exports. Spain, the UK, Sweden, Thailand, Ireland, Turkey, Guatemala, Poland, Argentina and India lagged somewhat behind, together comprising a further X%.

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

In value terms, Brazil ($X) emerged as the key foreign market for fertilizers exports from Norway, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Brazil totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average fertilizer export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Thailand ($X per ton), while the average price for exports to Sweden ($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 Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Norway

In 2022, the amount of fertilizers imported into Norway soared to X tons, picking up by X% compared with the previous year's figure. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, fertilizer imports soared to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Sweden (X tons) and Belgium (X tons) were the main suppliers of fertilizer imports to Norway, together accounting for X% of total imports. The Netherlands, Spain, Finland and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), Sweden ($X) and Finland ($X) appeared to be the largest fertilizer suppliers to Norway, with a combined X% share of total imports. Belgium, Spain, the Netherlands and Russia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Spain, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average fertilizer import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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