ASEAN: Fertilizer Market 2024

Fertilizer Market Size in ASEAN

The ASEAN fertilizer market expanded modestly to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Fertilizer Production in ASEAN

In value terms, fertilizer production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Fertilizer Exports

Exports in ASEAN

In 2022, overseas shipments of fertilizers decreased by X% to X tons, falling for the second year in a row after five years of growth. In general, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, fertilizer exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Malaysia (X tons) and Indonesia (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Vietnam (X tons), Lao People's Democratic Republic (X tons), Thailand (X tons) and Brunei Darussalam (X tons), together comprising a X% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Brunei Darussalam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Thailand, Brunei Darussalam, Lao People's Democratic Republic and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Brunei Darussalam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 ASEAN amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price posted a modest expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

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 the Philippines ($X per ton), while Lao People's Democratic Republic ($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.

Fertilizer Imports

Imports in ASEAN

In 2022, overseas purchases of fertilizers increased by X% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer imports skyrocketed to $X in 2022. Total imports indicated a pronounced 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Indonesia (X tons) represented the major importer of fertilizers, achieving X% of total imports. Malaysia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%), Vietnam (X%) and the Philippines (X%). Myanmar (X tons) and Cambodia (X tons) took a relatively small share of total imports.

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

In value terms, the largest fertilizer importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Malaysia ($X), together accounting for X% of total imports. The Philippines, Vietnam, Myanmar and Cambodia lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 ASEAN stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform