Europe: Nitrites Market 2024

Nitrites Market Size in Europe

In 2023, the Europe nitrites market increased by X% to $X, rising for the third year in a row after two years of decline. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Nitrites Production in Europe

In value terms, nitrites production stood at $X in 2023 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

Nitrites Exports

Exports in Europe

In 2023, overseas shipments of nitrites decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, exports, however, posted a mild expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, nitrites exports skyrocketed to $X in 2023. Overall, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The level of export peaked in 2023 and is likely to see steady growth in years to come.

Exports by Country

Russia represented the largest exporting country with an export of around X tons, which recorded X% of total exports. The Netherlands (X tons) took the second position in the ranking, distantly followed by France (X tons) and Belgium (X tons). All these countries together held near X% share of total exports. Sweden (X tons), Italy (X tons) and Spain (X tons) held a relatively small share of total exports.

Exports from Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, the Netherlands (X%), France (X%) and Italy (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. Sweden experienced a relatively flat trend pattern. By contrast, Belgium (X%) and Spain (X%) illustrated a downward trend over the same period. Russia (X p.p.), the Netherlands (X p.p.) and France (X p.p.) significantly strengthened its position in terms of the total exports, while Belgium and Spain saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest nitrites supplier in Europe, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Russia amounted to X%. In the other countries, the average annual rates were as follows: the Netherlands (X% per year) and France (X% per year).

Export Prices by Country

In 2023, the export price in Europe amounted to $X per ton, with an increase of X% against the previous year. In general, the export price continues to indicate a pronounced increase. The growth pace was the most rapid in 2022 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the near future.

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 Spain ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

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

Nitrites Imports

Imports in Europe

In 2023, overseas purchases of nitrites increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, saw a mild reduction. The pace of growth appeared the most rapid in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, nitrites imports totaled $X in 2023. Total imports indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

Imports by Country

The Netherlands was the key importer of nitrites in Europe, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. France (X tons) ranks second in terms of the total imports with a X% share, followed by Germany (X%), the UK (X%), Austria (X%) and Belgium (X%). The following importers - Spain (X tons) and Sweden (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to nitrites imports into the Netherlands stood at X%. At the same time, Austria (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2023. France and Sweden experienced a relatively flat trend pattern. By contrast, Germany (X%), Spain (X%) and the UK (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands and Austria increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest nitrites importing markets in Europe were the Netherlands ($X), France ($X) and Germany ($X), with a combined X% share of total imports. The UK, Belgium, Austria, Spain and Sweden lagged somewhat behind, together accounting for a further X%.

Austria, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Europe stood at $X per ton in 2023, remaining constant against the previous year. Import price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, nitrites import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sweden ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform