South-Eastern Asia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in South-Eastern Asia

The Southeast Asian NPK fertilizer market rose modestly to $X in 2022, increasing by 2.4% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Npk Fertilizer Production in South-Eastern Asia

In value terms, NPK fertilizer production fell slightly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 31%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Npk Fertilizer Exports

Exports in South-Eastern Asia

After two years of growth, shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -19% to X tons in 2022. In general, exports showed a noticeable decline. The growth pace was the most rapid in 2020 with an increase of 32% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, NPK fertilizer exports shrank to $X in 2022. Overall, exports showed a noticeable decline. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the largest exporting country with an export of around X tons, which finished at 53% of total exports. Thailand (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together took approx. 40% share of total exports. The following exporters - the Philippines (X tons) and Lao People's Democratic Republic (X tons) - together made up 5.4% of total exports.

Vietnam experienced a relatively flat trend pattern with regard to volume of exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers. At the same time, Lao People's Democratic Republic (+80.4%) and Thailand (+7.4%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +80.4% from 2012-2022. By contrast, Malaysia (-1.6%) and the Philippines (-21.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Vietnam, Malaysia and Lao People's Democratic Republic increased by +14, +12, +2.4 and +2 percentage points, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 90% share of total exports. The Philippines and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 6.8%.

In terms of the main exporting countries, Lao People's Democratic Republic, with a CAGR of +75.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, surging by 13% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 15%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Npk Fertilizer Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers decreased by -16.8% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a slight setback. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, NPK fertilizer imports rose markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 16% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Thailand (X tons), distantly followed by Vietnam (X tons), Malaysia (X tons), the Philippines (X tons), Indonesia (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) represented the major importers of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, together constituting 99% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +13.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constitutes the largest market for imported mixed nitrogen, phosphorus and potassium (NPK) fertilizers in South-Eastern Asia, comprising 37% of total imports. The second position in the ranking was held by the Philippines ($X), with a 16% share of total imports. It was followed by Indonesia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled -1.3%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+13.6% per year) and Indonesia (+0.3% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 38% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, NPK fertilizer import price increased by +79.5% against 2020 indices. 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 Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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