United Kingdom: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in the UK

The UK potassium nitrate market rose sharply to $X in 2022, picking up by 5.6% against the previous year. In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.1% against 2019 indices. Potassium nitrate consumption peaked in 2022 and is likely to see gradual growth in the near future.

Potassium Nitrate Production in the UK

In value terms, potassium nitrate production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate buoyant growth. The growth pace was the most rapid in 2014 with an increase of 30% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Potassium Nitrate Exports

Exports from the UK

In 2022, the amount of potassium nitrates exported from the UK dropped notably to X tons, declining by -30.9% compared with 2021 figures. Overall, exports, however, recorded mild growth. The growth pace was the most rapid in 2021 when exports increased by 644%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium nitrate exports expanded markedly to $X in 2022. In general, exports, however, recorded a moderate increase. The growth pace was the most rapid in 2021 when exports increased by 703% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for potassium nitrate exports from the UK, accounting for a 69% share of total exports. Moreover, potassium nitrate exports to Ireland exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Ireland totaled +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+28.2% per year) and Italy (+114.3% per year).

In value terms, Italy ($X) emerged as the key foreign market for potassium nitrates exports from the UK, comprising 50% of total exports. The second position in the ranking was held by Ireland ($X), with a 24% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to +114.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+9.3% per year) and Germany (+11.6% per year).

Export Prices by Country

In 2022, the average potassium nitrate export price amounted to $X per ton, growing by 55% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Potassium Nitrate Imports

Imports into the UK

In 2022, approx. X tons of potassium nitrates were imported into the UK; waning by -25% on 2021 figures. Over the period under review, imports recorded a deep slump. The pace of growth appeared the most rapid in 2015 when imports increased by 22% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. Overall, imports continue to indicate a deep setback. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Chile (X tons), Jordan (X tons) and Denmark (X tons) were the main suppliers of potassium nitrate imports to the UK, with a combined 82% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +165.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of potassium nitrates to the UK, comprising 51% of total imports. The second position in the ranking was taken by Jordan ($X), with a 16% share of total imports. It was followed by Denmark, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from Chile totaled +241.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (-3.8% per year) and Denmark (+177.4% per year).

Import Prices by Country

The average potassium nitrate import price stood at $X per ton in 2022, growing by 102% against the previous year. Overall, the import price enjoyed a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+67.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :