China: Monoammonium Phosphate Market 2023

Monoammonium Phosphate Market Size in China

In 2021, the Chinese monoammonium phosphate market decreased by -8.8% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the market value increased by 9.8%. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Monoammonium Phosphate Production in China

In value terms, monoammonium phosphate production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 26%. Monoammonium phosphate production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Monoammonium Phosphate Exports

Exports from China

In 2021, shipments abroad of monoammonium phosphate (MAP) increased by 52% to X tons, rising for the second year in a row after two years of decline. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 228%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, monoammonium phosphate exports soared to $X in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2014 with an increase of 251% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Brazil (X tons) was the main destination for monoammonium phosphate exports from China, accounting for a 50% share of total exports. Moreover, monoammonium phosphate exports to Brazil exceeded the volume sent to the second major destination, Argentina (X tons), fourfold. The third position in this ranking was taken by Australia (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil totaled +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+34.1% per year) and Australia (+28.6% per year).

In value terms, Brazil ($X) remains the key foreign market for monoammonium phosphate (MAP) exports from China, comprising 47% of total exports. The second position in the ranking was taken by Argentina ($X), with an 11% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Brazil totaled +29.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+34.9% per year) and Australia (+28.4% per year).

Export Prices by Country

In 2021, the average monoammonium phosphate export price amounted to $X per ton, surging by 52% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were Japan ($X per ton) and India ($X per ton), while the average price for exports to Malaysia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into China

Monoammonium phosphate imports into China declined significantly to X tons in 2021, which is down by -99.8% compared with 2020 figures. Overall, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 602,777% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, monoammonium phosphate imports reduced sharply to $X in 2021. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 12,984% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the main supplier of monoammonium phosphate to China, accounting for a 91% share of total imports. Moreover, monoammonium phosphate imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Russia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (0.0% per year) and Japan (-0.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of monoammonium phosphate (MAP) to China, comprising 55% of total imports. The second position in the ranking was held by Japan ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.1% per year) and Russia (0.0% per year).

Import Prices by Country

In 2021, the average monoammonium phosphate import price amounted to $X per ton, growing by 197% against the previous year. In general, the import price, however, showed a deep downturn. The growth pace was the most rapid in 2013 when the average import price increased by 215% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-5.8%).

Source: IndexBox Market Intelligence Platform

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