Slovakia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Slovakia

The Slovak ammonium nitrate market skyrocketed to $X in 2021, picking up by 180% against the previous year. In general, consumption enjoyed measured growth. Ammonium nitrate consumption peaked in 2021 and is expected to retain growth in the near future.

Ammonium Nitrate Production in Slovakia

In value terms, ammonium nitrate production reduced dramatically to $X in 2021 estimated in export price. Overall, production, however, saw a mild descent. The growth pace was the most rapid in 2018 with an increase of 135%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped markedly in the following year.

Ammonium Nitrate Exports

Exports from Slovakia

After two years of growth, overseas shipments of ammonium nitrate decreased by -44.5% to X tons in 2021. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 309%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then declined sharply in the following year.

In value terms, ammonium nitrate exports dropped to $X in 2021. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 363% against the previous year. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Hungary (X tons) was the main destination for ammonium nitrate exports from Slovakia, with a 72% share of total exports. Moreover, ammonium nitrate exports to Hungary exceeded the volume sent to the second major destination, Austria (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Hungary amounted to +56.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+23.7% per year) and Poland (+15.9% per year).

In value terms, Hungary ($X) emerged as the key foreign market for ammonium nitrate exports from Slovakia, comprising 77% of total exports. The second position in the ranking was taken by Austria ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Hungary amounted to +59.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+30.8% per year) and Poland (+16.6% per year).

Export Prices by Country

In 2021, the average ammonium nitrate export price amounted to $X per ton, rising by 61% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Slovakia

After three years of growth, overseas purchases of ammonium nitrate decreased by -79% to X tons in 2021. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 241% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, ammonium nitrate imports shrank dramatically to $X in 2021. Overall, imports saw a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 160%. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

In 2021, Hungary (X tons) constituted the largest ammonium nitrate supplier to Slovakia, accounting for a 51% share of total imports. Moreover, ammonium nitrate imports from Hungary exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. The third position in this ranking was taken by Lithuania (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+42.3% per year) and Lithuania (+53.1% per year).

In value terms, the largest ammonium nitrate suppliers to Slovakia were Hungary ($X), Sweden ($X) and Poland ($X), with a combined 81% share of total imports. Lithuania and the Czech Republic lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, Lithuania, with a CAGR of +54.2%, saw the highest growth rate of 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

In 2021, the average ammonium nitrate import price amounted to $X per ton, jumping by 68% against the previous year. Over the period under review, the import price, however, recorded a perceptible curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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