Asia-Pacific: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Asia-Pacific

The Asia-Pacific monoammonium phosphate market skyrocketed to $X in 2022, picking up by 17% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Monoammonium Phosphate Production in Asia-Pacific

In value terms, monoammonium phosphate production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Monoammonium Phosphate Exports

Exports in Asia-Pacific

After two years of growth, shipments abroad of monoammonium phosphate (MAP) decreased by -45.3% to X tons in 2022. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 232% against the previous year. The volume of export peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, monoammonium phosphate exports reduced to $X in 2022. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 253%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

China (X tons) represented roughly 98% of total exports in 2022.

China was also the fastest-growing in terms of the monoammonium phosphate (MAP) exports, with a CAGR of +13.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest monoammonium phosphate supplier in Asia-Pacific.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +19.8%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 65% against the previous year. Overall, the export price enjoyed a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +5.8% per year.

Monoammonium Phosphate Imports

Imports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in purchases abroad of monoammonium phosphate (MAP), which increased by 13% to X tons in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +23.6% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 40%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

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

Imports by Country

Australia was the largest importer of monoammonium phosphate (MAP) in Asia-Pacific, with the volume of imports amounting to X tons, which was near 59% of total imports in 2022. India (X tons) took the second position in the ranking, distantly followed by Japan (X tons). All these countries together took near 27% share of total imports. The following importers - Malaysia (X tons), Indonesia (X tons) and Pakistan (X tons) - together made up 8% of total imports.

From 2012 to 2022, average annual rates of growth with regard to monoammonium phosphate imports into Australia stood at +6.5%. At the same time, Pakistan (+22.0%), India (+7.3%), Malaysia (+5.5%) and Indonesia (+4.0%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.0% from 2012-2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Australia and India increased by +6.9 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in Asia-Pacific, comprising 61% of total imports. The second position in the ranking was taken by India ($X), with a 23% share of total imports. It was followed by Japan, with a 7.9% share.

In Australia, monoammonium phosphate imports expanded at an average annual rate of +11.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (+13.0% per year) and Japan (+6.3% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, with an increase of 56% against the previous year. Over the period under review, the import price continues to indicate a noticeable expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Malaysia ($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 (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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