India: Nitrogen Market 2024

Nitrogen Market Size in India

The Indian nitrogen market stood at $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Nitrogen Production in India

In value terms, nitrogen production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Nitrogen production peaked at $X in 2019; afterwards, it flattened through to 2022.

Nitrogen Exports

Exports from India

In 2022, nitrogen exports from India fell sharply to X cubic meters, declining by X% against the previous year. Overall, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at X cubic meters in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, nitrogen exports contracted dramatically to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X cubic meters) was the main destination for nitrogen exports from India, with a X% share of total exports. Moreover, nitrogen exports to Bangladesh exceeded the volume sent to the second major destination, Nepal (X cubic meters), fourfold. Kenya (X cubic meters) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and Kenya (X% per year).

In value terms, the UK ($X), Nepal ($X) and Bangladesh ($X) constituted the largest markets for nitrogen exported from India worldwide, with a combined X% share of total exports.

Among the main countries of destination, the UK, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average nitrogen export price amounted to $X per cubic meter, increasing by X% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. As a result, the export 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 suppliers, the country with the highest price was Nigeria ($X per cubic meter), while the average price for exports to Bangladesh ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogen Imports

Imports into India

After two years of decline, purchases abroad of nitrogen increased by X% to X cubic meters in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, nitrogen imports rose sharply to $X in 2022. Overall, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of nitrogen to India, with a X% share of total imports. Moreover, nitrogen imports from the United States exceeded the figures recorded by the second-largest supplier, Bhutan (X cubic meters), twofold. The third position in this ranking was taken by Germany (X cubic meters), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Bhutan (X% per year) and Germany (X% per year).

In value terms, the largest nitrogen suppliers to India were the United States ($X), Germany ($X) and Bhutan ($X), together accounting for X% of total imports. South Korea, the UK, Singapore, Qatar and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average nitrogen import price amounted to $X per cubic meter, dropping by X% against the previous year. Overall, the import price showed a pronounced reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per cubic meter), while the price for Qatar ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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