Asia-Pacific: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Asia-Pacific

The Asia-Pacific ammonium nitrate market soared to $X in 2021, growing by 18% against the previous year. Over the period under review, consumption, however, recorded a deep downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ammonium Nitrate Production in Asia-Pacific

In value terms, ammonium nitrate production declined modestly to $X in 2021 estimated in export price. In general, production continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 6.2% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ammonium Nitrate Exports

Exports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded decline in shipments abroad of ammonium nitrate, which decreased by -29.2% to X tons in 2021. Over the period under review, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 34%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, ammonium nitrate exports reduced to $X in 2021. Overall, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2018 when exports increased by 30% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, South Korea (X tons), distantly followed by Vietnam (X tons), China (X tons), Singapore (X tons), Indonesia (X tons) and Thailand (X tons) represented the key exporters of ammonium nitrate, together committing 93% of total exports. India (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +49.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium nitrate supplying countries in Asia-Pacific were South Korea ($X), Vietnam ($X) and China ($X), together comprising 66% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +51.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, rising by 21% against the previous year. Overall, the export price, however, recorded a mild decline. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.8%), while the other leaders experienced mixed trends in the export price figures.

Ammonium Nitrate Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of ammonium nitrate decreased by -3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ammonium nitrate imports surged to $X in 2021. In general, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 23%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India represented the largest importing country with an import of around X tons, which reached 35% of total imports. Australia (X tons) held the second position in the ranking, followed by Vietnam (X tons), Malaysia (X tons), Papua New Guinea (X tons) and South Korea (X tons). All these countries together held near 35% share of total imports. The following importers - Thailand (X tons), China (X tons), the Philippines (X tons), Indonesia (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Pakistan (X tons) - together made up 23% of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of ammonium nitrate. At the same time, Pakistan (+12.9%), the Philippines (+6.9%), Thailand (+4.0%) and Papua New Guinea (+3.2%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +12.9% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Vietnam (-4.9%), China (-8.1%), South Korea (-13.1%), Malaysia (-14.3%), Australia (-14.5%), Taiwan (Chinese) (-14.6%) and Indonesia (-25.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India, Papua New Guinea, Thailand, the Philippines, Vietnam, Pakistan and Japan increased by +20, +3.5, +2.9, +2.5, +2.2, +2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported ammonium nitrate in Asia-Pacific, comprising 31% of total imports. The second position in the ranking was held by Australia ($X), with a 10% share of total imports. It was followed by Vietnam, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India was relatively modest. In the other countries, the average annual rates were as follows: Australia (-15.6% per year) and Vietnam (-6.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 22% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+22.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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