Sweden: Nitrogen Market 2024

Nitrogen Market Size in Sweden

In 2021, after three years of growth, there was significant decline in the Swedish nitrogen market, when its value decreased by -6.2% to $X. Overall, consumption, however, recorded prominent growth. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Nitrogen Production in Sweden

In value terms, nitrogen production shrank to $X in 2021 estimated in export price. Overall, production, however, saw prominent growth. The growth pace was the most rapid in 2014 when the production volume increased by 65%. Nitrogen production peaked at $X in 2020, and then declined in the following year.

Nitrogen Exports

Exports from Sweden

In 2021, after two years of growth, there was significant decline in overseas shipments of nitrogen, when their volume decreased by -39.3% to X cubic meters. Overall, exports, however, posted a noticeable increase. The growth pace was the most rapid in 2015 when exports increased by 105% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, nitrogen exports declined remarkably to $X in 2021. Over the period under review, exports, however, posted tangible growth. The pace of growth was the most pronounced in 2016 with an increase of 64%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X cubic meters), Norway (X cubic meters) and Finland (X cubic meters) were the main destinations of nitrogen exports from Sweden, with a combined 95% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +87.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Norway ($X) and Finland ($X) constituted the largest markets for nitrogen exported from Sweden worldwide, together accounting for 93% of total exports. Germany lagged somewhat behind, comprising a further 2.9%.

In terms of the main countries of destination, Germany, with a CAGR of +55.2%, saw 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

In 2021, the average nitrogen export price amounted to $X per cubic meter, jumping by 20% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Finland ($X per cubic meter) and Norway ($X per cubic meter), while the average price for exports to Denmark ($X per cubic meter) and Germany ($X per cubic meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+0.1%), while the prices for the other major destinations experienced a decline.

Nitrogen Imports

Imports into Sweden

In 2021, purchases abroad of nitrogen was finally on the rise to reach X cubic meters after two years of decline. Over the period under review, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 208% against the previous year. Imports peaked at X cubic meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, nitrogen imports contracted notably to $X in 2021. In general, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 108% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Finland (X cubic meters) constituted the largest supplier of nitrogen to Sweden, accounting for a 50% share of total imports. Moreover, nitrogen imports from Finland exceeded the figures recorded by the second-largest supplier, Norway (X cubic meters), threefold. The third position in this ranking was held by Denmark (X cubic meters), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Finland stood at +35.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-13.9% per year) and Denmark (-21.8% per year).

In value terms, the United States ($X), Denmark ($X) and Finland ($X) appeared to be the largest nitrogen suppliers to Sweden, together accounting for 61% of total imports. Norway, Austria, Switzerland and France lagged somewhat behind, together accounting for a further 26%.

Austria, with a CAGR of +117.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 nitrogen import price amounted to $X per cubic meter, waning by -38% against the previous year. Over the period under review, the import price, however, continues to indicate a measured expansion. The pace of growth appeared the most rapid in 2016 an increase of 59%. Over the period under review, average import prices attained the maximum at $X per cubic meter in 2020, and then fell sharply in the following year.

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 the United States ($X per cubic meter), while the price for Finland ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+38.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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