Asia: Fertilizer Market 2022

Fertilizer Market Size in Asia

In 2021, after four years of growth, there was decline in the Asian fertilizer market, when its value decreased by -3.1% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 6.1% against the previous year. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Fertilizer Production in Asia

In value terms, fertilizer production totaled $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 7.9%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Fertilizer Exports

Exports in Asia

In 2021, fertilizer exports in Asia totaled X tons, rising by 8.1% compared with the year before. The total export volume increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by 15%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, fertilizer exports surged to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of fertilizers in Asia, with the volume of exports reaching X tons, which was near 46% of total exports in 2021. Saudi Arabia (X tons) took the second position in the ranking, followed by Israel (X tons), Jordan (X tons) and Oman (X tons). All these countries together held approx. 28% share of total exports. The following exporters - the United Arab Emirates (X tons), Indonesia (X tons), Malaysia (X tons), South Korea (X tons), Iran (X tons) and Turkey (X tons) - together made up 16% of total exports.

Exports from China increased at an average annual rate of +7.0% from 2012 to 2021. At the same time, Turkey (+18.4%), the United Arab Emirates (+11.4%), Malaysia (+10.5%), Indonesia (+6.9%), Saudi Arabia (+4.4%), Jordan (+3.9%), Israel (+2.2%) and Oman (+1.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +18.4% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Iran (-6.2%) illustrated a downward trend over the same period. While the share of China (+7.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Israel (-1.8 p.p.), Oman (-1.8 p.p.) and Iran (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest fertilizer supplier in Asia, comprising 46% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total exports. It was followed by Israel, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +5.3%. In the other countries, the average annual rates were as follows: Saudi Arabia (+1.9% per year) and Israel (-2.8% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 32% against the previous year. Overall, the export price, however, showed a noticeable slump. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+2.3%), while the other leaders experienced a decline in the export price figures.

Fertilizer Imports

Imports in Asia

In 2021, purchases abroad of fertilizers decreased by -9.5% to X tons for the first time since 2016, thus ending a four-year rising trend. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2017 when imports increased by 11%. Over the period under review, imports attained the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, fertilizer imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons), distantly followed by China (X tons), Indonesia (X tons), Thailand (X tons), Turkey (X tons), Malaysia (X tons) and Vietnam (X tons) represented the largest importers of fertilizers, together making up 76% of total imports. The following importers - Bangladesh (X tons), the Philippines (X tons), South Korea (X tons), Pakistan (X tons), Japan (X tons) and Myanmar (X tons) - together made up 17% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported fertilizers in Asia, comprising 32% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Thailand, with a 9.5% share.

In India, fertilizer imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: China (-4.1% per year) and Thailand (-1.7% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 31% against the previous year. In general, the import price, however, showed a noticeable decrease. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Pakistan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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