Potassium Nitrate Prices

Potassium Nitrate Prices September 2024

The market prices in Jordan for Q3 2024 reached 836 USD/MT in September. The market saw a substantial price decline due to a periodic slowdown in agronomic demand. Reduced fertilizer consumption, combined with increased manufacturing efficiency, leads to a market excess. Additionally, fluctuating shipping costs and geopolitical challenges compounded the situation, making transportation costs volatile. These factors contributed to a consistently bearish market sentiment throughout the quarter.

The price trend for potassium nitrate in China for Q3 2024 settled at 748 USD/MT in September. China's market faced a downturn driven by weakened requirements and an oversupply of fertilizers. A periodic fall in agriculture, linked with increased native manufacturing, led to a surplus in the market. Logistical disruptions involving port congestion and trade tensions further complex the situation, resulting in falling prices as economic forces took their toll on the fertilizer sector.

In the Netherlands, the prices for Q3 2024 reached 920 USD/MT in September. In the Netherlands, the market saw an upward pricing trend due to strong requirements from the agricultural industry. In the process of getting ready to plant, logistical concerns, including labor constraints and port congestion, impacted supply chains. These factors, along with geopolitical tensions, helped sustain the bullish pricing environment in the country despite supply-side constraints.

Potassium Nitrate Prices June 2024

The prices of potassium nitrate in Jordan for Q2 2024 reached 885 USD/MT in June. The prices saw an upward trend, largely prompted by increased demand from international distributors and the region’s limited manufacturing capabilities. The pre-monsoon agriculture period spurred strong demand, while trade activity further pulled local supply. Moreover, Jordan’s responsibility towards sustainability, highlighted by recent planned projects, added momentum to the positive pricing environment.

The price trend for potassium nitrate in China for Q2 2024 settled at 820 USD/MT in June. The market saw significant price gains driven by intensified demand amid seasonal planting preparations and robust export activity. The pre-monsoon season spurred heightened enricher demand, while supply remained constrained despite heightened domestic invention, indicating a stretching market and contributing to the sustained upward trend in prices across the region.

In Spain, the prices for Q2 2024 reached 950 USD/MT in June. The country observed a notable fall driven by a continuing decrease in cultivated demand and a regional shift toward cost-effective manures like urea. Ample imports further contributed to an overflow, intensifying downward pressure on prices, as farmers favored budget-friendly options, reflecting broader European trends toward affordable alternatives in fertilizers.

Potassium Nitrate Prices December 2023

The potassium nitrate prices in the Netherlands for Q4 2023 reached 900 USD/MT in December. The prices in the Netherlands increased due to the increased fertilizer industry demand. Producers stocked beforehand maintenance periods, and positive market sentiment from new production plans contributed to the price hike. The strengthening of the Euro against the USD also supported the upward trend.

The price trend for potassium nitrate in China for Q4 2023, reached 745 USD/MT in December. China’s potassium nitrate market in this quarter witnessed a decline in prices driven by weak demand from the fertilizer sector. Maintenance shutdowns of production facilities and currency depreciation further impacted pricing. Despite festive season activity, the market remained subdued due to low demand and broader economic uncertainties.

The price trend for potassium nitrate in Jordan for Q4 2023, reached 800 USD/MT in December. The market in Jordan experienced a decline in prices during Q4 2023. High domestic stock and limited growth in demand resulted in the drop. The eased upstream prices and a weaker dollar also played a role in the price reduction, although no plant shutdowns were reported.

Regional Coverage

The report provides a detailed analysis of the potassium nitrate 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 potassium nitrate price trend.

Global Potassium Nitrate Price

The report offers a holistic view of the global potassium nitrate pricing trends in the form of potassium nitrate 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 potassium nitrate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes. 

The report also delves into potassium nitrate 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 potassium nitrate 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 Potassium Nitrate Price

Q3 2024:

In Europe, the market saw upward pricing trends, propelled by robust periodic need from the field of agriculture industry. As agriculturalists willing to plant, the growing need in overlapped with supply chain restrictions, including production issues, labor constraints and port congestion. The market dynamics were further complicated by unfavorable weather and geopolitical tensions, particularly affecting imports from Russia. Despite these issues, the European market stayed bullish, with the Netherlands experiencing significant price increases, fueled by the ongoing supply and demand imbalance. These factors, including logistical inefficiencies and tight supply, helped sustain upward pressure on prices, particularly towards the end of the quarter.

Q2 2024:

In Europe, the prices declined during Q2 2024, driven by diminished demand and an oversupply situation. The periodic lull in cultivated pursuits led to reduced fertilizer demand, with many planters choosing more affordable replacements like urea and ammonium nitrate. An increase in imports from foremost manufacturers compounded the supply, intensifying descending price pressure. Spain has undergone highly pronounced cost adjustments within the region, exhibiting both local influences and broader European trends. Spanish farmers also leaned toward cost-effective manures, contributing to a consistent decrease in potassium nitrate prices throughout the quarter. This trend emphasized the impact of both seasonal demand fluctuations and shifts toward economic choices within the European agricultural market.

Q4 2023:

Europe's potassium nitrate market in Q4 2023 experienced significant influences from rising demand for fertilizer products and climate-related disruptions. Increased interest in climate-neutral fertilizers and concerns over decreased shipments due to El Nino climatic patterns have provided an optimistic outlook to the market. Furthermore, higher gas prices and geopolitical uncertainties impacted energy and manufacturing sectors, pushing prices upward. In the Netherlands, the market saw a price increase driven by strong demand from the fertilizer sector and positive market sentiment fueled by upcoming production plans. Despite some global plant closures affecting supply, domestic stocking helped balance the market.

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

North America Potassium Nitrate Price

Q3 2024:

In the FY24, the market experienced a downturn, boosted by a blend of reduced supply and demand side adjustments. Climatic falls in agriculture led to a decrease in manure purchases, compounded by financial vagueness that kept buyers cautious. Regarding the supply side, rising native manufacturing and surplus inventories added descending pressure on market rates. The market was further affected by a rise in imports, which contributed to market saturation. As a result, prices continued to fall throughout the quarter. Factory closures also played a role in tightening supply briefly, but overall, the market sentiment remained bearish due to the mixture of lower demand and excessive supply.

Q2 2024:

In Q2 2024, in North America, the prices saw a notable decline, primarily driven by a weakened demand in the agricultural sector due to challenging climate circumstances and profitable uncertainties. Manufacturing concentrations like biological administering and pharmaceuticals also experienced slowdowns, further impacting demand. On the side of supply, elevated internal manufacturing and increased imports established an oversupply, pushing prices downward. The agricultural community, despite constructive planting circumstances, remained cautious, holding back on purchases in anticipation of additional price declines. Moreover, international requirements stayed limited due to unfavorable weather in key markets such as Europe and Brazil. They are linked with lower manufacturing costs owing to reduced feedstock expenses, these factors collectively pressured prices downward in the region.

Q4 2023:

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

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

Middle East and Africa Potassium Nitrate Price

Q3 2024:

In the Middle East and Africa region, the market faced a fall in prices during Q3 2024, with Jordan seeing notable shifts. The descending was driven by several aspects, including a climate downturn in agricultural action, leading to lower requirements for manures. Manufacturing effectiveness and inventory modifications further support the surplus in the market, exerting downward pressure on prices. Geopolitical issues and fluctuating shipment rates added complexity to the situation, influencing transportation costs. In Jordan, the combination of reduced agricultural need and higher manufacturing levels resulted in continued price declines, reflecting the broader challenges faced in the region.

Q2 2024:

During FY24, in the MEA region, the prices rose steadily, influenced by strong agricultural demand and limited supply. Regional demand intensified in key farming sectors, while the worldwide fertilizer market's enthusiastic developments further pressured prices. Jordan played a substantial role, with heightened demand from foremost traders such as the USA and India amplifying the strain on local supply. Constrained manufacturing capability fueled the need for exports, which constrained availability within the region. The deliberate collaboration in Jordan on desalination development also highlighted the country's focus on environmental resource administration. By the end of the quarter, the MEA region experienced a positively trending price environment driven by solid demand and adaptive supply strategies.

Q4 2023:

The market in the MEA region during Q4 2023 faced a downward trend due to surplus inventory and limited demand growth. Concerns about energy and manufacturing disruptions from geopolitical events added to market caution. In Jordan, prices declined as a result of high domestic inventory and reduced demand. Although no plant shutdowns were reported, the surplus inventory and easing upstream prices resulted in the price drop. Overall, the market witnessed a drop in prices of potassium nitrate, with Jordan showing the most notable changes.

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

Asia Pacific Potassium Nitrate Price

Q3 2024:

In the Asia Pacific region, the market saw a significant fall in prices during Q3 2024, largely driven by a reduction in need and an oversupply of fertilizers. In China, a fall in agriculture due to seasonal changes, combined with growing manufacturing natively, contributed to an increased supply of potassium nitrate, putting descending pressure on costs. Logistical disputes, such as port congestion and trade tensions, further exacerbated market conditions, making it difficult to stabilize supply chains. Even though some imports from other regions the overall requirement remained weak. Economic factors, including increasing redundancy, compounded the bearish outlook, causing a continued decline in cost throughout the quarter.

Q2 2024:

The Asia Pacific region experienced a strong rise in prices in Q2 2024, propelled by heightened agricultural demand and supply limitations. With the onset of peak planting seasons, regional demand surged, especially as farmers prepared for fertilization activities. Supply chain disturbances and controlling constraints limited availability, while increasing prices of raw materials like ammonium nitrate further pressured construction costs, fueling price increases. China notably led this rising trend, where increased demand for manures through the pre-monsoon establishing season, linked with strong trade activity, drove prices up. While domestic construction rose, supply continued to tighten, underscoring the region’s intensified pressure amid restrained resources.

Q4 2023:

In the fourth quarter of 2023, the market in the APAC region faced a bearish trend. Demand from the fertilizer sector remained weak, affected by low consumer and investor confidence. Ongoing maintenance shutdowns of production facilities further constrained supply, contributing to a decrease in prices. In China, the market saw lower prices due to subdued demand despite the festive season. The depreciation of local currency and uncertainties related to global energy and manufacturing issues also pressured prices. Overall, limited demand, currency fluctuations, and production disruptions influenced the Potassium Nitrate market in APAC, leading to a decrease in pricing.

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

Latin America Potassium Nitrate Price

The analysis of potassium nitrate 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

Potassium Nitrate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Potassium Nitrate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of potassium nitrate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of potassium nitrate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of potassium nitrate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing potassium nitrate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Potassium Nitrate Market Analysis

The global potassium nitrate market size reached US$ 1.8 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.3 Billion, at a projected CAGR of 2.60% during 2023-2032.

• The market expansion is being supported by the growing demand for potassium nitrate in the agriculture sector. This crucial fertilizer promotes the development of plant tissues, facilitates photosynthesis, increases water efficiency, and strengthens the resilience of plants against pests and illnesses. Important chemicals like potassium nitrate are expected to be in high demand because of the agrochemical industry's predicted 3.3% annual growth rate between 2024 and 2032. Agrochemicals containing KNO3 are becoming more and more necessary as the global agricultural sector grows quickly. For example, this business generated an anticipated 220.7 billion euros in gross value added in Europe in 2022.
• Additionally, increased agricultural output is required due to the world's population growth, which is occurring at a significant rate. Because potassium nitrate is soluble and readily absorbed by plants, it increases agricultural yields. In order to support attempts to attain food security, it also offers the capacity to boost crop size, quality, and general health. The State of Food Security and Nutrition in the World report for 2023 states that between 691 and 783 million people experienced hunger in 2022, a 122 million increase from 2019. The study also showed that 900 million people have severe food insecurity and 2.4 billion people had moderate to severe food insecurity. Over 3.1 billion people cannot afford a healthy diet, and nearly 600 million people are projected to be chronically undernourished by 2030.
• The market is expanding due to the use of cutting-edge farming methods including hydroponics, precision farming, and controlled environment agriculture (CEA), which call for particular kinds of fertilizers. Potassium nitrate is prized for its balanced delivery and outstanding solubility. Additionally, it is anticipated that the precision agriculture market would grow at a 9.9% annual pace and reach a total value of USD 20.2 billion by 2032. Similarly, the hydroponics market is expected to expand at a rate of 10.1% year and reach 32.5 billion by 2032.
• The market expansion is being supported by the growing horticulture, which uses potassium nitrate to cultivate fruits, vegetables, flowers, and ornamental plants. It improves the appearance and flavor of the produce in addition to promoting plant growth. At an estimated growth rate of 8%, the greenhouse horticulture sector is predicted to reach US$ 63.3 billion by 2032. Additionally, India produced about 341.63 million tons of horticulture overall in 2021–2022, an increase of 2.10% from 2020–21.
• Potassium nitrate is also employed in industrial applications, such as manufacturing of glass. It is also used in the pyrotechnics industry for the manufacturing of fireworks. According to the American Pyrotechnics Association, the fireworks industry’s revenue grew from $407 million in 2000 to $2.3 billion in 2022. Also, in 2022, Americans purchased 461.7 million pounds of fireworks.

Potassium Nitrate News

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

Latest developments in the potassium nitrate industry:

• In March 2024, EuroChem started work on its new production facility with a capacity of 70,000 tonnes per year. In this project, the company has made a total investment of 7.4 billion rubles (US$81 million). The new facility is expected to start production of water soluble fertilizers, such as potassium nitrate (NOP) in the third quarter of 2024.

Product Description

Potassium nitrate (KNO3) is a white to dirty gray, white crystalline salt made up of potassium and nitrate ions. It is an odorless, noncombustible solid with a cooling, saline-pungent taste. Different physical properties of potassium nitrate include molecular weight (101.103 g/mol), boiling point (752 °F at 760 mmHg), melting point (633.2 °F), and density (2.109). It is insoluble in ethanol but offers good solubility in water and glycerol.

Potassium nitrate is found in an impure form, called saltpetre, as a white deposit on the surface of rocks. In the lab, it is manufactured by the direct reaction between potassium chloride and concentrated nitric acid. It can also be produced by the direct action of nitric acid on caustic soda or carbonate of potash.

It is used in fertilizers, pesticides, fireworks, explosives, fluxes, matches, rocket propellants, glass, food preservatives, cleaning products, medicines, and as an additive in toothpaste. Potassium nitrate also supports combustion in gas cartridges used as pyrotechnic fumigants in the burrows.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of potassium nitrate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting potassium nitrate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, 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 potassium nitrate price charts ensure our clients remain at the forefront of the industry.