Asia-Pacific: Ammonia Market 2024

Ammonia Market Size in Asia-Pacific

The Asia-Pacific ammonia market shrank to $X in 2022, falling by -3.2% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Ammonia Production in Asia-Pacific

In value terms, ammonia production fell to $X in 2022 estimated in export price. Overall, production, however, enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 115%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Ammonia Exports

Exports in Asia-Pacific

In 2022, the amount of anhydrous ammonia exported in Asia-Pacific dropped to X tons, shrinking by -11.2% on 2021 figures. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when exports increased by 21% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, ammonia exports skyrocketed to $X in 2022. In general, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 129%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Indonesia was the key exporter of anhydrous ammonia in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 66% of total exports in 2022. Malaysia (X tons) ranks second in terms of the total exports with a 19% share, followed by Australia (11%). Bangladesh (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the anhydrous ammonia exports, with a CAGR of +5.5% from 2012 to 2022. At the same time, Bangladesh (+5.1%) and Malaysia (+1.7%) displayed positive paces of growth. By contrast, Australia (-5.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia increased by +17 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest ammonia supplier in Asia-Pacific, comprising 83% of total exports. The second position in the ranking was held by Malaysia ($X), with a 7.5% share of total exports. It was followed by Australia, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia totaled +17.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.6% per year) and Australia (-2.3% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, jumping by 119% against the previous year. In general, the export price continues to indicate resilient growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.8%), while the other leaders experienced mixed trends in the export price figures.

Ammonia Imports

Imports in Asia-Pacific

In 2022, imports of anhydrous ammonia in Asia-Pacific contracted to X tons, dropping by -13.8% against the year before. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, ammonia imports surged to $X in 2022. In general, imports, however, posted perceptible growth. The growth pace was the most rapid in 2021 when imports increased by 90% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) represented the largest importer of anhydrous ammonia, achieving 40% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 22% share, followed by Taiwan (Chinese) (10%), Bangladesh (5.5%), Thailand (5.4%), China (5.3%) and Japan (4.6%). Singapore (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported anhydrous ammonia in Asia-Pacific, comprising 53% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by Thailand, with a 7.4% share.

In India, ammonia imports increased at an average annual rate of +6.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+4.1% per year) and Thailand (+3.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by 37% against the previous year. Over the period under review, the import price recorded mild growth. The most prominent rate of growth was recorded in 2021 an increase of 67% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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