Asia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Asia

The Asian ammonium nitrate market rose remarkably to $X in 2023, increasing by X% against the previous year. The total consumption indicated prominent growth 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 2017 indices. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Ammonium Nitrate Production in Asia

In value terms, ammonium nitrate production rose modestly to $X in 2023 estimated in export price. The total production indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

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Ammonium Nitrate Exports

Exports in Asia

In 2023, overseas shipments of ammonium nitrate decreased by X% to X tons, falling for the fourth year in a row after three years of growth. Overall, exports recorded a pronounced slump. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, ammonium nitrate exports shrank dramatically to $X in 2023. In general, exports saw a perceptible decline. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

Georgia represented the main exporting country with an export of about X tons, which amounted to X% of total exports. Oman (X tons) took the second position in the ranking, followed by Uzbekistan (X tons), South Korea (X tons), Kazakhstan (X tons) and Vietnam (X tons). All these countries together held near X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Georgia experienced a relatively flat trend pattern with regard to volume of exports of ammonium nitrate. At the same time, Oman (X%), Vietnam (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Kazakhstan experienced a relatively flat trend pattern. By contrast, Thailand (X%) and Uzbekistan (X%) illustrated a downward trend over the same period. Oman (X p.p.), Georgia (X p.p.), Uzbekistan (X p.p.), South Korea (X p.p.), Vietnam (X p.p.) and Kazakhstan (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ammonium nitrate supplying countries in Asia were Georgia ($X), Oman ($X) and Uzbekistan ($X), together accounting for X% of total exports.

Oman, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, dropping by X% against the previous year. Export price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then contracted rapidly in the following year.

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

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

Ammonium Nitrate Imports

Imports in Asia

In 2023, approx. X tons of ammonium nitrate were imported in Asia; shrinking by X% on 2022. Over the period under review, imports recorded a pronounced setback. The growth pace was the most rapid in 2022 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, ammonium nitrate imports amounted to $X in 2023. In general, imports continue to indicate a slight descent. The growth pace was the most rapid in 2022 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, India (X tons) represented the major importer of ammonium nitrate, comprising X% of total imports. Kazakhstan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mongolia (X%) and Kyrgyzstan (X%). Turkmenistan (X tons), Malaysia (X tons), Indonesia (X tons), Turkey (X tons), Armenia (X tons), Vietnam (X tons), Saudi Arabia (X tons), Azerbaijan (X tons) and Israel (X tons) took a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to ammonium nitrate imports into India stood at X%. At the same time, Turkmenistan (X%) and Mongolia (X%) displayed positive paces of growth. Moreover, Turkmenistan emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Israel, Kazakhstan and Armenia experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%), Kyrgyzstan (X%), Azerbaijan (X%), Vietnam (X%), Malaysia (X%), Indonesia (X%) and Turkey (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), Mongolia (X p.p.), Kazakhstan (X p.p.) and Turkmenistan (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Vietnam (X p.p.), Malaysia (X p.p.), Indonesia (X p.p.) and Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported ammonium nitrate in Asia, comprising X% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total imports. It was followed by Mongolia, with a X% share.

In India, ammonium nitrate imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (X% per year) and Mongolia (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, increasing by X% against the previous year. Import price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ammonium nitrate import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform