U.S.: Nitrogen Market 2024

Nitrogen Market Size in the U.S.

The U.S. nitrogen market reduced slightly to $X in 2021, dropping by -2.1% against the previous year. In general, consumption, however, posted a resilient expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Nitrogen Production in the U.S.

In value terms, nitrogen production shrank slightly to $X in 2021. In general, production, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 41% against the previous year. Nitrogen production peaked at $X in 2018; afterwards, it flattened through to 2021.

Nitrogen Exports

Exports from the U.S.

In 2021, shipments abroad of nitrogen was finally on the rise to reach X cubic meters for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 75%. 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 soared to $X in 2021. Overall, exports, however, recorded a slight contraction. The pace of growth was the most pronounced in 2014 with an increase of 61% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X cubic meters) was the main destination for nitrogen exports from the United States, with a 56% share of total exports. Moreover, nitrogen exports to Canada exceeded the volume sent to the second major destination, Mexico (X cubic meters), fourfold. The Netherlands (X cubic meters) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada totaled +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-0.1% per year) and the Netherlands (+75.2% per year).

In value terms, the largest markets for nitrogen exported from the United States were Canada ($X), Mexico ($X) and the Netherlands ($X), together comprising 70% of total exports.

The Netherlands, with a CAGR of +51.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, with an increase of 12% against the previous year. Over the period under review, the export price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 24%. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per cubic meter), while the average price for exports to Canada ($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 Mexico (-1.7%), while the prices for the other major destinations experienced a decline.

Nitrogen Imports

Imports into the U.S.

For the third year in a row, the United States recorded growth in overseas purchases of nitrogen, which increased by 28% to X cubic meters in 2021. Overall, imports posted a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 114%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, nitrogen imports soared to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +1.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 100% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Canada (X cubic meters), Japan (X cubic meters) and Hungary (X cubic meters) were the main suppliers of nitrogen imports to the United States, together comprising 88% of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of nitrogen to the United States, comprising 68% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by Germany, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value from Canada amounted to +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.5% per year) and Germany (-3.0% per year).

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, which is down by -8.6% against the previous year. Overall, the import price saw a deep slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 5.3% against the previous year. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per cubic meter), while the price for Hungary (less than $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 Germany (-6.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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