South-Eastern Asia: Nitrates Market 2024

Nitrates Market Size in South-Eastern Asia

The Southeast Asian nitrates market fell modestly to $X in 2022, shrinking by X% against the previous year. The total consumption indicated strong growth 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 increased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Nitrates Production in South-Eastern Asia

In value terms, nitrates production reduced to $X in 2022 estimated in export price. The total production indicated a strong 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Nitrates Exports

Exports in South-Eastern Asia

Nitrates exports soared to X tons in 2022, increasing by X% against 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, nitrates exports skyrocketed to $X in 2022. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Malaysia (X tons) represented the main exporter of nitrates (excluding those of potassium) in South-Eastern Asia, creating X% of total export.

Malaysia was also the fastest-growing in terms of the nitrates (excluding those of potassium) exports, with a CAGR of X% from 2012 to 2022. Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) also remains the largest nitrates supplier in South-Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in Malaysia stood at X%.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, growing by X% against the previous year. Export price indicated a modest expansion 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, nitrates export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to X% per year.

Nitrates Imports

Imports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of nitrates (excluding those of potassium), when their volume decreased by X% to X tons. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of import peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, nitrates imports declined to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand was the main importing country with an import of around X tons, which finished at X% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by Indonesia (X tons) and Vietnam (X tons). All these countries together took near X% share of total imports. The Philippines (X tons), Cambodia (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. The Philippines, Vietnam, Singapore and Cambodia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Vietnam, 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 more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a perceptible expansion 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, nitrates import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the Philippines ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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