Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103
Nitrogen Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Nitrogen in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Nitrogen Price Trend for the July-September of 2023
The nitrogen prices in the Asian region exhibited steady market sentiments during the third quarter of the year 2023. The plateaued nature of the nitrogen price graph showed the healthy dynamics between supply and demand outlooks of the third quarter. Since the Chinese markets started opening up and reviving after the removal of COVID-19 restrictions, the pace of recovery has been under question.
Imitating that momentum, the nitrogen demands from the pharma and chemical industries also remained confined within a limited range. The inventories registered a slow but consistent stock movement. So, with a regular and equalized influx of supplies complimented by a similar demand outlook, the nitrogen price pattern turned out to be oscillating within a narrow range. Overall, stability was experienced in the nitrogen market during the said period.
Contrary to the stable market run of the Asian market, the European nitrogen market fell consistently throughout the given span. The upstream costs slid in the European region after the economic inflation backtracked a little. The demands from the downstream consumption industries remained dull throughout; this created a surplus volume for suppliers to manage, and thus, the suppliers were forced to cut down the prices in order to promote purchases. Overall, dipping trend were observed in the nitrogen market during the said period.
The North American nitrogen market experienced a mixed market run compared to the other global markets. Since the prices followed downstream demands, the first half of the quarter saw some elevation, whereas the second half of the quarter witnessed a gradual decline. The general market outlook was fluctuating throughout the said time.
According to Procurement Resource, Nitrogen prices are likely to remain fluctuating going forward as well. The market demands are going to continue to drive the market sentiments.
Nitrogen Price Trend for First Half of 2023
In the first quarter of 2023, the prices of nitrogen oscillated owing to the declining cost of energy production, scarcity of nitrogen in the region, and several ups and downs in the downstream market. However, the market activities of the downstream industries improved in the second quarter, especially that of the tire and agricultural industries. The purchasing potential of buyers also inclined in this quarter, and the relaxed subsidy offered by the Indian government pushed the price trend of nitrogen to an inclined path.
In the first quarter of 2023, the price trend of nitrogen surged significantly in the European markets after some challenging initial months. The major cause of this incline was the rising demand for nitrogen from the food and packaging industries and the positive market momentum in European countries.
The rates of production also increase severalfold due to high rates of procurement. However, the second quarter witnessed the opposite movement of prices as the number of new orders declined significantly. The feedstock market was also affected by the high cost of energy production. In addition to this, the fertilizer industries struggled with several restrictions in this quarter, and the economic conditions also did not support the positive movement of the nitrogen price trend.
The nitrogen prices in North America declined throughout the first and second quarters of 2023 due to the feeble movement of downstream industries. The low cost of energy production, high levels of inventories, and sliding activities of the nitrogen industries caused the price trend of nitrogen to fall throughout this time period.
According to Procurement Resource, the price trend of Nitrogen is expected to show a mixed trajectory. The demand from downstream industries and global economic conditions are estimated to dictate nitrogen prices.
Procurement Resource provides latest prices of Nitrogen. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Nitrogen is the lightest element in Periodic Table Group 15, also known as the pnictogens. Two atoms of the element bind to form dinitrogen, a colourless and odourless diatomic gas, at a specific temperature and pressure. Dinitrogen constitutes approximately 78 percent of the Earth's atmosphere, making it the most widely uncombined element.
|Pharmaceuticals, Chemical, Healthcare, Transportation
|Air Liquide, Air Products Inc., Bombay Oxygen Investments Ltd, Buzwair Industrial Gases Factories, Cryomech Inc., Gulf Cryo, Linde, MVS Engineering Pvt. Ltd
|Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|US$ (Data can also be provided in local currency)
|Supplier Database Availability
|The report can be customized as per the requirements of the customer
|Post-Sale Analyst Support
|360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Under cryogenic conditions, nitrogen is produced by fractional distillation of liquid air using distillation columns. As a byproduct, oxygen is also produced.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.
Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103