Japan: Monoammonium Phosphate Market 2024

Monoammonium Phosphate Market Size in Japan

The Japanese monoammonium phosphate market surged to $X in 2022, jumping by 69% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.3% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Monoammonium Phosphate Exports

Exports from Japan

In 2022, the amount of monoammonium phosphate (MAP) exported from Japan rose notably to X tons, with an increase of 6.3% compared with the previous year. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 1,179% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, monoammonium phosphate exports surged to $X in 2022. Overall, exports recorded a measured expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,146%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for monoammonium phosphate exports from Japan, accounting for a 65% share of total exports. Moreover, monoammonium phosphate exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, the United States (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) totaled +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.9% per year) and Vietnam (0.0% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for monoammonium phosphate (MAP) exports from Japan, comprising 68% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) amounted to +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.6% per year) and Vietnam (+9.8% per year).

Export Prices by Country

In 2022, the average monoammonium phosphate export price amounted to $X per ton, increasing by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Vietnam ($X per ton), while the average price for exports to the United States ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Monoammonium Phosphate Imports

Imports into Japan

In 2022, overseas purchases of monoammonium phosphate (MAP) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 19% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, monoammonium phosphate imports surged to $X in 2022. In general, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Morocco (X tons) were the main suppliers of monoammonium phosphate imports to Japan, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +12.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of monoammonium phosphate (MAP) to Japan, comprising 51% of total imports. The second position in the ranking was held by the United States ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.1% per year) and Morocco (0.0% per year).

Import Prices by Country

The average monoammonium phosphate import price stood at $X per ton in 2022, rising by 85% against the previous year. Overall, the import price enjoyed a prominent increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($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 (+5.5%).

Source: IndexBox Platform

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