Global Npk Fertilizer Market 2024

Npk Fertilizer Market Size

The global NPK fertilizer market reached $X in 2022, with an increase of 5.3% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the market value increased by 7%. Over the period under review, the global market hit record highs in 2022 and is likely to see gradual growth in years to come.

Npk Fertilizer Production

In value terms, NPK fertilizer production rose to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 8.8%. Global production peaked in 2022 and is likely to see steady growth in years to come.

Npk Fertilizer Exports

Exports

In 2022, after five years of growth, there was significant decline in shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, when their volume decreased by -12.7% to X tons. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 17%. Over the period under review, the global exports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, NPK fertilizer exports expanded markedly to $X in 2022. Overall, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 41%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia represented the major exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in the world, with the volume of exports accounting for X tons, which was near 33% of total exports in 2022. It was distantly followed by Norway (X tons), Belgium (X tons) and Belarus (X tons), together constituting a 30% share of total exports. Morocco (X tons), China (X tons), Finland (X tons), the Netherlands (X tons), Poland (X tons), Spain (X tons) and Vietnam (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to NPK fertilizer exports from Russia stood at +2.2%. At the same time, Morocco (+106.6%), China (+30.9%), Spain (+13.3%), Belarus (+13.3%) and Norway (+2.6%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in the world, with a CAGR of +106.6% from 2012-2022. Poland, Vietnam, Finland and Belgium experienced a relatively flat trend pattern. By contrast, the Netherlands (-4.4%) illustrated a downward trend over the same period. Belarus (+4.4 p.p.), Morocco (+4.3 p.p.) and China (+3.4 p.p.) significantly strengthened its position in terms of the global exports, while the Netherlands and Belgium saw its share reduced by -2.2% and -2.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest NPK fertilizer supplying countries worldwide were Russia ($X), Norway ($X) and Finland ($X), together comprising 40% of global exports. Belgium, the Netherlands, Morocco, Belarus, China, Spain, Poland and Vietnam lagged somewhat behind, together accounting for a further 34%.

In terms of the main exporting countries, Morocco, with a CAGR of +94.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2022, surging by 21% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 31% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+10.4%), while the other global leaders experienced more modest paces of growth.

Npk Fertilizer Imports

Imports

In 2022, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -14.5% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 16%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of global imports remained at a lower figure.

In value terms, NPK fertilizer imports surged to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 31% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons), followed by India (X tons) were the main importers of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, together achieving 22% of total imports. China (X tons), Spain (X tons), Thailand (X tons), Romania (X tons), Poland (X tons), Ireland (X tons), Ukraine (X tons), France (X tons), Vietnam (X tons), the UK (X tons) and Germany (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Romania (with a CAGR of +20.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($X), India ($X) and China ($X) were the countries with the highest levels of imports in 2022, together accounting for 27% of global imports. Thailand, Spain, Romania, Poland, Ukraine, Ireland, France, the UK, Germany and Vietnam lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Romania, with a CAGR of +23.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average NPK fertilizer import price stood at $X per ton in 2022, with an increase of 42% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer import price increased by +87.6% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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