United Kingdom: Nitrogen Market 2024

Nitrogen Market Size in the UK

The UK nitrogen market stood at $X in 2021, picking up by 2.4% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Nitrogen Production in the UK

In value terms, nitrogen production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 47%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Nitrogen Exports

Exports from the UK

In 2021, approx. X cubic meters of nitrogen were exported from the UK; which is down by -45.2% against 2020 figures. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 380%. Over the period under review, the exports attained the peak figure at X cubic meters in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrogen exports soared to $X in 2021. Over the period under review, exports saw a pronounced decrease. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X cubic meters) was the main destination for nitrogen exports from the UK, accounting for a 42% share of total exports. Moreover, nitrogen exports to Ireland exceeded the volume sent to the second major destination, Germany (X cubic meters), twofold. The third position in this ranking was taken by Poland (X cubic meters), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ireland totaled +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+17.9% per year) and Poland (+10.2% per year).

In value terms, the largest markets for nitrogen exported from the UK were Ireland ($X), France ($X) and Germany ($X), with a combined 55% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +26.5%, recorded the highest rates of growth with regard to 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

In 2021, the average nitrogen export price amounted to $X per cubic meter, rising by 141% against the previous year. Overall, the export price enjoyed a measured expansion. The export price peaked at $X per cubic meter in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per cubic meter), while the average price for exports to Poland (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 recorded for supplies to Spain (+40.0%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogen Imports

Imports into the UK

In 2021, after two years of decline, there was significant growth in supplies from abroad of nitrogen, when their volume increased by 68% to X cubic meters. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 2,377% against the previous year. Imports peaked at X cubic meters in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, nitrogen imports soared to $X in 2021. In general, imports, however, saw a slight decline. The pace of growth appeared the most rapid in 2015 when imports increased by 90% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X cubic meters), Ireland (X cubic meters) and Germany (X cubic meters) were the main suppliers of nitrogen imports to the UK, together accounting for 90% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +76.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X) constituted the largest supplier of nitrogen to the UK, comprising 79% of total imports. The second position in the ranking was held by Germany ($X), with a 9.5% share of total imports. It was followed by France, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ireland amounted to -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.6% per year) and France (+33.9% per year).

Import Prices by Country

The average nitrogen import price stood at $X per cubic meter in 2021, with a decrease of -11.7% against the previous year. Overall, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 991%. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per cubic meter), while the price for France ($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 Belgium (-6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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