Thailand: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Thailand

The Thai ammonium nitrate market surged to $X in 2021, growing by 371% against the previous year. Overall, consumption recorded a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ammonium Nitrate Production in Thailand

In value terms, ammonium nitrate production soared to $X in 2021 estimated in export price. Overall, production, however, showed a deep setback. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ammonium Nitrate Exports

Exports from Thailand

In 2021, shipments abroad of ammonium nitrate decreased by -40.1% to X tons, falling for the third consecutive year after four years of growth. In general, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2017 with an increase of 74% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, ammonium nitrate exports reduced notably to $X in 2021. Overall, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 45%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for ammonium nitrate exports from Thailand, accounting for a 68% share of total exports. Moreover, ammonium nitrate exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Cambodia (X tons), fivefold. The third position in this ranking was taken by Vietnam (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Lao People's Democratic Republic totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+54.7% per year) and Vietnam (+22.6% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for ammonium nitrate exports from Thailand, comprising 77% of total exports. The second position in the ranking was held by Cambodia ($X), with a 9.9% share of total exports. It was followed by Vietnam, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+135.2% per year) and Vietnam (+18.2% per year).

Export Prices by Country

The average ammonium nitrate export price stood at $X per ton in 2021, with an increase of 19% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 44% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+51.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Thailand

In 2021, imports of ammonium nitrate into Thailand declined to X tons, shrinking by -9.8% against 2020 figures. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 27%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ammonium nitrate imports surged to $X in 2021. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 26%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

South Korea (X tons), Russia (X tons) and Sweden (X tons) were the main suppliers of ammonium nitrate imports to Thailand, with a combined 100% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +3,232.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium nitrate suppliers to Thailand were South Korea ($X), Russia ($X) and Sweden ($X), with a combined 100% share of total imports.

Russia, with a CAGR of +2,358.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ammonium nitrate import price stood at $X per ton in 2021, growing by 32% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Russia ($X per ton) and South Korea ($X per ton), while the price for China ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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