ASEAN: Potassic Fertilizer Market 2024

Potassic Fertilizer Market Size in ASEAN

For the third consecutive year, the ASEAN potassic fertilizer market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption recorded buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Potassic Fertilizer Production in ASEAN

In value terms, potassic fertilizer production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Potassic Fertilizer Exports

Exports in ASEAN

In 2022, approx. X tons of potassic fertilizers were exported in ASEAN; surging by X% on 2021 figures. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, potassic fertilizer exports surged to $X in 2022. Over the period under review, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Lao People's Democratic Republic was the major exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Vietnam (X tons) and Malaysia (X tons), together constituting a X% share of total exports. The following exporters - Thailand (X tons) and Indonesia (X tons) - each amounted to a X% share of total exports.

Lao People's Democratic Republic was also the fastest-growing in terms of the potassic fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%), Thailand (X%) and Malaysia (X%) displayed positive paces of growth. By contrast, Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Lao People's Democratic Republic and Vietnam increased by X and X percentage points, respectively.

In value terms, Lao People's Democratic Republic ($X) remains the largest potassic fertilizer supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In Lao People's Democratic Republic, potassic fertilizer exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

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

Potassic Fertilizer Imports

Imports in ASEAN

In 2022, overseas purchases of potassic fertilizers increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports posted a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, potassic fertilizer imports surged to $X in 2022. In general, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) was the key importer of potassic fertilizers, committing X% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%) and Vietnam (X%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to potassic fertilizer imports into Indonesia stood at X%. At the same time, Thailand (X%), Malaysia (X%), the Philippines (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Indonesia (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (X p.p.) and Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported potassic fertilizers in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Philippines ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were 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 a decline in the import price figures.

Source: IndexBox Platform