Thailand: Ammonium Sulphate Market 2024

Ammonium Sulphate Market Size in Thailand

The Thai ammonium sulphate market reduced to $X in 2022, waning by -12.4% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then declined in the following year.

Ammonium Sulphate Production in Thailand

In value terms, ammonium sulphate production fell to $X in 2022 estimated in export price. Overall, production, however, recorded resilient growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 61%. Ammonium sulphate production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Ammonium Sulphate Exports

Exports from Thailand

In 2022, approx. X tons of ammonium sulphate were exported from Thailand; which is down by -32% against the previous year. In general, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 83% against the previous year. The exports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, ammonium sulphate exports totaled $X in 2022. Over the period under review, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2021 when exports increased by 122%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Myanmar (X tons), Australia (X tons) and Ecuador (X tons) were the main destinations of ammonium sulphate exports from Thailand, with a combined 55% share of total exports. Japan, Malaysia, Cambodia, Lao People's Democratic Republic and Vietnam lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lao People's Democratic Republic (with a CAGR of +201.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ammonium sulphate exported from Thailand were Myanmar ($X), Japan ($X) and Ecuador ($X), with a combined 58% share of total exports. Cambodia, Malaysia, Australia, Lao People's Democratic Republic and Vietnam lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Lao People's Democratic Republic, with a CAGR of +210.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ammonium sulphate export price amounted to $X per ton, increasing by 68% against the previous year. Overall, the export price posted pronounced growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Sulphate Imports

Imports into Thailand

In 2022, after two years of growth, there was significant decline in purchases abroad of ammonium sulphate, when their volume decreased by -16.1% to X tons. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 179% against the previous year. Imports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, ammonium sulphate imports soared to $X in 2022. Overall, imports, however, enjoyed modest growth. The pace of growth appeared the most rapid in 2020 when imports increased by 228% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest ammonium sulphate supplier to Thailand, accounting for a 84% share of total imports. Moreover, ammonium sulphate imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sevenfold. Madagascar (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+49.0% per year) and Madagascar (+14.1% per year).

In value terms, China ($X) constituted the largest supplier of ammonium sulphate to Thailand, comprising 85% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 11% share of total imports. It was followed by Madagascar, with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+56.8% per year) and Madagascar (+17.1% per year).

Import Prices by Country

In 2022, the average ammonium sulphate import price amounted to $X per ton, growing by 42% against the previous year. Overall, the import price enjoyed a moderate increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and South Korea ($X per ton), while the price for Madagascar ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+48.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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