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

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

The Iranian market for compounds with other nitrogen function (excluding isocyanates) shrank to $X in 2022, dropping by -8.7% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -24.0% against 2019 indices. As a result, consumption reached 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 Iran

In value terms, compounds with other nitrogen function production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -23.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 65% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Iran

In 2022, overseas shipments of compounds with other nitrogen function (excluding isocyanates) decreased by -5.7% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed buoyant growth. The growth pace was the most rapid in 2016 when exports increased by 128% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, compounds with other nitrogen function exports fell to $X in 2022. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 108% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for compounds with other nitrogen function exports from Iran, with a 93% share of total exports. Moreover, compounds with other nitrogen function exports to Turkey exceeded the volume sent to the second major destination, India (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to +10.1%.

In value terms, Turkey ($X) remains the key foreign market for compounds with other nitrogen function (excluding isocyanates) exports from Iran, comprising 92% of total exports. The second position in the ranking was taken by India ($X), with an 8.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at +7.5%.

Export Prices by Country

In 2022, the average export price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+0.9%).

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Iran

In 2022, after three years of decline, there was significant growth in purchases abroad of compounds with other nitrogen function (excluding isocyanates), when their volume increased by 663% to X tons. Overall, imports, however, recorded a deep reduction. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, compounds with other nitrogen function imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep contraction. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Poland (X tons) were the main suppliers of compounds with other nitrogen function imports to Iran, with a combined 92% share of total imports. Germany and South Korea lagged somewhat behind, together comprising a further 5.9%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +38.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest compounds with other nitrogen function suppliers to Iran were China ($X), Poland ($X) and the United Arab Emirates ($X), with a combined 72% share of total imports. Germany and South Korea lagged somewhat behind, together comprising a further 11%.

In terms of the main suppliers, Germany, with a CAGR of +31.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, with an increase of 9.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 20% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for the United Arab Emirates ($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 (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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