Asia-Pacific: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Asia-Pacific

In 2022, the Asia-Pacific diammonium phosphate market increased by 34% to $X, rising for the second year in a row after two years of decline. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.2% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Diammonium Phosphate Production in Asia-Pacific

In value terms, diammonium phosphate production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 16% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Diammonium Phosphate Exports

Exports in Asia-Pacific

In 2022, approx. X tons of diammonium phosphate were exported in Asia-Pacific; with a decrease of -38.9% against the year before. Overall, exports saw a slight setback. The most prominent rate of growth was recorded in 2015 with an increase of 62% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, diammonium phosphate exports shrank to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 83%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporter of diammonium phosphate in Asia-Pacific, with the volume of exports amounting to X tons, which was near 84% of total exports in 2022. It was distantly followed by Australia (X tons), generating an 11% share of total exports. Vietnam (X tons) took a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of diammonium phosphate. At the same time, Australia (+1.2%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +1.2% from 2012-2022. By contrast, Vietnam (-5.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by +2.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest diammonium phosphate supplier in Asia-Pacific, comprising 85% of total exports. The second position in the ranking was taken by Australia ($X), with a 12% share of total exports.

In China, diammonium phosphate exports expanded at an average annual rate of +3.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+5.4% per year) and Vietnam (-8.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, rising by 53% against the previous year. Over the period under review, the export price recorded temperate growth. The most prominent rate of growth was recorded in 2021 when the export price increased by 68%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Diammonium Phosphate Imports

Imports in Asia-Pacific

In 2022, diammonium phosphate imports in Asia-Pacific expanded rapidly to X tons, increasing by 14% against 2021 figures. The total import volume increased at an average annual rate of +1.5% over the period 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 2015 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, diammonium phosphate imports soared to $X in 2022. In general, imports enjoyed a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

India dominates imports structure, accounting for X tons, which was approx. 64% of total imports in 2022. Bangladesh (X tons) took a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (6%), Indonesia (4.9%) and Vietnam (4.6%). The following importers - Japan (X tons) and New Zealand (X tons) - together made up 5.6% of total imports.

From 2012 to 2022, average annual rates of growth with regard to diammonium phosphate imports into India stood at +1.7%. At the same time, Bangladesh (+10.1%), Indonesia (+9.0%) and Japan (+3.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +10.1% from 2012-2022. New Zealand and Pakistan experienced a relatively flat trend pattern. By contrast, Vietnam (-4.5%) illustrated a downward trend over the same period. While the share of Bangladesh (+5.3 p.p.) and Indonesia (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diammonium phosphate in Asia-Pacific, comprising 70% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 6.2% share of total imports. It was followed by Pakistan, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +5.8%. In the other countries, the average annual rates were as follows: Bangladesh (+9.3% per year) and Pakistan (+2.1% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by 36% against the previous year. Over the period under review, the import price enjoyed a tangible increase. The most prominent rate of growth was recorded in 2021 when the import price increased by 74% against the previous year. The level of import peaked in 2022 and is expected to retain 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 New Zealand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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