Report Update: May 1, 2024

Spain - Nitrogen - Market Analysis, Forecast, Size, Trends And Insights

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Nitrogen Price in Spain - 2023

Nitrogen Price in Spain (FOB) - 2022

In 2022, the average nitrogen export price amounted to $0.3 per cubic meter, jumping by 34% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrogen export price increased by +52.5% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guinea ($0.7 per cubic meter), while the average price for exports to Portugal ($0.3 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 Guinea (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogen Price in Spain (CIF) - 2022

The average nitrogen import price stood at $0.4 per cubic meter in 2022, reducing by -11.7% against the previous year. Over the period under review, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 14%. As a result, import price reached the peak level of $1.4 per cubic meter. From 2015 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($1.1 per cubic meter), while the price for France (less than $0.1 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-3.6%), while the prices for the other major suppliers experienced a decline.

Nitrogen Exports in Spain

Nitrogen exports from Spain declined dramatically to 10M cubic meters in 2022, dropping by -33.5% on the year before. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when exports increased by 9.8%. Over the period under review, the exports attained the peak figure at 17M cubic meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, nitrogen exports contracted to $3.1M in 2022. In general, exports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of $3.5M, and then reduced in the following year.

Export of Nitrogen in Spain (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Portugal	2,768	2,199	2,610	2,449	-4.0%
France	297	251	534	241	-6.7%
Guinea	0.6	9.8	42.3	130	500.6%
Others	334	341	327	300	-3.5%
Total	3,399	2,801	3,513	3,120	-2.8%

Top Export Markets for Nitrogen from Spain in 2022:

Portugal (9.1M cubic meters)
France (0.5M cubic meters)
Guinea (0.2M cubic meters)

Nitrogen Imports in Spain

In 2022, approx. 7.7M cubic meters of nitrogen were imported into Spain; increasing by 24% on 2021 figures. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.7% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 44% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, nitrogen imports rose significantly to $2.7M in 2022. The total import value increased at an average annual rate of +8.5% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 10%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Import of Nitrogen in Spain (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Portugal	982	943	850	1,396	12.4%
Belgium	299	317	718	411	11.2%
Germany	169	259	342	250	13.9%
Italy	228	199	166	203	-3.8%
Netherlands	36.3	108	77.7	176	69.3%
Czech Republic	7.8	102	103	32.8	61.4%
France	24.5	15.4	0.6	32.3	9.7%
United Kingdom	278	226	33.8	30.1	-52.3%
Others	114	96.3	203	201	20.8%
Total	2,139	2,265	2,494	2,732	8.5%

Top Suppliers of Nitrogen to Spain in 2022:

Portugal (3402.3K cubic meters)
Netherlands (1076.0K cubic meters)
France (932.4K cubic meters)
Belgium (613.0K cubic meters)
Italy (584.0K cubic meters)
Czech Republic (523.6K cubic meters)
Germany (221.6K cubic meters)
United Kingdom (73.4K cubic meters)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the nitrogen market in Spain. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20111160 - Nitrogen

Country coverage:

Spain

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Spain
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023