Spain: Nitrates Market 2025

Nitrates Market Size in Spain

In 2021, the Spanish nitrates market increased by 24% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption posted a remarkable increase. Nitrates consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Nitrates Production in Spain

In value terms, nitrates production amounted to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 51% against the previous year. Nitrates production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Nitrates Exports

Exports from Spain

In 2021, the amount of nitrates (excluding those of potassium) exported from Spain skyrocketed to X tons, increasing by 17% compared with the year before. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 49%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, nitrates exports soared to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 39%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Morocco (X tons) was the main destination for nitrates exports from Spain, with a 33% share of total exports. Moreover, nitrates exports to Morocco exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Japan (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Morocco was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+95.9% per year) and Japan (-10.7% per year).

In value terms, Morocco ($X), Japan ($X) and France ($X) appeared to be the largest markets for nitrates exported from Spain worldwide, with a combined 42% share of total exports.

France, with a CAGR of +73.8%, recorded the highest rates of growth with regard to the value of exports, among 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 nitrates export price stood at $X per ton in 2021, picking up by 1.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 38% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mauritania ($X per ton), while the average price for exports to Morocco ($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 Taiwan (Chinese) (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrates Imports

Imports into Spain

In 2021, the amount of nitrates (excluding those of potassium) imported into Spain surged to X tons, increasing by 85% on the previous year's figure. Overall, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitrates imports skyrocketed to $X in 2021. In general, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest nitrates supplier to Spain, with a 68% share of total imports. Moreover, nitrates imports from China exceeded the figures recorded by the second-largest supplier, Norway (X tons), fourfold. The third position in this ranking was held by Poland (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +37.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+81.8% per year) and Poland (+5.0% per year).

In value terms, China ($X) constituted the largest supplier of nitrates (excluding those of potassium) to Spain, comprising 50% of total imports. The second position in the ranking was held by France ($X), with a 22% share of total imports. It was followed by Poland, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.8% per year) and Poland (+2.7% per year).

Import Prices by Country

The average nitrates import price stood at $X per ton in 2021, dropping by -3.8% against the previous year. In general, the import price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when the average import price increased by 25%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

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 France ($X per ton), while the price for Norway ($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 (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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