Asia: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Asia

In 2022, the Asian diammonium phosphate market increased by 29% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Diammonium Phosphate Production in Asia

In value terms, diammonium phosphate production shrank to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Diammonium Phosphate Exports

Exports in Asia

In 2022, shipments abroad of diammonium phosphate decreased by -26.8% to X tons, falling for the fourth consecutive year after two years of growth. Total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -39.4% against 2018 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 55% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, diammonium phosphate exports shrank to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.8% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 58%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons) represented the major exporter of diammonium phosphate, mixing up 57% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a 36% share of total exports. The following exporters - Vietnam (X tons) and Turkey (X tons) - each resulted at a 4.4% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +11.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest diammonium phosphate supplier in Asia, comprising 71% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 23% share of total exports. It was followed by Turkey, with a 2.8% share.

In China, diammonium phosphate exports expanded at an average annual rate of +3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+9.7% per year) and Turkey (+10.8% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by 25% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, diammonium phosphate export price increased by +107.1% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 66% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Vietnam ($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 (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Diammonium Phosphate Imports

Imports in Asia

In 2022, approx. X tons of diammonium phosphate were imported in Asia; growing by 15% on the previous year. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 36%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, diammonium phosphate imports soared to $X in 2022. Over the period under review, imports posted a temperate increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India prevails in imports structure, recording X tons, which was approx. 64% of total imports in 2022. Bangladesh (X tons) ranks second in terms of the total imports with a 9.4% share, followed by Pakistan (6%), Indonesia (4.8%) and Vietnam (4.5%). Japan (X tons) and Turkey (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, Bangladesh (+10.1%), Indonesia (+9.0%) and Japan (+3.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of +10.1% from 2012-2022. Pakistan experienced a relatively flat trend pattern. By contrast, Vietnam (-4.5%) and Turkey (-4.9%) illustrated a downward trend over the same period. While the share of Bangladesh (+5.3 p.p.), Indonesia (+2.5 p.p.) and India (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (-2 p.p.) and Vietnam (-3.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diammonium phosphate in Asia, comprising 70% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 6.2% share of total imports. It was followed by Pakistan, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+9.3% per year) and Pakistan (+2.1% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by 34% against the previous year. In general, the import price showed a perceptible expansion. The growth pace was the most rapid in 2021 when the import price increased by 75% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :