China: Nitrates Market 2025

Nitrates Market Size in China

In 2021, the Chinese nitrates market decreased by -3.9% to $X, falling for the second consecutive year after five years of growth. Overall, consumption, however, recorded a remarkable increase. Nitrates consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Nitrates Production in China

In value terms, nitrates production amounted to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.1% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 33%. Nitrates production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Nitrates Exports

Exports from China

In 2021, the amount of nitrates (excluding those of potassium) exported from China rose remarkably to X tons, with an increase of 9.5% on 2020 figures. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.4% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, nitrates exports soared to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Malaysia (X tons) and Japan (X tons) were the main destinations of nitrates exports from China, together comprising 42% of total exports. South Korea, Spain, Chile, Thailand, Peru, South Africa, Indonesia, Australia, Turkey and Vietnam lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +35.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nitrates exported from China were Japan ($X), Mexico ($X) and South Korea ($X), together comprising 42% of total exports. These countries were followed by Malaysia, Thailand, Spain, Chile, South Africa, Peru, Australia, Indonesia, Vietnam and Turkey, which together accounted for a further 35%.

Among the main countries of destination, Turkey, with a CAGR of +31.3%, recorded 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 2021, the average nitrates export price amounted to $X per ton, growing by 11% against the previous year. In general, the export price, however, showed a perceptible decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.5%), while the prices for the other major destinations experienced mixed trend patterns.

Nitrates Imports

Imports into China

Nitrates imports into China skyrocketed to X tons in 2021, increasing by 54% compared with 2020 figures. Overall, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrates imports skyrocketed to $X in 2021. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2015 when imports increased by 62% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Spain (X tons) and the United States (X tons) were the main suppliers of nitrates imports to China, together comprising 67% of total imports. These countries were followed by the UK, Japan, Russia and South Korea, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +187.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Belgium ($X) and Japan ($X) constituted the largest nitrates suppliers to China, together comprising 79% of total imports. Spain, the UK, Russia and South Korea lagged somewhat behind, together comprising a further 11%.

Russia, with a CAGR of +120.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nitrates import price amounted to $X per ton, with a decrease of -3.2% against the previous year. In general, the import price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 56%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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