Asia: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Asia

The Asian nitrogenous fertilizer market surged to $X in 2022, picking up by X% against the previous year. 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 in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Nitrogenous Fertilizer Production in Asia

In value terms, nitrogenous fertilizer production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Nitrogenous Fertilizer Exports

Exports in Asia

In 2022, after five years of growth, there was significant decline in overseas shipments of nitrogenous fertilizers (mineral or chemical), when their volume decreased by X% to X tons. 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 in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, nitrogenous fertilizer exports stood at $X in 2022. In general, exports, however, continue to indicate a temperate increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

China represented the main exporting country with an export of around X tons, which resulted at X% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with an X% share, followed by Oman (X%), Iran (X%), Malaysia (X%) and Indonesia (X%). Turkey (X tons), Turkmenistan (X tons), Bahrain (X tons) and South Korea (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkmenistan (X%), Turkey (X%), Malaysia (X%), Indonesia (X%), Bahrain (X%), Oman (X%) and Saudi Arabia (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. Iran experienced a relatively flat trend pattern. By contrast, South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Turkey, Malaysia and Turkmenistan increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

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

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

Nitrogenous Fertilizer Imports

Imports in Asia

In 2022, the amount of nitrogenous fertilizers (mineral or chemical) imported in Asia skyrocketed to X tons, growing by X% compared with 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 in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, nitrogenous fertilizer imports soared to $X in 2022. Over the period under review, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the largest importing country with an import of about X tons, which finished at X% of total imports. Turkey (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%). The following importers - Vietnam (X tons), the Philippines (X tons), Malaysia (X tons), South Korea (X tons), Indonesia (X tons), Pakistan (X tons), Bangladesh (X tons) and Sri Lanka (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to nitrogenous fertilizer imports into India stood at X%. At the same time, Sri Lanka (X%), Turkey (X%), South Korea (X%), the Philippines (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Pakistan (X%), Vietnam (X%), Indonesia (X%) and Thailand (X%) illustrated a downward trend over the same period. India (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Pakistan, Indonesia, Vietnam and Thailand saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In India, nitrogenous fertilizer imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, jumping by X% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrogenous fertilizer import price increased by X% against 2020 indices. The pace of growth appeared 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 peak figure in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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