Norway: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Norway

For the fourth consecutive year, the Norwegian NPK fertilizer market recorded decline in sales value, which decreased by -33.1% to $X in 2022. Over the period under review, consumption showed a deep contraction. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Npk Fertilizer Production in Norway

In value terms, NPK fertilizer production fell to $X in 2022 estimated in export price. In general, production saw a slight reduction. The growth pace was the most rapid in 2018 with an increase of 5.5%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Npk Fertilizer Exports

Exports from Norway

In 2022, approx. X tons of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were exported from Norway; reducing by -6.1% against 2021. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 28%. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, NPK fertilizer exports dropped sharply to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 68%. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Brazil (X tons) was the main destination for NPK fertilizer exports from Norway, accounting for a 24% share of total exports. Moreover, NPK fertilizer exports to Brazil exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil amounted to +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-1.9% per year) and the UK (-2.9% per year).

In value terms, Brazil ($X) emerged as the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Norway, comprising 23% of total exports. The second position in the ranking was taken by China ($X), with an 8.8% share of total exports. It was followed by the UK, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value to Brazil totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-6.4% per year) and the UK (-3.6% per year).

Export Prices by Country

In 2022, the average NPK fertilizer export price amounted to $X per ton, which is down by -15% against the previous year. In general, the export price showed a mild shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 43% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Guatemala ($X per ton) and the United States ($X per ton), while the average price for exports to the UK ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+0.6%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Norway

After three years of growth, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -83.7% to X tons in 2022. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, NPK fertilizer imports shrank sharply to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 87%. As a result, imports attained the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest NPK fertilizer supplier to Norway, accounting for a 39% share of total imports. Moreover, NPK fertilizer imports from Russia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Latvia (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to -14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.3% per year) and Latvia (-12.2% per year).

In value terms, the largest NPK fertilizer suppliers to Norway were the Netherlands ($X), Russia ($X) and Spain ($X), together comprising 59% of total imports.

Spain, with a CAGR of +299.6%, saw the highest rates of growth with regard to the value of imports, among 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 NPK fertilizer import price stood at $X per ton in 2022, surging by 139% against the previous year. Overall, the import price showed a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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