Eastern Europe: Nitrogen Market 2024

Nitrogen Market Size in Eastern Europe

In 2023, the East European nitrogen market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Nitrogen Production in Eastern Europe

In value terms, nitrogen production shrank modestly to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Nitrogen Exports

Exports in Eastern Europe

For the third year in a row, Eastern Europe recorded growth in overseas shipments of nitrogen, which increased by X% to X cubic meters in 2023. Total exports indicated strong growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitrogen exports soared to $X in 2023. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports attained the peak figure in 2023 and are likely to see steady growth in years to come.

Exports by Country

The Czech Republic represented the largest exporting country with an export of about X cubic meters, which reached X% of total exports. Poland (X cubic meters) ranks second in terms of the total exports with a X% share, followed by Russia (X%). The following exporters - Estonia (X cubic meters), Latvia (X cubic meters), Hungary (X cubic meters) and Bulgaria (X cubic meters) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to nitrogen exports from the Czech Republic stood at X%. At the same time, Estonia (X%), Russia (X%) and Hungary (X%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. Bulgaria experienced a relatively flat trend pattern. By contrast, Poland (X%) and Latvia (X%) illustrated a downward trend over the same period. The Czech Republic (X p.p.), Russia (X p.p.) and Estonia (X p.p.) significantly strengthened its position in terms of the total exports, while Bulgaria, Latvia and Poland saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) remains the largest nitrogen supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the Czech Republic totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (X% per year) and Russia (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per cubic meter, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Czech Republic ($X per cubic meter), while Latvia ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the other leaders experienced more modest paces of growth.

Nitrogen Imports

Imports in Eastern Europe

Nitrogen imports soared to X cubic meters in 2023, growing by X% against the previous year. Total imports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, nitrogen imports surged to $X in 2023. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in the near future.

Imports by Country

Slovakia represented the largest importing country with an import of about X cubic meters, which amounted to X% of total imports. It was distantly followed by the Czech Republic (X cubic meters), Bulgaria (X cubic meters), Hungary (X cubic meters), Estonia (X cubic meters), Poland (X cubic meters) and Lithuania (X cubic meters), together mixing up a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to nitrogen imports into Slovakia stood at X%. At the same time, Poland (X%), Hungary (X%), Bulgaria (X%), Estonia (X%) and Lithuania (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. The Czech Republic experienced a relatively flat trend pattern. While the share of Slovakia (X p.p.), Poland (X p.p.), Hungary (X p.p.) and Bulgaria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Lithuania (X p.p.) and the Czech Republic (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Slovakia ($X) constitutes the largest market for imported nitrogen in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total imports. It was followed by Hungary, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Slovakia stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Hungary (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per cubic meter, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per cubic meter), while the Czech Republic (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform