Malaysia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Malaysia

After two years of decline, the Malaysian ammonium nitrate market increased by 52% to $X in 2021. Over the period under review, consumption, however, recorded a deep downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ammonium Nitrate Exports

Exports from Malaysia

In 2021, overseas shipments of ammonium nitrate decreased by -1.1% to X tons, falling for the seventh consecutive year after three years of growth. Over the period under review, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by 50% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, ammonium nitrate exports reduced to $X in 2021. In general, exports showed a significant contraction. The pace of growth was the most pronounced in 2013 when exports increased by 24% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for ammonium nitrate exports from Malaysia, with a 84% share of total exports. Moreover, ammonium nitrate exports to Australia exceeded the volume sent to the second major destination, Papua New Guinea (X tons), more than tenfold. The third position in this ranking was taken by Indonesia (X tons), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-30.8% per year) and Indonesia (-39.0% per year).

In value terms, Australia ($X) remains the key foreign market for ammonium nitrate exports from Malaysia, comprising 89% of total exports. The second position in the ranking was held by Vietnam ($X), with a 3.3% share of total exports. It was followed by Papua New Guinea, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia stood at +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-5.9% per year) and Papua New Guinea (-41.0% per year).

Export Prices by Country

In 2021, the average ammonium nitrate export price amounted to $X per ton, falling by -10.5% against the previous year. Over the period under review, the export price showed a deep slump. The pace of growth was the most pronounced in 2018 an increase of 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+31.3%), while the prices for the other major destinations experienced a decline.

Ammonium Nitrate Imports

Imports into Malaysia

In 2021, after three years of decline, there was significant growth in supplies from abroad of ammonium nitrate, when their volume increased by 14% to X tons. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 26%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, ammonium nitrate imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt downturn. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest supplier of ammonium nitrate to Malaysia, accounting for a 49% share of total imports. Moreover, ammonium nitrate imports from Ukraine exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ukraine totaled -14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-11.9% per year) and South Korea (+11.8% per year).

In value terms, Ukraine ($X), Russia ($X) and South Korea ($X) appeared to be the largest ammonium nitrate suppliers to Malaysia, with a combined 80% share of total imports. These countries were followed by Sweden, Vietnam, China, Indonesia and Switzerland, which together accounted for a further 12%.

Vietnam, with a CAGR of +43.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ammonium nitrate import price stood at $X per ton in 2021, surging by 44% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+36.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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