Spain: Fertilizer Market 2024

Fertilizer Market Size in Spain

For the sixth year in a row, the Spanish fertilizer market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Fertilizer consumption peaked in 2022 and is expected to retain growth in the immediate term.

Fertilizer Production in Spain

In value terms, fertilizer production surged to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible 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, production increased by X% against 2020 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Fertilizer Exports

Exports from Spain

For the third year in a row, Spain recorded growth in shipments abroad of fertilizers, which increased by X% to X tons in 2022. Over the period under review, total exports indicated strong 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 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer exports surged to $X in 2022. Overall, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X tons), France (X tons) and Portugal (X tons) were the main destinations of fertilizer exports from Spain, with a combined X% share of total exports. The UK, Ireland, Denmark, the Netherlands, Italy, Norway, Mexico, Morocco and Ghana lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for fertilizer exported from Spain were France ($X), Brazil ($X) and Portugal ($X), together comprising X% of total exports. The UK, Ireland, Norway, Denmark, Morocco, Mexico, the Netherlands, Italy and Ghana lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price recorded modest growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Brazil ($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 Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Spain

In 2022, overseas purchases of fertilizers increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, fertilizer imports skyrocketed to $X in 2022. Over the period under review, total imports indicated strong growth 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Belgium (X tons), Portugal (X tons) and the Netherlands (X tons) were the main suppliers of fertilizer imports to Spain, together accounting for X% of total imports. Egypt, Norway, Germany, Israel, Russia, Trinidad and Tobago, Morocco, France, Algeria and Chile lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Algeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fertilizer suppliers to Spain were Belgium ($X), Egypt ($X) and Portugal ($X), together accounting for X% of total imports. Morocco, Russia, Norway, Algeria, Israel, Chile, the Netherlands, Germany, France and Trinidad and Tobago lagged somewhat behind, together comprising a further X%.

Algeria, with a CAGR of X%, recorded the highest growth rate of 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 fertilizer import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price 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, fertilizer import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 Morocco ($X per ton), while the price for Trinidad and Tobago ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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