Sweden: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Sweden

In 2022, the Swedish NPK fertilizer market decreased by -7.9% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Npk Fertilizer Exports

Exports from Sweden

After two years of growth, shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -49.6% to X tons in 2022. In general, exports recorded a perceptible setback. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced rapidly in the following year.

In value terms, NPK fertilizer exports declined to $X in 2022. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 42% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Norway (X tons), Denmark (X tons) and Finland (X tons) were the main destinations of NPK fertilizer exports from Sweden, together comprising 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +6.2%), while the other leaders experienced mixed trend patterns.

In value terms, Norway ($X) remains the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Sweden, comprising 65% of total exports. The second position in the ranking was held by Denmark ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Norway stood at +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+3.0% per year) and Finland (+1.3% per year).

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, surging by 73% against the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% 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 +84.8% against 2020 indices. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Denmark ($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 (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Npk Fertilizer Imports

Imports into Sweden

NPK fertilizer imports into Sweden plummeted to X tons in 2022, falling by -34.9% on 2021 figures. Over the period under review, imports recorded a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 45%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, NPK fertilizer imports reached $X in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +63.7% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 46% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Finland (X tons) constituted the largest supplier of NPK fertilizer to Sweden, accounting for a 65% share of total imports. Moreover, NPK fertilizer imports from Finland exceeded the figures recorded by the second-largest supplier, Norway (X tons), threefold. The third position in this ranking was held by Latvia (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from Finland stood at -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+223.5% per year) and Latvia (+13.1% per year).

In value terms, Finland ($X) constituted the largest supplier of mixed nitrogen, phosphorus and potassium (NPK) fertilizers to Sweden, comprising 66% of total imports. The second position in the ranking was taken by Norway ($X), with a 23% share of total imports. It was followed by Latvia, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from Finland stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+240.1% per year) and Latvia (+16.4% per year).

Import Prices by Country

In 2022, the average NPK fertilizer import price amounted to $X per ton, surging by 57% against the previous year. In general, the import price enjoyed strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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