Japan: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Japan

The Japanese potassium nitrate market fell to $X in 2022, remaining stable against the previous year. In general, consumption, however, recorded a pronounced decrease. Potassium nitrate consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Potassium Nitrate Production in Japan

In value terms, potassium nitrate production declined modestly to $X in 2022 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when the production volume increased by 19%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Potassium Nitrate Exports

Exports from Japan

In 2022, after two years of decline, there was significant growth in overseas shipments of potassium nitrates, when their volume increased by 70% to X tons. In general, exports, however, showed a abrupt setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, potassium nitrate exports soared to $X in 2022. Overall, exports, however, saw a abrupt descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), South Korea (X tons) and Vietnam (X tons) were the main destinations of potassium nitrate exports from Japan, with a combined 90% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +13.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X) emerged as the key foreign market for potassium nitrates exports from Japan, comprising 53% of total exports. The second position in the ranking was taken by South Korea ($X), with a 24% 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 Indonesia totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-12.9% per year) and Vietnam (-16.0% per year).

Export Prices by Country

The average potassium nitrate export price stood at $X per ton in 2022, picking up by 4.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 61%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Hong Kong SAR ($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 the Philippines (+6.3%), while the prices for the other major destinations experienced mixed trend patterns.

Potassium Nitrate Imports

Imports into Japan

Potassium nitrate imports into Japan surged to X tons in 2022, increasing by 25% against 2021 figures. In general, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, potassium nitrate imports skyrocketed to $X in 2022. Overall, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of potassium nitrate to Japan, with a 71% share of total imports. Moreover, potassium nitrate imports from China exceeded the figures recorded by the second-largest supplier, Chile (X tons), fivefold. The third position in this ranking was held by Jordan (X tons), with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+14.7% per year) and Jordan (+17.1% per year).

In value terms, China ($X) constituted the largest supplier of potassium nitrates to Japan, comprising 70% of total imports. The second position in the ranking was taken by Chile ($X), with a 16% share of total imports. It was followed by Jordan, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+18.7% per year) and Jordan (+22.0% per year).

Import Prices by Country

The average potassium nitrate import price stood at $X per ton in 2022, increasing by 53% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium nitrate import price increased by +60.9% against 2020 indices. As a result, import price attained 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 highest price was recorded for prices from Chile ($X per ton) and South Korea ($X per ton), while the price for China ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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