Japan: Ammonia Market 2024

Ammonia Market Size in Japan

The Japanese ammonia market shrank modestly to $X in 2022, dropping by -4.6% against the previous year. Overall, consumption, however, recorded a mild downturn. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Ammonia Production in Japan

In value terms, ammonia production reduced markedly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 276%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Ammonia Exports

Exports from Japan

In 2022, ammonia exports from Japan shrank to X tons, declining by -10.2% against 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 35%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, ammonia exports totaled $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 148% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for ammonia exports from Japan, accounting for a 85% share of total exports. Moreover, ammonia exports to China exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-3.4% per year) and South Korea (-19.9% per year).

In value terms, China ($X) remains the key foreign market for anhydrous ammonia exports from Japan, comprising 87% of total exports. The second position in the ranking was taken by Singapore ($X), with a 6.4% share of total exports. It was followed by South Korea, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-5.6% per year) and South Korea (-21.4% per year).

Export Prices by Country

The average ammonia export price stood at $X per ton in 2022, with an increase of 13% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 164%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.9%), while the prices for the other major destinations experienced a decline.

Ammonia Imports

Imports into Japan

In 2022, supplies from abroad of anhydrous ammonia increased by 12% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 45% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ammonia imports skyrocketed to $X in 2022. Over the period under review, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest ammonia supplier to Japan, accounting for a 78% share of total imports. Moreover, ammonia imports from Indonesia exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Indonesia totaled +2.6%.

In value terms, Indonesia ($X) constituted the largest supplier of anhydrous ammonia to Japan, comprising 77% of total imports. The second position in the ranking was taken by Australia ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia stood at +6.7%.

Import Prices by Country

In 2022, the average ammonia import price amounted to $X per ton, with an increase of 93% against the previous year. In general, the import price enjoyed notable growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Indonesia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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