Asia: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Asia

The Asian market for compounds with other nitrogen function (excluding isocyanates) contracted to $X in 2022, with a decrease of -10.9% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in Asia

In value terms, compounds with other nitrogen function production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 67%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports in Asia

In 2022, after two years of decline, there was growth in shipments abroad of compounds with other nitrogen function (excluding isocyanates), when their volume increased by 0.5% to X tons. The total export volume increased at an average annual rate of +2.8% 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 2017 with an increase of 54% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 49% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, reaching X tons, which was near 88% of total exports in 2022. It was distantly followed by Thailand (X tons), mixing up a 5.3% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to compounds with other nitrogen function exports from China stood at +2.6%. At the same time, Taiwan (Chinese) (+45.5%) and Thailand (+41.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +45.5% from 2012-2022. From 2012 to 2022, the share of Thailand and Taiwan (Chinese) increased by +5.1 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest compounds with other nitrogen function supplier in Asia, comprising 63% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +7.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+37.7% per year) and Thailand (+46.2% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by 40% against the previous year. Over the period under review, the export price recorded strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Thailand ($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 (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports in Asia

In 2022, supplies from abroad of compounds with other nitrogen function (excluding isocyanates) increased by 9.4% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of 9.6% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function imports reached $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +113.8% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 32%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Turkey (X tons), Pakistan (X tons), Japan (X tons), Kyrgyzstan (X tons), Myanmar (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), Vietnam (X tons), India (X tons), Uzbekistan (X tons), Bangladesh (X tons) and Thailand (X tons) represented roughly 88% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kyrgyzstan (with a CAGR of +104.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) in Asia, comprising 36% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Turkey, with a 9.6% share.

In Japan, compounds with other nitrogen function imports increased at an average annual rate of +14.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+1.6% per year) and Turkey (+21.3% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 an increase of 30%. The level of import peaked at $X per ton in 2021, and then dropped modestly in the following year.

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 Japan ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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