China: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in China

The Chinese market for compounds with other nitrogen function (excluding isocyanates) contracted modestly to $X in 2022, dropping by -3.1% against the previous year. In general, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2021, and then contracted slightly in the following year.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in China

In value terms, compounds with other nitrogen function production declined slightly to $X in 2022 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.5% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 24%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from China

After two years of decline, shipments abroad of compounds with other nitrogen function (excluding isocyanates) increased by 1.8% to X tons in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.7% against 2017 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 65%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function exports skyrocketed to $X in 2022. In general, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +38.3% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 51% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

India (X tons), Brazil (X tons) and the United States (X tons) were the main destinations of compounds with other nitrogen function exports from China, together comprising 52% of total exports. Germany, South Africa, Pakistan, Myanmar, Turkey, Nigeria, the Netherlands, Canada, Russia and Argentina lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +31.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for compounds with other nitrogen function exported from China were Brazil ($X), India ($X) and the United States ($X), together comprising 62% of total exports. Germany, South Africa, Pakistan, the Netherlands, Myanmar, Turkey, Nigeria, Russia, Argentina and Canada lagged somewhat behind, together accounting for a further 19%.

In terms of the main countries of destination, Nigeria, with a CAGR of +36.3%, saw the highest growth rate of 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 2022, the average export price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, growing by 34% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, compounds with other nitrogen function export price increased by +38.5% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into China

In 2022, the amount of compounds with other nitrogen function (excluding isocyanates) imported into China contracted remarkably to X tons, which is down by -37.6% on 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 46% against the previous year. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, compounds with other nitrogen function imports skyrocketed to $X in 2022. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 202% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest compounds with other nitrogen function supplier to China, with a 50% share of total imports. Moreover, compounds with other nitrogen function imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+13.4% per year) and South Korea (+10.9% per year).

In value terms, South Korea ($X) constituted the largest supplier of compounds with other nitrogen function (excluding isocyanates) to China, comprising 66% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Japan, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.5% per year) and Japan (+10.8% per year).

Import Prices by Country

The average import price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, growing by 227% against the previous year. Overall, the import price continues to indicate strong growth. As a result, import 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 importers, the country with the highest price was South Korea ($X per ton), while the price for the Netherlands ($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 (+31.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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