Benelux: Nitrogenous Fertilizer Market 2023

Nitrogenous Fertilizer Market Size in Benelux

In 2022, the Benelux nitrogenous fertilizer market increased by 30% to $X, rising for the second year in a row after two years of decline. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +55.1% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the near future.

Nitrogenous Fertilizer Production in Benelux

In value terms, nitrogenous fertilizer production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports in Benelux

In 2022, overseas shipments of nitrogenous fertilizers (mineral or chemical) decreased by -5.4% to X tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +1.6% 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 19%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, nitrogenous fertilizer exports skyrocketed to $X in 2022. In general, exports, however, posted a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the Netherlands (X tons) and Belgium (X tons), together recording 99% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Belgium (with a CAGR of +15.0%).

In value terms, the largest nitrogenous fertilizer supplying countries in Benelux were the Netherlands ($X) and Belgium ($X).

Belgium, with a CAGR of +7.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, rising by 91% against the previous year. Overall, the export price posted moderate growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.8%).

Nitrogenous Fertilizer Imports

Imports in Benelux

Nitrogenous fertilizer imports skyrocketed to X tons in 2022, growing by 16% on 2021. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 67% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, nitrogenous fertilizer imports soared to $X in 2022. Overall, imports enjoyed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium represented the largest importing country with an import of around X tons, which finished at 70% of total imports. It was distantly followed by the Netherlands (X tons) and Luxembourg (X tons), together generating a 30% share of total imports.

Belgium was also the fastest-growing in terms of the nitrogenous fertilizers (mineral or chemical) imports, with a CAGR of +18.0% from 2012 to 2022. At the same time, Luxembourg (+4.0%) and the Netherlands (+2.4%) displayed positive paces of growth. Belgium (+33 p.p.) significantly strengthened its position in terms of the total imports, while Luxembourg and the Netherlands saw its share reduced by -6.5% and -26.5% from 2012 to 2022, respectively.

In value terms, Belgium ($X) constitutes the largest market for imported nitrogenous fertilizers (mineral or chemical) in Benelux, comprising 70% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Belgium stood at +12.5%. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+8.7% per year) and Luxembourg (+5.1% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, surging by 87% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached 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 the Netherlands ($X per ton), while Luxembourg ($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 (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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