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

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

The East Asian market for compounds with other nitrogen function (excluding isocyanates) contracted to $X in 2022, which is down by -11.7% against the previous year. Overall, consumption, however, enjoyed a resilient increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

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

In value terms, compounds with other nitrogen function production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 70%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports in Eastern Asia

In 2022, shipments abroad of compounds with other nitrogen function (excluding isocyanates) increased by 2.6% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% 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 -14.8% against 2017 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 64% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, compounds with other nitrogen function exports surged to $X in 2022. Over the period under review, exports showed a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 48% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 96% of total exports in 2022. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +2.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+45.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +45.5% from 2012-2022. Taiwan (Chinese) (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -2.8% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest compounds with other nitrogen function supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +7.2%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with an increase of 41% against the previous year. In general, the export price enjoyed a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.5%).

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports in Eastern Asia

In 2022, purchases abroad of compounds with other nitrogen function (excluding isocyanates) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.2% 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 appeared the most rapid in 2014 with an increase of 57%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function imports declined modestly to $X in 2022. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined slightly in the following year.

Imports by Country

Japan represented the largest importer of compounds with other nitrogen function (excluding isocyanates) in Eastern Asia, with the volume of imports reaching X tons, which was approx. 43% of total imports in 2022. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with a 25% share, followed by South Korea (21%). Hong Kong SAR (X tons), China (X tons) and Democratic People's Republic of Korea (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of +28.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) in Eastern Asia, comprising 50% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by South Korea, with a 17% share.

In Japan, compounds with other nitrogen function imports increased at an average annual rate of +14.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+18.4% per year) and South Korea (+1.6% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by -2% against the previous year. Overall, the import price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2021 an increase of 33% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($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 (+17.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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