South-Eastern Asia: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in South-Eastern Asia

The Southeast Asian ammonium nitrate market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, saw a deep downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Ammonium Nitrate Production in South-Eastern Asia

In value terms, ammonium nitrate production contracted to $X in 2021 estimated in export price. The total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +107.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 70%. The level of production peaked at $X in 2020, and then fell in the following year.

Ammonium Nitrate Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of ammonium nitrate decreased by -34.4% to X tons, falling for the second year in a row after four years of growth. In general, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2016 with an increase of 59%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, ammonium nitrate exports declined notably to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 35%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Vietnam (X tons) was the major exporter of ammonium nitrate, mixing up 40% of total exports. Singapore (X tons) took the second position in the ranking, followed by Indonesia (X tons) and Thailand (X tons). All these countries together took approx. 55% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +49.9%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2021, together comprising 82% of total exports.

Vietnam, with a CAGR of +51.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 18% against the previous year. In general, the export price, however, saw a perceptible contraction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.8%), while the other leaders experienced mixed trends in the export price figures.

Ammonium Nitrate Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded decline in purchases abroad of ammonium nitrate, which decreased by -17.2% to X tons in 2021. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 23% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ammonium nitrate imports totaled $X in 2021. Overall, imports faced a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 22%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons) and Malaysia (X tons) were the key importers of ammonium nitrate in 2021, amounting to near 28% and 24% of total imports, respectively. It was distantly followed by Thailand (X tons), the Philippines (X tons), Indonesia (X tons) and Myanmar (X tons), together constituting a 43% share of total imports. Lao People's Democratic Republic (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +6.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest ammonium nitrate importing markets in South-Eastern Asia were Vietnam ($X), Malaysia ($X) and Thailand ($X), with a combined 62% share of total imports. The Philippines, Indonesia, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 35%.

The Philippines, with a CAGR of +5.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, growing by 26% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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