Global NPK Fertilizer Trade Surpasses $7.5B with Rising Exports from Russia and Norway

IndexBox has just published a new report: 'World - NPK Fertilizers - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The global NPK fertilizer market value rose to $42.2B in 2021, with an increase of 2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% from 2007 to 2021. 

In 2021, after five years of growth, there was decline in consumption of NPK fertilizers, when its volume decreased by -0.4% to 99M tons. Over the period under review, the total consumption indicated slight growth from 2007 to 2021: its volume increased at an average annual rate of +1.4% over the last fourteen-year period. 

China, the U.S., India and Russia account for approximately 45% of global NPK fertilizer consumption. From 2007 to 2021, the average annual rate of growth in terms of volume in China totaled +2.8%. In the other countries, the average annual rates were as follows: the United States (-4.6% per year), India (+18.3% per year), Russia (-1.4% per year).

NPK Fertilizer Production 

In 2021, after two years of decline, there was growth in production of NPK fertilizers, when its volume increased by 0.3% to 99M tons. The total output volume increased at an average annual rate of +1.3% over the period from 2007 to 2021.

The four countries, namely China, Russia, the U.S., and India shape more than 50% of global NPK fertilizer production. From 2007 to 2021, the average annual growth rate of volume in China totaled +3.0%. The remaining producing countries recorded the following average annual rates of production growth: Russia (+1.5% per year), the United States (-4.5% per year), India (+16.6% per year).

In value terms, production rose slightly to $37.9B in 2021 estimated in export prices. The total output value increased at an average annual rate of +1.7% from 2007 to 2021.

NPK Fertilizer Exports

In 2021, overseas shipments of NPK fertilizers were finally on the rise to reach 19M tons after three years of decline. Overall, total exports indicated a temperate increase from 2007 to 2021: its volume increased at an average annual rate of +3.0% over the last fourteen-year period.

In value terms, NPK fertilizer exports soared to $7.5B in 2021. In general, total exports indicated measured growth from 2007 to 2021: its value increased at an average annual rate of +3.0% over the last fourteen-year period.

Exports by Country

Russia was the largest exporter of NPK fertilizers in the world, with the volume of supplies finishing at 5.9M tons, which was near 32% of total exports in 2021. It was distantly followed by Norway (2.1M tons), Belgium (1.2M tons), China (1.1M tons) and Belarus (1M tons), together generating a 29% share of total exports. Morocco (757K tons), Poland (651K tons), the Netherlands (527K tons), Lithuania (456K tons), Spain (426K tons), the United States (299K tons) and Germany (292K tons) followed a long way behind the leaders.

In value terms, Russia ($2B) remains the largest NPK fertilizer supplier worldwide, comprising 27% of global exports. The second position in the ranking was taken by Norway ($777M), with a 10% share of total supplies. It was followed by Belgium, with a 7.4% share.

In Russia, NPK fertilizer exports expanded at an average annual rate of +8.4% over the period from 2007-2021. In the other countries, the average annual rates were as follows: Norway (+2.4% per year) and Belgium (+0.8% per year).

Export Prices by Country

In 2021, the average NPK fertilizer export price amounted to $403 per ton, growing by 22% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($809 per ton), while Morocco ($270 per ton) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other global leaders experienced more modest paces of growth.

NPK Fertilizer Imports

After two years of growth, overseas purchases of NPK fertilizers decreased by -0.9% to 19M tons in 2021. In general, total imports indicated tangible growth from 2007 to 2021: its volume increased at an average annual rate of +3.3% over the last fourteen years.

In value terms, NPK fertilizer imports skyrocketed to $8.3B in 2021. In general, total imports indicated buoyant growth from 2007 to 2021: its value increased at an average annual rate of +3.3% over the last fourteen-year period.

Imports by Country

The countries with the highest levels of NPK fertilizer imports in 2021 were China (1,398K tons), Brazil (1,364K tons), India (1,062K tons), Ukraine (1,060K tons), Poland (790K tons), Spain (785K tons), Lithuania (690K tons), Thailand (665K tons), Myanmar (463K tons), France (450K tons), the UK (381K tons) and Romania (366K tons), together accounting for 49% of total purchases. Paraguay (357K tons) occupied a relatively small share of total imports.

In value terms, China ($641M), India ($533M) and Ukraine ($493M) appeared to be the countries with the highest levels of imports in 2021, together accounting for 20% of global imports.

In terms of the main importing countries, India saw 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 $433 per ton in 2021, with an increase of 20% against the previous year. There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($501 per ton), while Myanmar ($283 per ton) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform