China: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2024

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in China

The Chinese market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution reduced dramatically to $X in 2022, with a decrease of -38.3% against the previous year. Over the period under review, consumption, however, recorded a remarkable increase. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in China

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution dropped markedly to $X in 2022 estimated in export price. In general, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 342% against the previous year. Over the period under review, production of attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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

Exports from China

In 2022, overseas shipments of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution decreased by -5.3% to X tons, falling for the seventh year in a row after two years of growth. Overall, exports continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2014 when exports increased by 16,607%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution skyrocketed to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 12,587% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X tons), New Zealand (X tons) and Sudan (X tons) were the main destinations of exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution from China, with a combined 88% share of total exports. These countries were followed by Jordan, India and Japan, which together accounted for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +71.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exported from China were Australia ($X), New Zealand ($X) and Sudan ($X), together comprising 85% of total exports. These countries were followed by Jordan, India and Japan, which together accounted for a further 15%.

Among the main countries of destination, Japan, with a CAGR of +91.4%, 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

The average export price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution stood at $X per ton in 2022, increasing by 58% against the previous year. In general, the export price showed a noticeable increase. 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to New Zealand ($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 India (+34.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into China

In 2022, overseas purchases of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution decreased by -26% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by 842% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution contracted sharply to $X in 2022. In general, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 825% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) was the main mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution supplier to China, accounting for a 93% share of total imports. Moreover, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution from Russia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled +25.6%.

In value terms, Russia ($X) constituted the largest supplier of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution to China, comprising 91% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Russia stood at +21.9%.

Import Prices by Country

The average import price for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution stood at $X per ton in 2022, waning by -4.2% against the previous year. Overall, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2021 an increase of 15%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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