Myanmar: Nitrogen Market 2024

Nitrogen Market Size in Myanmar

The Myanmar's nitrogen market skyrocketed to $X in 2021, picking up by 24% against the previous year. Over the period under review, consumption posted a significant expansion. Nitrogen consumption peaked in 2021 and is likely to see gradual growth in the near future.

Nitrogen Production in Myanmar

In value terms, nitrogen production reached $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 74% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Nitrogen Exports

Exports from Myanmar

In 2021, after four years of growth, there was significant decline in shipments abroad of nitrogen, when their volume decreased by -18.2% to X cubic meters. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 534% against the previous year. Over the period under review, the exports attained the peak figure at X cubic meters in 2020, and then contracted remarkably in the following year.

In value terms, nitrogen exports contracted to $X in 2021. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 922%. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Thailand (X cubic meters) was the main destination for nitrogen exports from Myanmar, with a 8.8% share of total exports. Moreover, nitrogen exports to Thailand exceeded the volume sent to the second major destination, Singapore (X cubic meters), threefold.

From 2017 to 2021, the average annual rate of growth in terms of volume to Thailand was relatively modest.

In value terms, Thailand ($X) remains the key foreign market for nitrogen exports from Myanmar, comprising 8.8% of total exports. The second position in the ranking was taken by Singapore ($X), with a 3.5% share of total exports.

From 2017 to 2021, the average annual growth rate of value to Thailand stood at +25.7%.

Export Prices by Country

The average nitrogen export price stood at $X per cubic meter in 2021, increasing by 12% against the previous year. In general, the export price posted significant growth. The growth pace was the most rapid in 2019 when the average export price increased by 73% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per cubic meter), while the average price for exports to Singapore stood at $X per cubic meter.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+264.7%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrogen Imports

Imports into Myanmar

Nitrogen imports into Myanmar fell notably to X cubic meters in 2021, reducing by -38.7% on 2020 figures. Overall, imports saw a sharp decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 975% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, nitrogen imports dropped remarkably to $X in 2021. In general, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 659% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X cubic meters) constituted the largest nitrogen supplier to Myanmar, with a 75% share of total imports. Moreover, nitrogen imports from Thailand exceeded the figures recorded by the second-largest supplier, Italy (X cubic meters), sixfold. Singapore (X cubic meters) ranked third in terms of total imports with a 9.9% share.

From 2014 to 2021, the average annual rate of growth in terms of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+16.9% per year) and Singapore (-42.3% per year).

In value terms, Thailand ($X) constituted the largest supplier of nitrogen to Myanmar, comprising 74% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Singapore, with a 10% share.

From 2014 to 2021, the average annual rate of growth in terms of value from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+20.3% per year) and Singapore (-31.0% per year).

Import Prices by Country

In 2021, the average nitrogen import price amounted to $X per cubic meter, declining by -13% against the previous year. Over the period under review, the import price, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 an increase of 217% against the previous year. The import price peaked at $X per cubic meter in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Italy ($X per cubic meter) and China ($X per cubic meter), while the price for Thailand ($X per cubic meter) and Singapore ($X per cubic meter) were amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was attained by China (+39.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :