Scandinavia: Fertilizer Market 2024

Fertilizer Market Size in Scandinavia

In 2023, after two years of growth, there was significant decline in the Scandinavia fertilizer market, when its value decreased by X% to $X. In general, consumption, however, recorded a tangible expansion. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Fertilizer Production in Scandinavia

In value terms, fertilizer production reduced to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then dropped in the following year.

Fertilizer Exports

Exports in Scandinavia

After three years of growth, overseas shipments of fertilizers decreased by X% to X tons in 2023. Overall, exports continue to indicate a slight curtailment. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell sharply in the following year.

In value terms, fertilizer exports shrank markedly to $X in 2023. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.

Exports by Country

Norway represented the major exporting country with an export of about X tons, which accounted for X% of total exports. Sweden (X tons) held the second position in the ranking, followed by Finland (X tons). All these countries together held approx. X% share of total exports.

Norway experienced a relatively flat trend pattern with regard to volume of exports of fertilizers. At the same time, Sweden (X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of X% from 2012-2023. By contrast, Finland (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) and 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 fertilizer supplying countries in Scandinavia were Norway ($X), Finland ($X) and Sweden ($X).

In terms of the main exporting countries, Finland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Scandinavia amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, recorded notable growth. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined dramatically 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 ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Fertilizer Imports

Imports in Scandinavia

In 2023, the amount of fertilizers imported in Scandinavia declined dramatically to X tons, dropping by X% compared with 2022 figures. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of X tons, and then contracted notably in the following year.

In value terms, fertilizer imports fell dramatically to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2023, Sweden (X tons) represented the key importer of fertilizers, mixing up X% of total imports. Norway (X tons) took the second position in the ranking, distantly followed by Finland (X tons). All these countries together took near X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Sweden (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest fertilizer importing markets in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

Among the main importing countries, Finland, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2023, picking up by X% against the previous year. Import price indicated a mild 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, fertilizer import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in the near future.

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

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

Source: IndexBox Platform