ASEAN: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in ASEAN

After five years of growth, the ASEAN potassium nitrate market decreased by X% to $X in 2023. The total consumption indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2022, and then shrank in the following year.

Potassium Nitrate Production in ASEAN

In value terms, potassium nitrate production stood at $X in 2023 estimated in export price. Overall, production showed a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Potassium Nitrate Exports

Exports in ASEAN

In 2023, the amount of potassium nitrates exported in ASEAN dropped dramatically to X tons, reducing by X% on the previous year's figure. In general, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, potassium nitrate exports reduced sharply to $X in 2023. Over the period under review, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Thailand (X tons) was the main exporter of potassium nitrates, mixing up X% of total exports. It was distantly followed by Singapore (X tons), committing a X% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to potassium nitrate exports from Thailand stood at X%. At the same time, Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Singapore (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest potassium nitrate supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports.

In Thailand, potassium nitrate exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, falling by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Potassium Nitrate Imports

Imports in ASEAN

In 2023, approx. X tons of potassium nitrates were imported in ASEAN; shrinking by X% against 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2022, and then fell rapidly in the following year.

In value terms, potassium nitrate imports contracted notably to $X in 2023. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

Thailand (X tons), Indonesia (X tons), Malaysia (X tons) and Vietnam (X tons) represented roughly X% of total imports in 2023. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium nitrate importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Indonesia ($X), together comprising X% of total imports.

Among the main importing countries, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform