Southern Asia: Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size in Southern Asia

In 2022, the South Asian diammonium phosphate market increased by 33% to $X, rising for the second year in a row after two years of decline. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +81.5% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Diammonium Phosphate Production in Southern Asia

In value terms, diammonium phosphate production shrank to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 48% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Diammonium Phosphate Exports

Exports in Southern Asia

In 2022, shipments abroad of diammonium phosphate decreased by -99.8% to X tons, falling for the third year in a row after two years of growth. In general, exports saw a dramatic contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 348% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, diammonium phosphate exports declined sharply to $X in 2022. Overall, exports continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 544% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of diammonium phosphate, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the diammonium phosphate exports, with a CAGR of -31.3% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest diammonium phosphate supplier in Southern Asia.

In India, diammonium phosphate exports declined by an average annual rate of -25.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, jumping by 153% against the previous year. Over the period under review, the export price showed a prominent increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +9.1% per year.

Diammonium Phosphate Imports

Imports in Southern Asia

Diammonium phosphate imports amounted to X tons in 2022, increasing by 14% on 2021. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 55% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, diammonium phosphate imports surged to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by 69%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

India was the key importer of diammonium phosphate in Southern Asia, with the volume of imports reaching X tons, which was near 79% of total imports in 2022. Bangladesh (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Pakistan (7.4%).

From 2012 to 2022, average annual rates of growth with regard to diammonium phosphate imports into India stood at +1.7%. At the same time, Bangladesh (+10.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +10.1% from 2012-2022. Pakistan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Bangladesh increased by +6.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diammonium phosphate in Southern Asia, comprising 85% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 7.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India totaled +5.8%. In the other countries, the average annual rates were as follows: Bangladesh (+9.3% per year) and Pakistan (+2.1% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, increasing by 37% against the previous year. Over the period under review, the import price enjoyed a moderate increase. The most prominent rate of growth was recorded in 2021 an increase of 78% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain 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 ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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