ASEAN: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in ASEAN

The ASEAN monoammonium phosphate market fell slightly to $X in 2022, with a decrease of -4.2% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Monoammonium Phosphate Production in ASEAN

In value terms, monoammonium phosphate production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 27%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Monoammonium Phosphate Exports

Exports in ASEAN

Monoammonium phosphate exports declined significantly to X tons in 2022, which is down by -19.8% against the year before. In general, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 802%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, monoammonium phosphate exports reduced dramatically to $X in 2022. Overall, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 558% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced sharply in the following year.

Exports by Country

In 2022, Vietnam (X tons) was the key exporter of monoammonium phosphate (MAP), making up 78% of total exports. It was distantly followed by Thailand (X tons), comprising a 20% share of total exports.

Vietnam was also the fastest-growing in terms of the monoammonium phosphate (MAP) exports, with a CAGR of +31.3% from 2012 to 2022. At the same time, Thailand (+10.8%) displayed positive paces of growth. Vietnam (+44 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -27% from 2012 to 2022, respectively.

In value terms, the largest monoammonium phosphate supplying countries in ASEAN were Vietnam ($X) and Thailand ($X).

Among the main exporting countries, Vietnam, with a CAGR of +27.1%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 3% against the previous year. In general, the export price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2016 an increase of 21%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Thailand ($X per ton), while Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%).

Monoammonium Phosphate Imports

Imports in ASEAN

In 2022, supplies from abroad of monoammonium phosphate (MAP) decreased by -14.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports showed a slight downturn. The pace of growth was the most pronounced in 2017 when imports increased by 39% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, monoammonium phosphate imports declined to $X in 2022. In general, imports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2021 when imports increased by 79%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons), distantly followed by Indonesia (X tons), Vietnam (X tons) and Cambodia (X tons) represented the key importers of monoammonium phosphate (MAP), together making up 92% of total imports. Thailand (X tons), Lao People's Democratic Republic (X tons) and the Philippines (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 82% share of total imports. Cambodia, Thailand, the Philippines and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 18%.

In terms of the main importing countries, Cambodia, with a CAGR of +33.8%, 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, stabilizing at the previous year. In general, the import price continues to indicate a mild curtailment. The growth pace was the most rapid in 2021 an increase of 35% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform