Turkey: Nitrogen Market 2024

Nitrogen Market Size in Turkey

The Turkish nitrogen market expanded markedly to $X in 2021, picking up by 8% against the previous year. In general, consumption continues to indicate resilient growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Nitrogen Production in Turkey

In value terms, nitrogen production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 70%. Nitrogen production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Nitrogen Exports

Exports from Turkey

After three years of growth, shipments abroad of nitrogen decreased by -50.3% to X cubic meters in 2021. Overall, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2020 when exports increased by 217% against the previous year. As a result, the exports reached the peak of X cubic meters, and then dropped rapidly in the following year.

In value terms, nitrogen exports shrank sharply to $X in 2021. Over the period under review, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 216% against the previous year. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

Iraq (X cubic meters), Greece (X cubic meters) and Lebanon (X cubic meters) were the main destinations of nitrogen exports from Turkey, together comprising 84% of total exports.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +1,363.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nitrogen exported from Turkey were Greece ($X), Iraq ($X) and Lebanon ($X), with a combined 80% share of total exports.

In terms of the main countries of destination, Greece, with a CAGR of +1,366.4%, recorded 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 nitrogen export price stood at $X per cubic meter in 2021, with a decrease of -4.6% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in 2018 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 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 Georgia ($X per cubic meter), while the average price for exports to Iraq ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogen Imports

Imports into Turkey

In 2021, the amount of nitrogen imported into Turkey skyrocketed to X cubic meters, increasing by 464% on 2020 figures. Over the period under review, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitrogen imports surged to $X in 2021. Overall, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Czech Republic (X cubic meters) constituted the largest supplier of nitrogen to Turkey, with a 62% share of total imports. Moreover, nitrogen imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Georgia (X cubic meters), fourfold. Germany (X cubic meters) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Czech Republic stood at +42.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Georgia (0.0% per year) and Germany (+80.6% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of nitrogen to Turkey, comprising 73% of total imports. The second position in the ranking was held by the United States ($X), with a 9.5% share of total imports. It was followed by Germany, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Czech Republic totaled +43.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.9% per year) and Germany (+64.3% per year).

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, declining by -28.1% against the previous year. Over the period under review, the import price saw a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when the average import price increased by 64% against the previous year. The import price peaked at $X per cubic meter in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per cubic meter), while the price for Georgia ($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 China (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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