Portugal: Nitrates Market 2024

Nitrates Market Size in Portugal

The Portuguese nitrates market totaled $X in 2022, surging by X% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Nitrates Production in Portugal

In value terms, nitrates production reached $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Nitrates production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Nitrates Exports

Exports from Portugal

In 2022, the amount of nitrates (excluding those of potassium) exported from Portugal reduced dramatically to X tons, waning by X% against the year before. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, nitrates exports totaled $X in 2022. Over the period under review, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons), New Zealand (X tons) and Angola (X tons) were the main destinations of nitrates exports from Portugal, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Angola (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Angola ($X), New Zealand ($X) and Australia ($X) were the largest markets for nitrates exported from Portugal worldwide, together comprising X% of total exports.

Angola, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average nitrates export price amounted to $X per ton, jumping by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrates export price increased by X% against 2020 indices. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

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

Nitrates Imports

Imports into Portugal

In 2022, the amount of nitrates (excluding those of potassium) imported into Portugal reached X tons, increasing by X% against the year before. In general, imports, however, continue to indicate a mild decrease. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, nitrates imports skyrocketed to $X in 2022. Overall, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) was the main supplier of nitrates to Portugal, accounting for a X% share of total imports. Moreover, nitrates imports from Spain exceeded the figures recorded by the second-largest supplier, Norway (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (X% per year) and France (X% per year).

In value terms, Spain ($X) constituted the largest supplier of nitrates (excluding those of potassium) to Portugal, comprising X% of total imports. The second position in the ranking was held by Norway ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (X% per year) and France (X% per year).

Import Prices by Country

In 2022, the average nitrates import price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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