Asia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Asia

In 2021, the Asian ammonium nitrate market decreased by -3.1% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2020, and then fell in the following year.

Ammonium Nitrate Production in Asia

In value terms, ammonium nitrate production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Ammonium Nitrate Exports

Exports in Asia

Ammonium nitrate exports expanded significantly to X tons in 2021, with an increase of 7.5% compared with the year before. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 32%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, ammonium nitrate exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Georgia (X tons) and Oman (X tons) represented roughly 49% of total exports in 2021. Uzbekistan (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (9.7%), Kazakhstan (7%) and South Korea (5.2%). Turkey (X tons) and Vietnam (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +58.0%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the largest ammonium nitrate supplier in Asia, comprising 45% of total exports. The second position in the ranking was held by Georgia ($X), with a 12% share of total exports. It was followed by Oman, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia totaled +5.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Georgia (-1.6% per year) and Oman (+53.8% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 9.1% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+18.0%), while the other leaders experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports in Asia

In 2021, overseas purchases of ammonium nitrate decreased by -5.5% to X tons, falling for the second year in a row after two years of growth. In general, imports showed a drastic downturn. The pace of growth was the most pronounced in 2018 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ammonium nitrate imports skyrocketed to $X in 2021. Overall, imports saw a deep setback. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Kazakhstan (X tons) and India (X tons) were the main importers of ammonium nitrate in Asia, together amounting to approx. 35% of total imports. It was distantly followed by Kyrgyzstan (X tons), Mongolia (X tons), Turkmenistan (X tons) and Azerbaijan (X tons), together generating a 25% share of total imports. The following importers - Saudi Arabia (X tons), Vietnam (X tons), Malaysia (X tons), Armenia (X tons), South Korea (X tons), Israel (X tons) and Turkey (X tons) - together made up 21% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkmenistan (with a CAGR of +25.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Kazakhstan ($X) and Turkmenistan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 39% share of total imports.

Turkmenistan, with a CAGR of +29.1%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Asia amounted to $X per ton, jumping by 30% against the previous year. Over the period under review, the import price, however, saw a slight setback. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 Saudi Arabia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkmenistan (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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