Southern Asia: Ammonia Market 2024

Ammonia Market Size in Southern Asia

The South Asian ammonia market shrank to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Ammonia Production in Southern Asia

In value terms, ammonia production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Ammonia Exports

Exports in Southern Asia

In 2022, shipments abroad of anhydrous ammonia decreased by -38.9% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 205% against the previous year. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, ammonia exports fell rapidly to $X in 2022. Overall, exports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 311%. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

Bangladesh prevails in exports structure, finishing at X tons, which was near 95% of total exports in 2022. It was distantly followed by India (X tons), achieving a 5.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ammonia exports from Bangladesh stood at +5.1%. At the same time, India (+10.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +10.0% from 2012-2022. While the share of India (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bangladesh (-1.9 p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X) remains the largest ammonia supplier in Southern Asia, comprising 91% of total exports. The second position in the ranking was held by India ($X), with a 7.5% share of total exports.

In Bangladesh, ammonia exports increased at an average annual rate of +3.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, surging by 7.5% against the previous year. In general, the export price, however, saw a slight decrease. The growth pace was the most rapid in 2021 an increase of 35%. The level of export peaked at $X per ton in 2014; however, from 2015 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 India ($X per ton), while Bangladesh stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.3%).

Ammonia Imports

Imports in Southern Asia

In 2022, supplies from abroad of anhydrous ammonia increased by 0.8% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 22%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, ammonia imports soared to $X in 2022. Over the period under review, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 83% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X tons) represented the key importer of anhydrous ammonia, mixing up 88% of total imports. It was distantly followed by Bangladesh (X tons), constituting a 12% share of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of anhydrous ammonia. At the same time, Bangladesh (+27.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +27.5% from 2012-2022. While the share of Bangladesh (+11 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (-10.9 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported anhydrous ammonia in Southern Asia, comprising 95% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 5.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India stood at +6.1%.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, growing by 60% against the previous year. Over the period under review, the import price continues to indicate moderate growth. As a result, import 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 importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.3%).

Source: IndexBox Platform

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