Asia: Market for Calcium Ammonium Nitrate (CAN) 2024

Market Size for Calcium Ammonium Nitrate (CAN) in Asia

After four years of growth, the Asian calcium ammonium nitrate (CAN) market decreased by -5.9% to $X in 2021. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +50.4% against 2016 indices. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Production of Calcium Ammonium Nitrate (CAN) in Asia

In value terms, calcium ammonium nitrate (CAN) production shrank to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +54.9% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 20%. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Exports of Calcium Ammonium Nitrate (CAN)

Exports in Asia

For the fifth consecutive year, Asia recorded growth in overseas shipments of calcium ammonium nitrate (CAN), which increased by 6.7% to X tons in 2021. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 262%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, calcium ammonium nitrate (CAN) exports surged to $X in 2021. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 168% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Turkey (X tons) represented roughly 99% of total exports in 2021.

Turkey was also the fastest-growing in terms of the calcium ammonium nitrate (CAN) exports, with a CAGR of +31.6% from 2012 to 2021. Turkey (+25 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest calcium ammonium nitrate (CAN) supplier in Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +29.7%.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, rising by 85% against the previous year. Overall, the export price, however, recorded a pronounced descent. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to -1.4% per year.

Imports of Calcium Ammonium Nitrate (CAN)

Imports in Asia

For the eighth consecutive year, Asia recorded growth in purchases abroad of calcium ammonium nitrate (CAN), which increased by 19% to X tons in 2021. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 47%. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, calcium ammonium nitrate (CAN) imports soared to $X in 2021. In general, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mongolia represented the main importer of calcium ammonium nitrate (CAN) in Asia, with the volume of imports amounting to X tons, which was approx. 23% of total imports in 2021. Thailand (X tons) took a 7.9% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (7.9%), Turkey (7.9%), Timor-Leste (7.9%), Turkmenistan (7.9%), Azerbaijan (7.6%), Sri Lanka (6.1%), Syrian Arab Republic (6.1%), South Korea (6.1%) and Taiwan (Chinese) (6.1%).

Mongolia was also the fastest-growing in terms of the calcium ammonium nitrate (CAN) imports, with a CAGR of +35.4% from 2012 to 2021. At the same time, the United Arab Emirates (+33.4%), Timor-Leste (+33.4%), Turkey (+33.4%), Turkmenistan (+33.4%), Thailand (+33.4%), Sri Lanka (+6.4%), Taiwan (Chinese) (+6.4%), Syrian Arab Republic (+6.4%) and South Korea (+6.4%) displayed positive paces of growth. By contrast, Azerbaijan (-2.7%) illustrated a downward trend over the same period. While the share of Mongolia (+18 p.p.), the United Arab Emirates (+6 p.p.), Timor-Leste (+6 p.p.), Turkey (+6 p.p.), Turkmenistan (+6 p.p.) and Thailand (+6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sri Lanka (-5.3 p.p.), Syrian Arab Republic (-5.3 p.p.), South Korea (-5.3 p.p.), Taiwan (Chinese) (-5.3 p.p.) and Azerbaijan (-24.2 p.p.) displayed negative dynamics.

In value terms, Mongolia ($X) constitutes the largest market for imported calcium ammonium nitrate (CAN) in Asia, comprising 24% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with an 8.8% share of total imports. It was followed by the United Arab Emirates, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mongolia totaled +32.9%. In the other countries, the average annual rates were as follows: Azerbaijan (-3.1% per year) and the United Arab Emirates (+30.6% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 32% against the previous year. In general, the import price, however, saw a slight shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Azerbaijan ($X per ton) and Sri Lanka ($X per ton), while Thailand ($X per ton) and Turkmenistan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :