Scandinavia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Scandinavia

For the third year in a row, the Scandinavia NPK fertilizer market recorded growth in sales value, which increased by X% to $X in 2023. In general, consumption enjoyed strong growth. Over the period under review, the market hit record highs in 2023 and is likely to see gradual growth in years to come.

Npk Fertilizer Production in Scandinavia

In value terms, NPK fertilizer production dropped to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of production peaked at $X in 2022, and then fell in the following year.

Npk Fertilizer Exports

Exports in Scandinavia

In 2023, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports saw a noticeable slump. The growth pace was the most rapid in 2022 when exports increased by X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, NPK fertilizer exports dropped remarkably to $X in 2023. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then reduced notably in the following year.

Exports by Country

Norway represented the largest exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by Finland (X tons), creating an X% share of total exports.

Norway was also the fastest-growing in terms of the mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports, with a CAGR of X% from 2012 to 2023. Finland (X%) illustrated a downward trend over the same period. While the share of Norway (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Finland (X p.p.) displayed negative dynamics.

In value terms, the largest NPK fertilizer supplying countries in Scandinavia were Norway ($X) and Finland ($X).

Finland, with a CAGR of X%, 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 Scandinavia stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price, however, showed a noticeable expansion. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then reduced markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Norway totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%).

Npk Fertilizer Imports

Imports in Scandinavia

In 2023, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, NPK fertilizer imports contracted rapidly to $X in 2023. Overall, imports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Sweden represented the major importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Finland (X tons), committing a X% share of total imports. Norway (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the mixed nitrogen, phosphorus and potassium (NPK) fertilizers imports, with a CAGR of X% from 2012 to 2023. Finland (X%) and Norway (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Sweden increased by X percentage points.

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

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

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per ton, which is down by X% against the previous year. Overall, the import price, however, saw modest growth. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform