Overview of the Global Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

The global market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution soared to $X in 2022, growing by 33% against the previous year. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 11%. Global production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports

In 2022, the amount of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exported worldwide declined to X tons, with a decrease of -5.3% against 2021 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. The global exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution expanded significantly to $X in 2022. Overall, total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 +119.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. Over the period under review, the global exports of attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the three major exporters of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution, namely Russia, Trinidad and Tobago and the United States, represented more than half of total export. It was distantly followed by the Netherlands (X tons), Belarus (X tons), Belgium (X tons) and Canada (X tons), together mixing up a 29% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +23.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Russia ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 43% share of global exports.

Belgium, with a CAGR of +12.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution stood at $X per ton in 2022, jumping by 15% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 76% against the previous year. The global export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.5%), while the other global leaders experienced mixed trends in the export price figures.

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports

In 2022, the amount of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution imported worldwide soared to X tons, rising by 59% on the previous year. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +70.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution skyrocketed to $X in 2022. Overall, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons) and Argentina (X tons) represented the main importers of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in 2022, accounting for approx. 25% and 24% of total imports, respectively. The United States (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Belgium (4.9%) and Canada (4.6%). The UK (X tons), Australia (X tons), Germany (X tons), Spain (X tons), Uruguay (X tons) and the Czech Republic (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uruguay (with a CAGR of +66.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, together accounting for 55% of global imports. These countries were followed by Belgium, the UK, Australia, Canada, Germany, Spain, the Czech Republic and Uruguay, which together accounted for a further 32%.

Uruguay, with a CAGR of +55.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution amounted to $X per ton, with an increase of 22% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 66% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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