Eastern Asia: Nitrogen Market 2024

Nitrogen Market Size in Eastern Asia

The East Asian nitrogen market rose slightly to $X in 2022, picking up by X% against the previous year. The total consumption 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Nitrogen Production in Eastern Asia

In value terms, nitrogen production expanded slightly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Nitrogen Exports

Exports in Eastern Asia

In 2022, nitrogen exports in Eastern Asia declined to X cubic meters, waning by X% compared with the previous year's figure. In general, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, nitrogen exports rose slightly to $X in 2022. Over the period under review, exports, however, posted strong growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR was the largest exporting country with an export of around X cubic meters, which resulted at X% of total exports. China (X cubic meters) ranks second in terms of the total exports with a X% share, followed by Taiwan (Chinese) (X%). South Korea (X cubic meters) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nitrogen exports from Hong Kong SAR stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, China (X%) and South Korea (X%) illustrated a downward trend over the same period. Hong Kong SAR (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea and China saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the largest nitrogen supplying countries in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and Hong Kong SAR ($X), together accounting for X% of total exports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the export price in Eastern Asia amounted to $X per cubic meter, increasing by X% against the previous year. Over the period under review, the export price showed a strong increase. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The level of export peaked at $X per cubic meter in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Taiwan (Chinese) ($X per cubic meter), while Hong Kong SAR ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Nitrogen Imports

Imports in Eastern Asia

In 2022, approx. X cubic meters of nitrogen were imported in Eastern Asia; reducing by X% on the previous year's figure. Overall, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X cubic meters. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, nitrogen imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Hong Kong SAR (X cubic meters) and China (X cubic meters) dominates imports structure, together constituting X% of total imports. Macao SAR (X cubic meters) followed a long way behind the leaders.

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

In value terms, China ($X) constitutes the largest market for imported nitrogen in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Macao SAR (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per cubic meter, surging by X% against the previous year. Over the period under review, the import price continues to indicate modest growth. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2020 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per cubic meter), while Hong Kong SAR ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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