Asia-Pacific: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2025

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in Asia-Pacific

For the third year in a row, the Asia-Pacific market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution recorded growth in sales value, which increased by 63% to $X in 2022. In general, consumption showed a strong increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in Asia-Pacific

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution reduced to $X in 2022 estimated in export price. Overall, production, however, enjoyed a temperate increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 783%. Over the period under review, production of attained the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports in Asia-Pacific

In 2022, overseas shipments of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution increased by 4.5% to X tons for the first time since 2015, thus ending a six-year declining trend. In general, exports, however, saw a perceptible setback. The pace of growth appeared the most rapid in 2014 with an increase of 4,312% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution skyrocketed to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 2,941%. Over the period under review, the exports of reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the major exporting country with an export of around X tons, which finished at 79% of total exports. It was distantly followed by India (X tons), creating a 16% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -3.7% from 2012 to 2022. At the same time, India (+8.6%) and Singapore (+4.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.6% from 2012-2022. While the share of India (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-7.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was taken by Singapore ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Singapore (+1.8% per year) and India (-10.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, growing by 25% against the previous year. Overall, the export price enjoyed tangible growth. The most prominent rate of growth was recorded in 2020 an increase of 27% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while India ($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 (+3.6%), while the other leaders experienced a decline in the export price figures.

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports in Asia-Pacific

In 2022, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in Asia-Pacific surged to X tons, picking up by 26% against 2021. Overall, imports saw a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 185%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution surged to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 179%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Australia dominates solution structure, resulting at X tons, which was approx. 89% of total imports in 2022. It was distantly followed by Myanmar (X tons), making up a 9.9% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution imports into Australia stood at +9.2%. At the same time, Myanmar (+22.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.0% from 2012-2022. Myanmar (+6.4 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -5.8% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in Asia-Pacific, comprising 99% of total imports. The second position in the ranking was held by Myanmar ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at +14.3%.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 47% against the previous year. Overall, the import price showed a moderate increase. The growth pace was the most rapid in 2021 an increase of 64% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Myanmar amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.7%).

Source: IndexBox Platform

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