Turkey: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2024

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in Turkey

The Turkish market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution skyrocketed to $X in 2022, picking up by 357% against the previous year. Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in Turkey

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution totaled $X in 2022 estimated in export price. In general, production saw a mild curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by 17%. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports from Turkey

In 2022, the amount of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exported from Turkey soared to X tons, with an increase of 878% compared with 2021. Overall, exports posted a significant increase. The growth pace was the most rapid in 2021 with an increase of 5,968% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution surged to $X in 2022. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 2,043%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons) and Bulgaria (X tons) were the main destinations of exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution from Turkey.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of +381.9%).

In value terms, Bulgaria ($X) and Romania ($X) constituted the largest markets for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exported from Turkey worldwide.

Bulgaria, with a CAGR of +836.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution stood at $X per ton in 2022, with an increase of 68% against the previous year. Over the period under review, the export price, however, faced a deep slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Romania stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+94.1%).

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports into Turkey

For the fourth consecutive year, Turkey recorded growth in supplies from abroad of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution, which increased by 461% to X tons in 2022. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 657%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution surged to $X in 2022. In general, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkmenistan (X tons) was the main supplier of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution to Turkey, accounting for a 99% share of total imports. It was followed by Italy (X tons), with a 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Turkmenistan stood at +2,356.3%.

In value terms, Turkmenistan ($X) constituted the largest supplier of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution to Turkey, comprising 99% of total imports. The second position in the ranking was held by Italy ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkmenistan amounted to +1,753.1%.

Import Prices by Country

The average import price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution stood at $X per ton in 2022, growing by 52% against the previous year. Overall, the import price, however, faced a abrupt downturn. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Italy ($X per ton), while the price for Turkmenistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+60.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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