U.S.: Fertilizer Market 2022

Fertilizer Market Size in the U.S.

After two years of decline, the U.S. fertilizer market increased by 23% to $X in 2021. Over the period under review, consumption, however, continues to indicate a slight decline. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Fertilizer Production in the U.S.

In value terms, fertilizer production totaled $X in 2021. Overall, production, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Fertilizer Exports

Exports from the U.S.

In 2021, overseas shipments of fertilizers decreased by -12.4% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 27%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, fertilizer exports soared to $X in 2021. Overall, exports showed a pronounced decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), Canada (X tons) and Mexico (X tons) were the main destinations of fertilizer exports from the United States, with a combined 71% share of total exports. These countries were followed by China, South Korea, Argentina, Japan, Australia, Colombia, Peru, Taiwan (Chinese), Uruguay and India, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were in Uruguay (with a CAGR of +16.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fertilizer exported from the United States were Canada ($X), Brazil ($X) and Mexico ($X), with a combined 68% share of total exports. Australia, China, Colombia, Japan, South Korea, Argentina, Peru, Taiwan (Chinese), Uruguay and India lagged somewhat behind, together accounting for a further 23%.

Uruguay, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fertilizer export price amounted to $X per ton, picking up by 47% against the previous year. Over the period under review, the export price, however, recorded a mild shrinkage. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+15.0%), while the prices for the other major destinations experienced a decline.

Fertilizer Imports

Imports into the U.S.

In 2021, supplies from abroad of fertilizers was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 30%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, fertilizer imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of fertilizer to the United States, accounting for a 46% share of total imports. Moreover, fertilizer imports from Canada exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+9.5% per year) and Saudi Arabia (+15.4% per year).

In value terms, Canada ($X) constituted the largest supplier of fertilizer to the United States, comprising 38% of total imports. The second position in the ranking was taken by Russia ($X), with a 12% share of total imports. It was followed by Saudi Arabia, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Canada stood at -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+5.5% per year) and Saudi Arabia (+14.1% per year).

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2021, surging by 52% against the previous year. In general, the import price, however, continues to indicate a noticeable slump. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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