Spain: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Spain

The Spanish ammonium nitrate market skyrocketed to $X in 2021, rising by 20% against the previous year. In general, consumption, however, continues to indicate a noticeable slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ammonium Nitrate Production in Spain

In value terms, ammonium nitrate production contracted to $X in 2021 estimated in export price. In general, production, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the production volume increased by 15%. Ammonium nitrate production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ammonium Nitrate Exports

Exports from Spain

In 2021, shipments abroad of ammonium nitrate increased by 98% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, ammonium nitrate exports skyrocketed to $X in 2021. Over the period under review, exports recorded a modest increase. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Ghana (X tons) and Portugal (X tons) were the main destinations of ammonium nitrate exports from Spain, with a combined 56% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +162.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Ghana ($X) and Belgium ($X) constituted the largest markets for ammonium nitrate exported from Spain worldwide, with a combined 56% share of total exports.

In terms of the main countries of destination, Ghana, with a CAGR of +159.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ammonium nitrate export price stood at $X per ton in 2021, surging by 17% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 25%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Portugal ($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 Peru (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Spain

In 2021, the amount of ammonium nitrate imported into Spain skyrocketed to X tons, jumping by 58% against the previous year's figure. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 102% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, ammonium nitrate imports soared to $X in 2021. Over the period under review, imports, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 74% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest ammonium nitrate supplier to Spain, with a 52% share of total imports. Moreover, ammonium nitrate imports from the UK exceeded the figures recorded by the second-largest supplier, Georgia (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Georgia (+30.0% per year) and Turkey (+942.8% per year).

In value terms, the largest ammonium nitrate suppliers to Spain were the UK ($X), Turkey ($X) and Georgia ($X), with a combined 92% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +575.1%, 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 ammonium nitrate import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price, however, recorded a mild downturn. The growth pace was the most rapid in 2020 an increase of 70% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Turkey ($X per ton) and France ($X per ton), while the price for the UK ($X per ton) and Georgia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+49.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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