Asia-Pacific: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Asia-Pacific

The Asia-Pacific NPK fertilizer market declined to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Npk Fertilizer Production in Asia-Pacific

In value terms, NPK fertilizer production reduced modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Npk Fertilizer Exports

Exports in Asia-Pacific

In 2022, overseas shipments of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons, falling for the second year in a row after four years of growth. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. 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 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, NPK fertilizer exports surged to $X in 2022. Total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China represented the largest exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Asia-Pacific, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X tons), South Korea (X tons), Thailand (X tons) and Malaysia (X tons), together comprising a X% share of total exports. The following exporters - Japan (X tons) and India (X tons) - each finished at a X% share of total exports.

China was also the fastest-growing in terms of the mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and Japan (X%) displayed positive paces of growth. Vietnam experienced a relatively flat trend pattern. By contrast, South Korea (X%), Malaysia (X%) and India (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (X p.p.), Malaysia (X p.p.), Vietnam (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest NPK fertilizer supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In China, NPK fertilizer exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

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

Npk Fertilizer Imports

Imports in Asia-Pacific

In 2022, overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by X% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, NPK fertilizer imports skyrocketed to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons), distantly followed by China (X tons), Thailand (X tons), the Philippines (X tons), Indonesia (X tons), Vietnam (X tons) and Malaysia (X tons) were the key importers of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, together making up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, India ($X), China ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Thailand ($X per ton) and China ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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