Global Diammonium Phosphate Market 2024

Diammonium Phosphate Market Size

In 2022, the global diammonium phosphate market increased by 15% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Global consumption peaked in 2022 and is likely to continue growth in the near future.

Diammonium Phosphate Production

In value terms, diammonium phosphate production contracted modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 8.7%. Global production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Diammonium Phosphate Exports

Exports

In 2022, global exports of diammonium phosphate shrank to X tons, which is down by -5.9% against the previous year. In general, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.7% against 2020 indices. The pace of growth was the most pronounced in 2015 when exports increased by 33%. The global exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, diammonium phosphate exports surged to $X in 2022. Overall, total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 49%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Morocco (X tons) and China (X tons) represented the largest exporters of diammonium phosphate in 2022, resulting at near 32% and 25% of total exports, respectively. Saudi Arabia (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Russia (10%) and the United States (5.4%). Australia (X tons) and Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United States (with a CAGR of +104.7%), while the other global leaders experienced more modest paces of growth.

In value terms, Morocco ($X), China ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022, together comprising 77% of global exports. The United States, Russia, Australia and Tunisia lagged somewhat behind, together comprising a further 17%.

In terms of the main exporting countries, the United States, with a CAGR of +116.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average diammonium phosphate export price stood at $X per ton in 2022, rising by 25% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, diammonium phosphate export price increased by +109.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 68% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Russia ($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 United States (+5.9%), while the other global leaders experienced more modest paces of growth.

Diammonium Phosphate Imports

Imports

In 2022, approx. X tons of diammonium phosphate were imported worldwide; therefore, remained relatively stable against 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 16%. Over the period under review, global imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, diammonium phosphate imports surged to $X in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 51%. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons) was the largest importer of diammonium phosphate, committing 46% of total imports. It was distantly followed by Bangladesh (X tons), generating a 6.8% share of total imports. The following importers - Pakistan (X tons), Indonesia (X tons), Vietnam (X tons), Tanzania (X tons), Japan (X tons), Kenya (X tons), Argentina (X tons), Brazil (X tons) and Turkey (X tons) - together made up 24% of total imports.

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, Tanzania (+46.1%), Bangladesh (+10.1%), Indonesia (+9.0%), Kenya (+6.3%) and Japan (+3.5%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in the world, with a CAGR of +46.1% from 2012-2022. Pakistan and Argentina experienced a relatively flat trend pattern. By contrast, Vietnam (-4.5%), Turkey (-4.9%) and Brazil (-8.5%) illustrated a downward trend over the same period. India (+6.3 p.p.), Bangladesh (+4.2 p.p.), Tanzania (+3 p.p.) and Indonesia (+2 p.p.) significantly strengthened its position in terms of the global imports, while Vietnam and Brazil saw its share reduced by -2% and -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diammonium phosphate worldwide, comprising 53% of global imports. The second position in the ranking was taken by Bangladesh ($X), with a 4.7% share of global imports. It was followed by Pakistan, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +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 average diammonium phosphate import price amounted to $X per ton, picking up by 33% against the previous year. In general, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, diammonium phosphate import price increased by +124.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 68% against the previous year. Global import price peaked in 2022 and is likely to see gradual 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 Argentina ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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