Forecast: Production of Fertilisers and Nitrogen Compounds in Spain

In 2023, the production of fertilizers and nitrogen compounds in Spain was 1,662.2 million kilograms of nitrogen. Over the past decade, the industry experienced significant fluctuations, with a notable low in 2015 followed by robust recovery and growth. The CAGR from 2018 to 2023 stood at 6.12%, indicating a solid upward trend despite some annual declines. Specifically, the production surged by 39.51% in 2021, dropped slightly by 3.14% in 2022, and rebounded by 3.2% in 2023.

Future trends to watch for:

• Continued moderate growth with a forecasted 5-year CAGR of 2.22% from 2024 to 2028.
• Advances in technology and increased efficiency in production methods.
• Environmental regulations and their impact on production processes and volumes.
• Global market dynamics, including supply chain shifts and raw material availability.