Eastern Asia: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Eastern Asia

In 2022, after two years of decline, there was significant growth in the East Asian monoammonium phosphate market, when its value increased by 14% to $X. The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Monoammonium Phosphate Production in Eastern Asia

In value terms, monoammonium phosphate production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Monoammonium Phosphate Exports

Exports in Eastern Asia

In 2022, overseas shipments of monoammonium phosphate (MAP) decreased by -45.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 228%. Over the period under review, the exports attained the maximum at X tons in 2021, and then declined remarkably in the following year.

In value terms, monoammonium phosphate exports shrank to $X in 2022. Overall, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 251%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

The shipments of the one major exporters of monoammonium phosphate (MAP), namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the monoammonium phosphate (MAP) exports, with a CAGR of +13.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest monoammonium phosphate supplier in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +19.8%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 66% against the previous year. Overall, the export price recorded a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +5.8% per year.

Monoammonium Phosphate Imports

Imports in Eastern Asia

In 2022, overseas purchases of monoammonium phosphate (MAP) were finally on the rise to reach X tons after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 45%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, monoammonium phosphate imports soared to $X in 2022. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) represented the largest importer of monoammonium phosphate (MAP), comprising 77% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 20% share of total imports. South Korea (X tons) took a relatively small share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of monoammonium phosphate (MAP). At the same time, South Korea (+17.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +17.1% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. South Korea (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported monoammonium phosphate (MAP) in Eastern Asia, comprising 89% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 7.5% share of total imports.

In Japan, monoammonium phosphate imports expanded at an average annual rate of +6.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.0% per year) and South Korea (+16.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by 65% against the previous year. Over the period under review, the import price enjoyed a tangible expansion. 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 destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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 (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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