Report Update Nov 1, 2024

Republic of Korea - Anhydrous Ammonia - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Ammonia Market 2024

Ammonia Exports

Exports from Republic of Korea

In 2022, approx. X tons of anhydrous ammonia were exported from South Korea; jumping by 64% against the year before. Overall, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 128% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ammonia exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2019 with an increase of 72%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for ammonia exports from South Korea, with a 90% share of total exports. Moreover, ammonia exports to Japan exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled -15.0%.

In value terms, Japan ($X) and China ($X) constituted the largest markets for ammonia exported from South Korea worldwide.

China, with a CAGR of -9.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average ammonia export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 96% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.1%).

Ammonia Imports

Imports into Republic of Korea

Ammonia imports into South Korea contracted markedly to X tons in 2022, which is down by -20.7% on the previous year's figure. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.3% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 77% against the previous year. Imports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, ammonia imports reduced rapidly to $X in 2022. In general, imports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of 125%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

Indonesia (X tons), Saudi Arabia (X tons) and Egypt (X tons) were the main suppliers of ammonia imports to South Korea, together accounting for 82% of total imports. These countries were followed by Australia, Malaysia, the United States and Oman, which together accounted for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +182.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constituted the largest supplier of anhydrous ammonia to South Korea, comprising 52% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total imports. It was followed by Malaysia, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-0.6% per year) and Malaysia (+15.3% per year).

Import Prices by Country

In 2022, the average ammonia import price amounted to $X per ton, which is down by -9% against the previous year. Over the period under review, the import price saw a mild contraction. The growth pace was the most rapid in 2021 an increase of 69%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for anhydrous ammonia in the world?

China remains the largest ammonia consuming country worldwide, comprising approx. 29% of total volume. Moreover, ammonia consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by India, with an 8.8% share.

What are the largest producers of anhydrous ammonia in the world?

The country with the largest volume of ammonia production was China, accounting for 28% of total volume. Moreover, ammonia production in China exceeded the figures recorded by the second-largest producer, Russia, threefold. The third position in this ranking was occupied by the United States, with an 8.3% share.

What are the leading suppliers of anhydrous ammonia to Republic of Korea?

In value terms, the largest ammonia suppliers to South Korea were Indonesia, Saudi Arabia and Oman, together accounting for 79% of total imports.

What are the leading importers of anhydrous ammonia from Republic of Korea?

In value terms, Japan and China appeared to be the largest markets for ammonia exported from South Korea worldwide.

What is the average export price for anhydrous ammonia in Republic of Korea?

In 2020, the average ammonia export price amounted to $745 per ton, shrinking by -6.8% against the previous year.

What is the average import price for anhydrous ammonia in Republic of Korea?

In 2020, the average ammonia import price amounted to $272 per ton, waning by -6% against the previous year.

This report provides an in-depth analysis of the ammonia market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20151075 - Anhydrous ammonia

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023