Asia: Fertilizer Market 2024

Fertilizer Market Size in Asia

In 2022, after two years of decline, there was significant growth in the Asian fertilizer market, when its value increased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, 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.

Fertilizer Production in Asia

In value terms, fertilizer production declined slightly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Fertilizer Exports

Exports in Asia

After five years of growth, overseas shipments of fertilizers decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, fertilizer exports totaled $X in 2022. In general, exports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China was the major exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by Saudi Arabia (X tons) and Oman (X tons), together mixing up a X% share of total exports. Iran (X tons), Malaysia (X tons), Indonesia (X tons), Turkey (X tons), Jordan (X tons), South Korea (X tons), Vietnam (X tons), Israel (X tons) and Turkmenistan (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fertilizer exports from China stood at X%. At the same time, Turkmenistan (X%), Turkey (X%), Malaysia (X%), Saudi Arabia (X%), Indonesia (X%), Oman (X%) and Israel (X%) displayed positive paces of growth. Moreover, Turkmenistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Jordan, Iran and Vietnam experienced a relatively flat trend pattern. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.), Turkey (X p.p.), Turkmenistan (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest fertilizer supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Jordan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. In general, the export price saw a mild expansion. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Fertilizer Imports

Imports in Asia

In 2022, approx. X tons of fertilizers were imported in Asia; jumping by X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer imports surged to $X in 2022. In general, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons) represented the largest importer of fertilizers, constituting X% of total imports. China (X tons) held the second position in the ranking, followed by Indonesia (X tons), Turkey (X tons), Malaysia (X tons) and Thailand (X tons). All these countries together took near X% share of total imports. The following importers - Vietnam (X tons), South Korea (X tons), Bangladesh (X tons), the Philippines (X tons), Japan (X tons), Pakistan (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%), South Korea (X%), Turkey (X%), Indonesia (X%), China (X%), Malaysia (X%), the Philippines (X%), Bangladesh (X%) and Japan (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Pakistan and Thailand experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported fertilizers in Asia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by Indonesia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and Indonesia (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :