Nitrogen Prices

Nitrogen Prices September 2024

The nitrogen prices in the United States for Q3 2024 reached 260 USD/MT in September. The region saw a strong price surge owing to heightened demand from global procurement activities and agriculture. Moreover, logistical channels faced strain due to stock shortages and port congestion that pushed product rates higher. Additionally, seasonal buying and economic growth supported steady nitrogen use across various industries, maintaining a bullish market trend across the quarter.

The price trend for nitrogen in India for Q3 2024 settled at 475 USD/MT in September. The market faced a major price hike due to increased local and global demand, rising import expenses, and energy rates. Furthermore, seasonal agricultural needs and industrial demand fueled steady procurement activities, contributing to supply challenges and higher prices. The quarter reflected a bullish market environment, underscoring the continued tight supply and strong demand throughout the region.

Nitrogen Prices June 2024

The nitrogen prices in the United States for Q2 2024 reached 232 USD/MT in June. The region saw a decline in prices following an initial rise. The market was affected by increased manufacturing costs due to higher ammonia prices and a robust domestic demand phase. However, oversupply and a decrease in demand towards the quarter's end, compounded by logistical challenges at the Panama Canal, led to reduced prices and a buildup of stocks.

Nitrogen Prices March 2024

The nitrogen prices in the United States for Q1 2024 reached 232 USD/MT in March. The region saw price drops in the initial two months of the quarter due to low demand from agriculture and high inventory levels. Moreover, excess supply pressured prices downward, maintaining a weak market environment. By the third month, product rates jumped with rising demand expectations and lower energy costs, highlighting a shift from the previous bearish trend in the sector.

The price trend for nitrogen in India for Q1 2024 settled at 32,500 INR/MT in March. The market faced notable price shifts in this quarter. January saw price drops due to excess supply and low demand, however the last two months of the quarter brought a surge, supported by the healthcare industry’s rising needs and supportive policies by the government promoting nano urea. As a result, towards the end of March, the market trend turned bullish, driven by strong demand and limited availability, boosting overall pricing.

In Congo, the nitrogen prices for Q1 2024 reached 1300 USD/MT in March. The market witnessed an upward pricing trend. January started on a steady note, while February experienced a slight hike due to higher import prices and food industry demand. Moreover, March brought significant price rises driven by interruptions in the shipping route and global logistical issues. Despite problems, strong domestic demand kept the industry vibrant.

Nitrogen Prices December 2023

In the United States, nitrogen prices during Q4 2023 were particularly impacted by high electronics and automotive sector demand, which pushed prices upwards. Nonetheless, the overall price rise was influenced by sluggish demand in sectors like food packaging and fertilizer, reflecting a mixed economic backdrop. The quarter ended with the prices settling at 250 USD/MT in December.

Regional Coverage

The report provides a detailed analysis of the nitrogen market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the nitrogen price trend.

Global Nitrogen Price

The report offers a holistic view of the global nitrogen pricing trends in the form of nitrogen price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into nitrogen historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into nitrogen price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed nitrogen demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Nitrogen Price

Q3 2024:

During the third quarter of 2024, the market for nitrogen in the European region saw a marked uptrend, with major price growth noted in the Netherlands. Moreover, high local and global product consumption, especially in industries like agriculture, drove this trend. Besides this, the increased procurement and active inquiries from end-use sectors contributed to supply shortages and, inventory depletion, restricted logistical channels. Apart from this, overcrowded ports and disruptions related to weather, such as flooding, added further strain to the market. Additionally, economic stability supported heightened nitrogen use across various sectors, fueling the upward price momentum. In spite of sporadic production issues, the consumption of nitrogen was strong, supported by product cost-effectiveness and preparation for crop applications.

Q2 2024:

In the second quarter of 2024, the market for nitrogen in the European region experienced a varied pricing trend shaped by several factors. Moreover, localized supply-demand imbalances resulted in inconsistent price movements, with stockpile levels heavily influencing the market. Besides this, overstocked supplies led to product rate drops, while shortages pushed prices higher. Furthermore, low agricultural product demand as a result of challenging weather conditions added to the declining price. Industrial demand also fluctuated, contributing to mixed pricing. Along with this, natural gas rates also played a pivotal role in determining manufacturing costs. Additionally, the ammonia industry showed stability due to steady exports from Russia and a strong local inventory in Germany.

Q1 2024:

The market for nitrogen in the European region in Q1 2024 witnessed varied movements in prices. The initial months saw a dip in product rates in the Netherlands due to subdued demand from the agricultural industry and an excess supply that dampened the market. Moreover, increased stock levels added to the pessimistic outlook. By the last month, product rates began to climb, supported by expectations of higher consumption and reduced energy costs, which helped offset earlier losses. Overall, Europe’s nitrogen industry showed a bearish trend characterized by limited demand and sluggish trading. The negative market sentiment prevailed, impacting trading volume and contributing to a cautious approach among buyers.

Q4 2023:

Europe's nitrogen market in Q4 2023 was marked by volatility, with prices initially declining due to reduced demand from the chemical and fertilizer sectors. As the quarter progressed, prices slightly rebounded, spurred by anticipated boosts in industrial demand and seasonal storage activities. Stabilizing prices for natural gas offered some respite to nitrogen producers despite ongoing geopolitical tensions that continued to inject uncertainty into the market. Price variances across the continent were largely impacted by availability of storage solutions, regional supply and demand balances, and the existing energy infrastructure. This period reflected a cautious approach by buyers, navigating through a landscape shaped by economic instability and fluctuating production costs.

This analysis can be extended to include detailed nitrogen price information for a comprehensive list of countries.

North America Nitrogen Price

Q3 2024:

In the third quarter of 2024, the nitrogen market in North America saw a major upward shift, especially in the United States, where prices climbed notably. This growth was driven by strong global and domestic demand, with agriculture playing a pivotal role. Moreover, high procurement activity and solid downstream inquiries created an imbalance between supply and demand, tightening inventories and straining supply chains. Additional challenges, such as overcrowded ports and interruptions due to hurricanes, exacerbated the pressure on supply. Furthermore, the market's upward dynamic was fueled by the stable growth of the economy, reflecting heightened product usage across various industries. In spite of occasional production challenges, the need for nitrogen, especially for crops, remained high. The region's nitrogen market maintained a bullish outlook across the quarter, showing continuous price increases that reinforced the positive momentum in the market environment.

Q2 2024:

In the second quarter of 2024, the North American market for nitrogen showed a strong upward trend, propelled by major factors like rising natural gas and corn rates that elevated manufacturing expenses. Moreover, geopolitical uncertainties added further pressure on logistical channels, pushing up fertilizer rates. Along with this, major disruptions in supply chain issues interrupted trade and port activities, leading to tighter supplies and price hikes. The USA witnessed significant price volatility, driven by heightened consumption in agriculture fueled by positive rates of crops and higher income in farms. Apart from this, the automotive sector’s recovery is highlighted by increased purchases of vehicles. Additionally, seasonal buying patterns, including procurement incentives, added to the market’s momentum. Overall, the quarter maintained a bullish tone, with significant price hikes reflecting positive market sentiment and robust demand.

Q1 2024:

During the first quarter of 2024, the prices of nitrogen in North America showed a mixed trend impacted by different factors. In the United States, product rates dropped in the first two months of the quarter, impacted by low consumer consumption, majorly in the agricultural industry. This decline was also fueled by an excess supply in the market, contributing to negative sentiments and limited purchasing activity. In addition, increased stock levels maintained the subdued market tone. Despite this, March saw a price uptick, supported by expectations of hiked demand and reduced manufacturing expenses due to lower rates of energy. Overall, the market in the region maintained a bearish stance, marked by increased supply and minimal demand from end-use sectors. Trading activity remained quiet, with declining prices prevailing for most of the quarter.

Q4 2023:

In Q4 2023, the North American market saw significant shifts in prices, primarily driven by a rise in automotive and electronics sector demand, especially within the United States. This increased consumption resulted in decreased stockpiles, prompting a rise in prices. Furthermore, escalated costs for essential inputs like natural gas also exacerbated price hikes. Despite a robust performance in certain sectors, weaker demand in industries such as food packaging and fertilizer has moderated these price increases somewhat. Overall, these dynamics illustrate a complex interplay between various industrial demands and supply chain factors, influencing the Nitrogen market across the region.

Specific nitrogen historical data within the United States and Canada can also be provided.

Middle East and Africa Nitrogen Price

Q3 2024:

The third quarter of 2024 saw a sharp increase in nitrogen prices in the region, driven by increased import expenses and limited local inventories. The country's dependence on nitrogen fertilizers that were imported made it susceptible to international price changes and logistical disturbances. Besides this, local manufacturing capabilities remained low and challenges surfaced in acquiring imports that were affordable, resulting in surged prices. Apart from this, international product demand, coupled with constrained freight from leading manufacturers, intensified local supply issues. Furthermore, the agricultural industry's continuous need for nitrogen to support crop yields created steady demand. Along with this, small and large-scale farming activities faced heightened financial pressure, raising concerns about the fertilizer affordability and influences on food security and manufacturing expenses. Overall, the rising trend in the nitrogen market in the region was reinforced by restricted supply and sustained demand, setting the stage for continued price pressure into the following year.

Q2 2024:

In the second quarter of 2024, the prices of nitrogen in the MEA rose notably due to domestic and global influences. Moreover, elevated United States import rates, as a result of hiked natural gas and corn expenses, heavily impacted the market. This spurred companies to stock up in expectation of upcoming product demand, maintaining a bullish sentiment. Besides this, the high manufacturing expenses, fueled by expensive natural gas, coupled with logistical challenges and geopolitical uncertainties, strained logistical channels and pushed rates higher. Furthermore, the agricultural industry in Congo remained buoyant, supported by heightened income on farms and a push to enhance crop productivity. Additionally, the manufacturing industry saw growth, driven by increased production and new orders, creating a demand-supply imbalance that added to increased gains in prices.

Q1 2024:

The market demonstrated a generally favorable pricing environment in the first quarter of 2024. Prices in Congo were steady during January, a sign of market balance. Despite ongoing issues such as power outages and transport problems, particularly at important transportation hubs like Transnet, the market's momentum remained unabated. Due to unstable international agricultural markets and Red Sea supply chain interruptions, prices in Congo increased dramatically by March. The price increase was a result of both rising local demand and import dependency. Strong interlinked demand across industries was shown by the market's consistent rising trajectory as it ended the quarter.

Q4 2023:

The report explores the nitrogen pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on nitrogen prices for countries can also be provided.

Asia Pacific Nitrogen Price

Q3 2024:

The Asia Pacific market for nitrogen in Q3 2024 saw a major price surge, with India witnessing a major impact. The factors that impacted this upward movement were high local and global product consumption, ongoing logistical challenges, elevated import expenses, and heightened rates of energy. Apart from this, interruptions at major production facilities, along with overcrowding of port and supply route disruptions, deepened the demand-supply gap. Moreover, India's market was particularly active, supported by strong industrial and agricultural demand, leading to steady price increases. Seasonal agricultural cycles further intensified procurement, pushing rates higher. The quarter demonstrated consistent price growth, reflecting the region's bullish market environment. This sustained rise underscored the robust demand and ongoing supply constraints that defined the nitrogen market landscape in Asia Pacific during this period.

Q2 2024:

The market for nitrogen in the Asia Pacific for Q2 2024 showed a marked upward pricing trend, influenced by multiple contributing factors. Moreover, rising manufacturing expenses owing to higher rates of natural gas had a major influence on product pricing. Additionally, geopolitical uncertainties and overcrowding in ports further disrupted the logistical channels, placing additional pressure on the industry. India saw the most notable price changes in the Asia Pacific, driven by robust agricultural demand bolstered by subsidies by the government and increased activities in the construction sector. Furthermore, seasonal shifts, especially the planting season preparations, increased sourcing efforts, which pushed prices upward. The Indian nitrogen market reflected a strong upward trend, supported by constrained supply and increased government backing, creating a positive pricing outlook.

Q1 2024:

The nitrogen market in the Asia Pacific region during Q1 2024 showed a mixed performance shaped by various regional dynamics. Moreover, excess supply conditions and decreased downstream demand, especially in agriculture and food, pushed prices down in January. Additionally, reduced manufacturing expenses in the major exporting countries further added to the diminishing rates. In India, major price shifts were noted as initial dips were followed by a rebound in the last two months of the quarter, spurred by the government's push for nano urea adoption and increased product consumption in the healthcare industry. This led to an overall bullish environment for India, driven by strong demand and limited supply. Across the region, prices reflected a positive trajectory by the end of the quarter.

Q4 2023:

Throughout Q4 2023, the Asia Pacific region witnessed varied trends in nitrogen pricing influenced by a confluence of factors. Notably, India's drive to boost its fertilizer production to reduce urea imports has significantly heightened demand. On the other hand, robust demand from diverse sectors like pharmaceuticals and food coupled with high manufacturing costs driven by rising natural gas prices have impacted the market. Nonetheless, factors like reduced demand for certain fertilizers and subdued regional market outlook have tempered growth. Despite a temporary dip in prices towards the year's end due to destocking and lower overseas demand, the market is anticipated to recover, driven by a low supply and rising orders from end use sectors.

This nitrogen price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Nitrogen Price

The analysis of nitrogen prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Nitrogen Price Trend, Market Analysis, and News

IMARC's latest publication, “Nitrogen Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition” presents a detailed examination of the nitrogen market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of nitrogen at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed nitrogen price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting nitrogen pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Nitrogen Market Analysis

The global nitrogen market size reached US$ 37.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 79.7 Billion, at a projected CAGR of 8.70% during 2023-2032.

• There is a rise in the need for nitrogen-based fertilizers in the agriculture sector to enhance crop yields. In line with this, continuous improvements and developments in farming methods and technologies like precision agriculture and controlled-release fertilizers, are catalyzing the demand for nitrogen fertilizers to maximize nutrient management and improve agricultural output.
• The expansion of the biofuels industry, with extensive global efforts to reduce greenhouse gas (GHG) emissions and dependency on fossil fuels is catalyzing the demand for nitrogen fertilizers to produce feedstock crops like corn and soybeans.
• Favorable government initiatives and subsidies aimed at promoting agricultural development and food security are incentivizing farmers to invest in fertilizers and improve agricultural practices, thereby contributing to the market expansion.
• Another crucial factor affecting market dynamics is the current climate change-induced weather variability and extreme events such as droughts and floods, which require the use of nitrogen fertilizers to guarantee stable yields. 
• The burgeoning growth of the chemical industry, wherein nitrogen is employed as a raw material in the production of various chemicals like ammonia, urea, and nitric acid, is aiding in market expansion. 
• Extensive funding in infrastructure development driving the demand for nitrogen-based products like concrete admixtures and explosives used in construction and mining activities.
• Significant technological advancements in nitrogen production processes such as the development of more energy-efficient and eco-friendly nitrogen fixation methods are creating a positive market outlook.
• Furthermore, rising consumer consciousness about fitness has caused their dietary tastes to move toward protein-rich meals, which is driving up demand for nitrogen-based fertilizers to support higher livestock output and feed crop cultivation.

Nitrogen News

The report covers the latest developments, updates, and trends impacting the price of nitrogen, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the nitrogen price trend.

Latest developments in the nitrogen industry:

• In October 2023, Air Liquide declared its plan to invest more than € 140 Million Euros to install a groundbreaking manufacturing facility in Bécancour, Québec (Canada) to supply low-carbon industrial gases like hydrogen, oxygen, nitrogen, and argon.
• In April 2024, Messer, a leading industrial gases company, commissioned a new energy-efficient nitrogen plant for Harman in Hungary. The plant, located in Székesfehérvár, Hungary, will supply nitrogen to Harman's automotive electronics manufacturing facility. The new plant is designed to be highly energy-efficient, reducing energy consumption and emissions compared to previous nitrogen production methods used by Harman.

Product Description

Nitrogen is a non-metallic chemical element that is colorless, odorless, and tasteless. Its stability makes it non-reactive in nature. It forms compounds with a variety of other elements to create substances like ammonia (NH₃), and nitric acid (HNO₃). It plays a crucial role in biological systems and acts as a fundamental component of amino acids, which are the building blocks of proteins. Additionally, plants also require nitrogen for photosynthesis and growth and often obtain it through atmosphere and nitrogen-based fertilizers.

Apart from this, nitrogen is employed in an array of inert gas applications, such as purging oxygen from containers to prevent combustion and oxidation, as well as packaging to extend shelf life and maintain product freshness across the food and beverage (F&B) industry.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of nitrogen pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting nitrogen price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The nitrogen price charts ensure our clients remain at the forefront of the industry.