ASEAN: Ammonium Sulphate Market 2024

Ammonium Sulphate Market Size in ASEAN

The ASEAN ammonium sulphate market dropped slightly to $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +78.5% against 2020 indices. As a result, consumption reached the peak level of $X, and then contracted slightly in the following year.

Ammonium Sulphate Production in ASEAN

In value terms, ammonium sulphate production fell to $X in 2022 estimated in export price. In general, production saw a noticeable contraction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 14%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Ammonium Sulphate Exports

Exports in ASEAN

Ammonium sulphate exports shrank significantly to X tons in 2022, declining by -20.3% compared with 2021 figures. Over the period under review, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, ammonium sulphate exports rose notably to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 130%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Thailand was the key exporter of ammonium sulphate in ASEAN, with the volume of exports recording X tons, which was near 60% of total exports in 2022. Singapore (X tons) ranks second in terms of the total exports with a 23% share, followed by Vietnam (8.2%) and Indonesia (6.8%). Malaysia (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +6.8% from 2012 to 2022. At the same time, Singapore (+18.5%), Vietnam (+5.9%) and Indonesia (+1.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +18.5% from 2012-2022. By contrast, Malaysia (-3.4%) illustrated a downward trend over the same period. Singapore (+15 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Indonesia saw its share reduced by -3.4% and -4.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest ammonium sulphate supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was taken by Singapore ($X), with a 20% share of total exports. It was followed by Vietnam, with a 6.9% share.

In Thailand, ammonium sulphate exports expanded at an average annual rate of +9.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+20.5% per year) and Vietnam (+4.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 43% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 54%. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Ammonium Sulphate Imports

Imports in ASEAN

Ammonium sulphate imports shrank slightly to X tons in 2022, waning by -3.8% compared with the year before. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 48%. As a result, imports attained the peak of X tons, and then contracted slightly in the following year.

In value terms, ammonium sulphate imports rose to $X in 2022. Over the period under review, imports, however, posted tangible growth. The pace of growth appeared the most rapid in 2021 when imports increased by 152%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) represented the largest importer of ammonium sulphate in ASEAN, comprising 91% of total import. It was distantly followed by Thailand (X tons), making up a 7.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium sulphate importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and the Philippines ($X), with a combined 73% share of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +6.0%, recorded 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

In 2022, the import price in ASEAN amounted to $X per ton, rising by 5.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 70%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform