Scandinavia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Scandinavia

After two years of growth, the Scandinavia NPK fertilizer market decreased by -17.7% to $X in 2022. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Npk Fertilizer Production in Scandinavia

In value terms, NPK fertilizer production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Npk Fertilizer Exports

Exports in Scandinavia

NPK fertilizer exports expanded significantly to X tons in 2022, surging by 8.2% on the previous year. The total export volume increased at an average annual rate of +2.1% over the period 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% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, NPK fertilizer exports skyrocketed to $X in 2022. In general, exports recorded a moderate increase. The pace of growth was the most pronounced in 2021 when exports increased by 67%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Norway represented the main exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Scandinavia, with the volume of exports accounting for X tons, which was approx. 87% of total exports in 2022. It was distantly followed by Finland (X tons), achieving a 13% share of total exports.

Norway was also the fastest-growing in terms of the mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports, with a CAGR of +2.6% from 2012 to 2022. Finland experienced a relatively flat trend pattern. While the share of Norway (+3.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Finland (-3.8 p.p.) displayed negative dynamics.

In value terms, the largest NPK fertilizer supplying countries in Scandinavia were Norway ($X) and Finland ($X).

Finland, with a CAGR of +9.8%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, growing by 28% against the previous year. Export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer export price increased by +82.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 43%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Norway totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+10.4%).

Npk Fertilizer Imports

Imports in Scandinavia

In 2022, after two years of growth, there was significant decline in supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, when their volume decreased by -41.3% to X tons. In general, imports showed a slight decline. The pace of growth appeared the most rapid in 2014 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted significantly in the following year.

In value terms, NPK fertilizer imports contracted to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 67%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Sweden represented the largest importer of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Scandinavia, with the volume of imports reaching X tons, which was approx. 62% of total imports in 2022. It was distantly followed by Finland (X tons), creating a 35% share of total imports. Norway (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Finland (with a CAGR of +6.0%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X) constitutes the largest market for imported mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Scandinavia, comprising 68% of total imports. The second position in the ranking was held by Finland ($X), with a 25% share of total imports.

In Sweden, NPK fertilizer imports increased at an average annual rate of +1.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+6.7% per year) and Norway (-0.3% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of 45% against the previous year. Over the period under review, the import price posted a noticeable expansion. The growth pace was the most rapid in 2021 an increase of 47%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform