Turkey: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Turkey

In 2021, the Turkish ammonium nitrate market increased by 85% to $X, rising for the second year in a row after six years of decline. Overall, consumption, however, recorded a abrupt decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Ammonium Nitrate Production in Turkey

In value terms, ammonium nitrate production surged to $X in 2021 estimated in export price. Overall, production showed a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 26%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Ammonium Nitrate Exports

Exports from Turkey

In 2021, shipments abroad of ammonium nitrate decreased by -48.6% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 822%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, ammonium nitrate exports reduced remarkably to $X in 2021. In general, exports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2017 with an increase of 480% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons), Mozambique (X tons) and Ukraine (X tons) were the main destinations of ammonium nitrate exports from Turkey, together accounting for 59% of total exports. Spain, Romania, Albania, Serbia and Israel lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +108.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ammonium nitrate exported from Turkey were India ($X), Ukraine ($X) and Mozambique ($X), with a combined 58% share of total exports. These countries were followed by Spain, Romania, Serbia, Albania and Israel, which together accounted for a further 32%.

Among the main countries of destination, Romania, with a CAGR of +90.6%, 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

The average ammonium nitrate export price stood at $X per ton in 2021, growing by 55% against the previous year. Over the period under review, the export price, however, showed a mild downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Romania ($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 Israel (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Turkey

In 2021, the amount of ammonium nitrate imported into Turkey reduced dramatically to X tons, falling by -53.1% on the previous year. In general, imports saw a sharp slump. The pace of growth appeared the most rapid in 2020 with an increase of 135% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, ammonium nitrate imports dropped sharply to $X in 2021. Overall, imports recorded a precipitous decline. The growth pace was the most rapid in 2020 with an increase of 109% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Georgia (X tons), Sweden (X tons) and Russia (X tons) were the main suppliers of ammonium nitrate imports to Turkey, together accounting for 84% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of -2.2%), while imports for the other leaders experienced a decline.

In value terms, Georgia ($X) constituted the largest supplier of ammonium nitrate to Turkey, comprising 50% of total imports. The second position in the ranking was taken by Sweden ($X), with a 22% share of total imports. It was followed by Russia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Georgia stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-8.6% per year) and Russia (-34.5% per year).

Import Prices by Country

In 2021, the average ammonium nitrate import price amounted to $X per ton, surging by 28% against the previous year. Over the period under review, the import price saw a slight expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by 34% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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