Japan: Nitrogen Market 2024

Nitrogen Market Size in Japan

The Japanese nitrogen market reached $X in 2021, growing by 7.3% against the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Nitrogen Production in Japan

In value terms, nitrogen production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Nitrogen Exports

Exports from Japan

Nitrogen exports from Japan skyrocketed to X cubic meters in 2021, with an increase of 32,841% on 2020 figures. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrogen exports amounted to $X in 2021. Overall, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -22.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 58% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Panama (X cubic meters) was the main destination for nitrogen exports from Japan, with a 99% share of total exports. It was followed by Taiwan (Chinese) (X cubic meters), with a 0.5% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Panama was relatively modest.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for nitrogen exports from Japan, comprising 22% of total exports. The second position in the ranking was held by Panama ($X), with a 1.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Taiwan (Chinese) totaled +3.7%.

Export Prices by Country

The average nitrogen export price stood at $X per cubic meter in 2021, dropping by -99.7% against the previous year. In general, the export price showed a sharp decrease. The most prominent rate of growth was recorded in 2014 when the average export price increased by 70%. The export price peaked at $X per cubic meter in 2020, and then contracted dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per cubic meter), while the average price for exports to Panama stood at less than $X per cubic meter.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-0.0%).

Nitrogen Imports

Imports into Japan

After two years of growth, overseas purchases of nitrogen decreased by -39.1% to X cubic meters in 2021. Overall, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of 151,956% against the previous year. As a result, imports reached the peak of X cubic meters. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, nitrogen imports reduced markedly to $X in 2021. In general, imports saw a perceptible curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 2,046% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X cubic meters) constituted the largest nitrogen supplier to Japan, with a 67% share of total imports. Moreover, nitrogen imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X cubic meters), threefold.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-14.3% per year) and China (+29.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of nitrogen to Japan, comprising 27% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+31.5% per year) and China (-8.5% per year).

Import Prices by Country

The average nitrogen import price stood at $X per cubic meter in 2021, growing by 16% against the previous year. Over the period under review, the import price, however, saw a precipitous shrinkage. The pace of growth was the most pronounced in 2018 an increase of 10,041% against the previous year. Over the period under review, average import prices attained the maximum at $X per cubic meter in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per cubic meter), while the price for China ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+53.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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