Asia-Pacific: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Asia-Pacific

The Asia-Pacific nitrogenous fertilizer market dropped slightly to $X in 2023, approximately mirroring the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Nitrogenous Fertilizer Production in Asia-Pacific

In value terms, nitrogenous fertilizer production amounted to $X in 2023 estimated in export price. The total production indicated a mild 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

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Nitrogenous Fertilizer Exports

Exports in Asia-Pacific

In 2023, nitrogenous fertilizer exports in Asia-Pacific skyrocketed to X tons, growing by X% compared with the year before. Total exports indicated a resilient expansion from 2012 to 2023: its volume 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, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, nitrogenous fertilizer exports declined sharply to $X in 2023. Over the period under review, exports recorded a temperate expansion. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then dropped remarkably in the following year.

Exports by Country

China dominates exports structure, recording X tons, which was near X% of total exports in 2023. Malaysia (X tons) took the second position in the ranking, followed by Indonesia (X tons). All these countries together took approx. X% share of total exports. The following exporters - Vietnam (X tons) and South Korea (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%), Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of 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 ($X) remains the largest nitrogenous fertilizer supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price showed a noticeable descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then contracted dramatically in the following year.

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

Nitrogenous Fertilizer Imports

Imports in Asia-Pacific

In 2023, overseas purchases of nitrogenous fertilizers (mineral or chemical) increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, nitrogenous fertilizer imports reduced rapidly to $X in 2023. In general, imports posted mild growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then dropped remarkably in the following year.

Imports by Country

India represented the main importer of nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. Australia (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), the Philippines (X%) and Vietnam (X%). The following importers - Malaysia (X tons), Indonesia (X tons), South Korea (X tons), Bangladesh (X tons), New Zealand (X tons) and American Samoa (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to nitrogenous fertilizer imports into India stood at X%. At the same time, American Samoa (X%), Australia (X%), the Philippines (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, American Samoa emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Thailand and Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (X%), South Korea (X%), Vietnam (X%) and New Zealand (X%) illustrated a downward trend over the same period. Australia (X p.p.), India (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Vietnam saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

In India, nitrogenous fertilizer 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: Australia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then reduced dramatically in the following year.

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

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

Source: IndexBox Platform