Eastern Asia: Fertilizer Market 2024

Fertilizer Market Size in Eastern Asia

The East Asian fertilizer market expanded sharply to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fertilizer Production in Eastern Asia

In value terms, fertilizer production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Fertilizer Exports

Exports in Eastern Asia

After five years of growth, overseas shipments of fertilizers decreased by X% to X tons in 2022. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, fertilizer exports amounted to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

China prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by South Korea (X tons), achieving a X% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest fertilizer supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

In China, fertilizer exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Fertilizer Imports

Imports in Eastern Asia

In 2022, after two years of decline, there was significant growth in purchases abroad of fertilizers, when their volume increased by X% to X tons. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fertilizer imports soared to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importing country with an import of around X tons, which accounted for X% of total imports. South Korea (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%) and Taiwan (Chinese) (X%).

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of South Korea and Taiwan (Chinese) increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported fertilizers in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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