South-Eastern Asia: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in South-Eastern Asia

The Southeast Asian market for compounds with other nitrogen function (excluding isocyanates) fell to $X in 2022, which is down by -5.7% against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -25.4% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in South-Eastern Asia

In value terms, compounds with other nitrogen function production shrank to $X in 2022 estimated in export price. Overall, production, however, enjoyed a perceptible increase. The growth pace was the most rapid in 2019 with an increase of 66% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports in South-Eastern Asia

After three years of growth, shipments abroad of compounds with other nitrogen function (excluding isocyanates) decreased by -21% to X tons in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 33%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted significantly in the following year.

In value terms, compounds with other nitrogen function exports soared to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +101.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 57% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Thailand represented the major exporting country with an export of around X tons, which reached 85% of total exports. It was distantly followed by Indonesia (X tons), committing a 13% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the compounds with other nitrogen function (excluding isocyanates) exports, with a CAGR of +41.1% from 2012 to 2022. Singapore (-9.0%) and Indonesia (-17.6%) illustrated a downward trend over the same period. Thailand (+82 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Indonesia saw its share reduced by -3.2% and -76.9% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest compounds with other nitrogen function supplier in South-Eastern Asia, comprising 78% of total exports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total exports.

In Thailand, compounds with other nitrogen function exports increased at an average annual rate of +46.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (-16.1% per year) and Singapore (+12.9% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, surging by 62% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, compounds with other nitrogen function export price increased by +107.1% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+24.0%), while the other leaders experienced more modest paces of growth.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports in South-Eastern Asia

In 2022, purchases abroad of compounds with other nitrogen function (excluding isocyanates) increased by 7.5% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2015 with an increase of 18% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, compounds with other nitrogen function imports soared to $X in 2022. Over the period under review, imports, however, saw a noticeable descent. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X tons) represented the major importer of compounds with other nitrogen function (excluding isocyanates), mixing up 46% of total imports. Vietnam (X tons) took the second position in the ranking, distantly followed by Thailand (X tons), Malaysia (X tons), Indonesia (X tons) and Cambodia (X tons). All these countries together held approx. 49% share of total imports. Singapore (X tons) followed a long way behind the leaders.

Myanmar experienced a relatively flat trend pattern with regard to volume of imports of compounds with other nitrogen function (excluding isocyanates). At the same time, Singapore (+28.8%) and Cambodia (+16.5%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +28.8% from 2012-2022. By contrast, Vietnam (-1.1%), Thailand (-1.5%), Indonesia (-8.6%) and Malaysia (-9.3%) illustrated a downward trend over the same period. While the share of Myanmar (+14 p.p.), Cambodia (+4 p.p.), Singapore (+3.8 p.p.) and Vietnam (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-4.7 p.p.) and Malaysia (-9.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) in South-Eastern Asia, comprising 45% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +45.3%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+2.3% per year) and Thailand (-13.4% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, jumping by 46% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. 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 importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+12.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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