Singapore: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Singapore

The Singaporean nitrogenous fertilizer market soared to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Nitrogenous Fertilizer Production in Singapore

In value terms, nitrogenous fertilizer production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Nitrogenous Fertilizer Exports

Exports from Singapore

In 2022, approx. X tons of nitrogenous fertilizers (mineral or chemical) were exported from Singapore; dropping by X% compared with the previous year. Over the period under review, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped remarkably in the following year.

In value terms, nitrogenous fertilizer exports shrank significantly to $X in 2022. In general, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Malaysia (X tons) was the main destination for nitrogenous fertilizer exports from Singapore, accounting for a X% share of total exports. Moreover, nitrogenous fertilizer exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for nitrogenous fertilizers (mineral or chemical) exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

The average nitrogenous fertilizer export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price showed a noticeable downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Malaysia ($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 Indonesia (X%), while the prices for the other major destinations experienced a decline.

Nitrogenous Fertilizer Imports

Imports into Singapore

In 2022, imports of nitrogenous fertilizers (mineral or chemical) into Singapore reached X tons, growing by X% compared with the previous year. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, nitrogenous fertilizer imports surged to $X in 2022. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Malaysia (X tons) and Saudi Arabia (X tons) were the main suppliers of nitrogenous fertilizer imports to Singapore, with a combined X% share of total imports.

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

In value terms, Malaysia ($X), China ($X) and South Korea ($X) were the largest nitrogenous fertilizer suppliers to Singapore, with a combined X% share of total imports. Saudi Arabia, Indonesia, Germany and Belgium lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average nitrogenous fertilizer import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrogenous fertilizer import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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