Australia: Nitrates Market 2024

Nitrates Market Size in Australia

After two years of growth, the Australian nitrates market decreased by X% to $X in 2023. Overall, the total consumption indicated a mild 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. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

Nitrates Production in Australia

In value terms, nitrates production declined markedly to $X in 2023 estimated in export price. In general, production recorded a dramatic slump. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Nitrates production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Nitrates Exports

Exports from Australia

In 2023, exports of nitrates (excluding those of potassium) from Australia soared to X tons, with an increase of X% on the previous year's figure. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, nitrates exports soared to $X in 2023. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for nitrates exports from Australia, accounting for a X% share of total exports. It was followed by India (X tons), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Indonesia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Papua New Guinea (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for nitrates (excluding those of potassium) exports from Australia, comprising X% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (X% per year) and India (X% per year).

Export Prices by Country

In 2023, the average nitrates export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price showed a slight contraction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (X%), while the prices for the other major destinations experienced a decline.

Nitrates Imports

Imports into Australia

In 2023, purchases abroad of nitrates (excluding those of potassium) decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, continue to indicate a measured increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, nitrates imports shrank remarkably to $X in 2023. In general, imports, however, posted a temperate increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked at $X in 2022, and then declined markedly in the following year.

Imports by Country

China (X tons), Malaysia (X tons) and Portugal (X tons) were the main suppliers of nitrates imports to Australia, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Portugal ($X) constituted the largest nitrates suppliers to Australia, with a combined X% share of total imports.

Among the main suppliers, Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nitrates import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted significantly in the following year.

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

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

Source: IndexBox Platform