Dicyandiamide Market

The article provides an in-depth analysis of the global dicyandiamide market, highlighting trends in consumption, production, imports, and exports from 2012 to 2022. Key findings include China leading in both consumption and production, with India being a significant importer. The market is projected to see a steady upward trend in volume and value from 2022 to 2030, with an anticipated CAGR of +1.9% and +4.4%, respectively. Prices and volumes varied across countries, with China showing the most significant growth in exports and production.

Market Forecast

Driven by increasing demand for 1-cyanoguanidine (dicyandiamide) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 349K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $1.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of 1-Cyanoguanidine (Dicyandiamide)

In 2022, global consumption of 1-cyanoguanidine (dicyandiamide) reduced slightly to 301K tons, leveling off at the previous year. The total consumption volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, global consumption hit record highs at 303K tons in 2021, and then dropped slightly in the following year.

The global dicyandiamide market revenue contracted to $877M in 2022, waning by -2.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $899M, and then dropped in the following year.

Consumption By Country

China (168K tons) remains the largest dicyandiamide consuming country worldwide, comprising approx. 56% of total volume. Moreover, dicyandiamide consumption in China exceeded the figures recorded by the second-largest consumer, India (35K tons), fivefold. The third position in this ranking was taken by the United States (21K tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +2.7%. In the other countries, the average annual rates were as follows: India (+2.6% per year) and the United States (+0.0% per year).

In value terms, China ($362M) led the market, alone. The second position in the ranking was held by Japan ($141M). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +2.3%. In the other countries, the average annual rates were as follows: Japan (-1.9% per year) and India (+5.2% per year).

In 2022, the highest levels of dicyandiamide per capita consumption was registered in Canada (440 kg per 1000 persons), followed by Japan (150 kg per 1000 persons), France (134 kg per 1000 persons) and China (119 kg per 1000 persons), while the world average per capita consumption of dicyandiamide was estimated at 38 kg per 1000 persons.

In Canada, dicyandiamide per capita consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+0.1% per year) and France (+6.7% per year).

Production

World Production of 1-Cyanoguanidine (Dicyandiamide)

After four years of growth, production of 1-cyanoguanidine (dicyandiamide) decreased by -2.5% to 296K tons in 2022. The total output volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 5.7% against the previous year. Over the period under review, global production attained the maximum volume at 303K tons in 2021, and then contracted slightly in the following year.

In value terms, dicyandiamide production dropped to $802M in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, production reached the peak level of $897M, and then fell in the following year.

Production By Country

China (228K tons) remains the largest dicyandiamide producing country worldwide, comprising approx. 77% of total volume. Moreover, dicyandiamide production in China exceeded the figures recorded by the second-largest producer, Germany (18K tons), more than tenfold. Canada (16K tons) ranked third in terms of total production with a 5.4% share.

In China, dicyandiamide production expanded at an average annual rate of +2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+0.3% per year) and Canada (-0.2% per year).

Imports

World Imports of 1-Cyanoguanidine (Dicyandiamide)

In 2022, purchases abroad of 1-cyanoguanidine (dicyandiamide) decreased by -4.7% to 83K tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 15%. Over the period under review, global imports hit record highs at 88K tons in 2021, and then fell modestly in the following year.

In value terms, dicyandiamide imports soared to $296M in 2022. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 60%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

India represented the key importer of 1-cyanoguanidine (dicyandiamide) in the world, with the volume of imports accounting for 34K tons, which was approx. 40% of total imports in 2022. It was distantly followed by France (9.1K tons), the United States (8.3K tons), Indonesia (7K tons) and Japan (3.8K tons), together achieving a 34% share of total imports. Spain (2.9K tons), Brazil (2.9K tons), Italy (2.2K tons), Turkey (2.1K tons) and Norway (1.9K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to dicyandiamide imports into India stood at +2.7%. At the same time, Indonesia (+28.6%), Turkey (+22.6%), France (+7.3%), Norway (+3.3%), Italy (+2.1%) and Spain (+1.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +28.6% from 2012-2022. Japan and Brazil experienced a relatively flat trend pattern. By contrast, the United States (-1.6%) illustrated a downward trend over the same period. Indonesia (+7.5 p.p.), France (+3.7 p.p.) and Turkey (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while Brazil and the United States saw its share reduced by -1.6% and -5.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($122M) constitutes the largest market for imported 1-cyanoguanidine (dicyandiamide) worldwide, comprising 41% of global imports. The second position in the ranking was held by the United States ($33M), with an 11% share of global imports. It was followed by France, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +6.5%. In the other countries, the average annual rates were as follows: the United States (+3.3% per year) and France (+7.9% per year).

Import Prices By Country

The average dicyandiamide import price stood at $3,547 per ton in 2022, rising by 21% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dicyandiamide import price increased by +75.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 45%. Global import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($4,569 per ton), while Indonesia ($1,320 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of 1-Cyanoguanidine (Dicyandiamide)

In 2022, after two years of growth, there was significant decline in shipments abroad of 1-cyanoguanidine (dicyandiamide), when their volume decreased by -10.7% to 79K tons. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 11%. Over the period under review, the global exports attained the maximum at 88K tons in 2021, and then fell in the following year.

In value terms, dicyandiamide exports rose rapidly to $287M in 2022. Overall, exports, however, saw a tangible increase. The growth pace was the most rapid in 2021 when exports increased by 60%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China represented the key exporter of 1-cyanoguanidine (dicyandiamide) in the world, with the volume of exports recording 61K tons, which was approx. 77% of total exports in 2022. It was distantly followed by Germany (16K tons), mixing up a 20% share of total exports.

China was also the fastest-growing in terms of the 1-cyanoguanidine (dicyandiamide) exports, with a CAGR of +2.0% from 2012 to 2022. At the same time, Germany (+1.5%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($211M) remains the largest dicyandiamide supplier worldwide, comprising 74% of global exports. The second position in the ranking was held by Germany ($65M), with a 23% share of global exports.

In China, dicyandiamide exports increased at an average annual rate of +5.5% over the period from 2012-2022.

Export Prices By Country

The average dicyandiamide export price stood at $3,639 per ton in 2022, picking up by 25% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dicyandiamide export price increased by +82.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($4,058 per ton), while China amounted to $3,482 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%).

Source: IndexBox Market Intelligence Platform