Scandinavia: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Scandinavia

The Scandinavia potassium nitrate market declined remarkably to $X in 2023, reducing by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Potassium Nitrate Production in Scandinavia

In value terms, potassium nitrate production contracted slightly to $X in 2023 estimated in export price. Over the period under review, production showed slight growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

Potassium Nitrate Exports

Exports in Scandinavia

In 2023, exports of potassium nitrates in Scandinavia skyrocketed to X tons, growing by X% compared with the previous year. Overall, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, potassium nitrate exports shrank significantly to $X in 2023. In general, exports, however, saw a pronounced decline. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Norway represented the key exporter of potassium nitrates in Scandinavia, with the volume of exports reaching X tons, which was near X% of total exports in 2023. Finland (X tons) held the second position in the ranking, distantly followed by Sweden (X tons). All these countries together held near X% share of total exports.

Exports from Norway decreased at an average annual rate of X% from 2012 to 2023. At the same time, Finland (X%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of X% from 2012-2023. By contrast, Sweden (X%) illustrated a downward trend over the same period. While the share of Finland (X p.p.) and Norway (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Sweden (X p.p.) displayed negative dynamics.

In value terms, the largest potassium nitrate supplying countries in Scandinavia were Norway ($X), Finland ($X) and Sweden ($X).

Finland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price, however, saw a strong increase. The growth pace was the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined remarkably in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced mixed trends in the export price figures.

Potassium Nitrate Imports

Imports in Scandinavia

In 2023, purchases abroad of potassium nitrates decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a noticeable descent. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, potassium nitrate imports contracted notably to $X in 2023. Overall, imports continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then dropped markedly in the following year.

Imports by Country

In 2023, Finland (X tons) was the largest importer of potassium nitrates, committing X% of total imports. It was distantly followed by Sweden (X tons) and Norway (X tons), together generating a X% share of total imports.

Finland experienced a relatively flat trend pattern with regard to volume of imports of potassium nitrates. Norway (X%) and Sweden (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Finland increased by X percentage points.

In value terms, Finland ($X) constitutes the largest market for imported potassium nitrates in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Sweden ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Finland amounted to X%. In the other countries, the average annual rates were as follows: Sweden (X% per year) and Norway (X% per year).

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per ton, dropping by X% against the previous year. Import price indicated a mild expansion from 2012 to 2023: its price 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, potassium nitrate import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform