Asia: Ammonium Sulphate Market 2024

Ammonium Sulphate Market Size in Asia

The Asian ammonium sulphate market dropped modestly to $X in 2022, waning by -1.7% against the previous year. In general, consumption recorded a slight downturn. The most prominent rate of growth was recorded in 2021 with an increase of 4.4% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ammonium Sulphate Production in Asia

In value terms, ammonium sulphate production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 5.4%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ammonium Sulphate Exports

Exports in Asia

In 2022, exports of ammonium sulphate in Asia reached X tons, picking up by 14% on 2021. Overall, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 49% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, ammonium sulphate exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 when exports increased by 111% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 91% of total exports in 2022. South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ammonium sulphate exports, with a CAGR of +19.9% from 2012 to 2022. Taiwan (Chinese) (-1.4%), South Korea (-6.0%) and Japan (-6.9%) illustrated a downward trend over the same period. While the share of China (+39 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-6 p.p.), Japan (-14 p.p.) and South Korea (-14.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest ammonium sulphate supplier in Asia, comprising 92% of total exports. The second position in the ranking was taken by Japan ($X), with a 2.1% share of total exports. It was followed by South Korea, with a 2.1% share.

In China, ammonium sulphate exports increased at an average annual rate of +21.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-5.7% per year) and South Korea (-7.1% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 27% against the previous year. In general, the export price posted a slight increase. The pace of growth appeared the most rapid in 2021 an increase of 65% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.4%), while the other leaders experienced mixed trends in the export price figures.

Ammonium Sulphate Imports

Imports in Asia

In 2022, supplies from abroad of ammonium sulphate increased by 8.2% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 33%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, ammonium sulphate imports surged to $X in 2022. Over the period under review, imports recorded a noticeable increase. The most prominent rate of growth was recorded in 2021 with an increase of 118%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, Indonesia (X tons), Vietnam (X tons), Turkey (X tons), Malaysia (X tons) and the Philippines (X tons) was the major importer of ammonium sulphate in Asia, constituting 77% of total import. It was distantly followed by India (X tons), Thailand (X tons) and South Korea (X tons), together achieving a 16% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +76.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, together comprising 57% of total imports. The Philippines, Malaysia, India, Thailand and South Korea lagged somewhat behind, together accounting for a further 35%.

India, with a CAGR of +74.2%, 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

In 2022, the import price in Asia amounted to $X per ton, growing by 19% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 64%. The level of import peaked in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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