ASEAN: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in ASEAN

The ASEAN NPK fertilizer market was estimated at $X in 2023, rising by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market remained at a lower figure.

Npk Fertilizer Production in ASEAN

In value terms, NPK fertilizer production rose remarkably to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Npk Fertilizer Exports

Exports in ASEAN

In 2023, exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in ASEAN rose slightly to X tons, growing by X% against the previous year's figure. In general, exports, however, continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, NPK fertilizer exports fell to $X in 2023. Over the period under review, exports, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Vietnam (X tons) represented the main exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, mixing up X% of total exports. Thailand (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons) and the Philippines (X tons). All these countries together took near X% share of total exports. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Vietnam experienced a relatively flat trend pattern with regard to volume of exports of mixed nitrogen, phosphorus and potassium (NPK) fertilizers. At the same time, Lao People's Democratic Republic (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) and the Philippines (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Thailand (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and the Philippines saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Vietnam ($X) remains the largest NPK fertilizer supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In Vietnam, NPK fertilizer exports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Lao People's Democratic Republic ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Npk Fertilizer Imports

Imports in ASEAN

In 2023, purchases abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports, however, showed a mild setback. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a lower figure.

In value terms, NPK fertilizer imports declined to $X in 2023. Over the period under review, imports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2022 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Thailand represented the key importing country with an import of around X tons, which recorded X% of total imports. The Philippines (X tons) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%), Indonesia (X%), Myanmar (X%) and Malaysia (X%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Imports into Thailand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Myanmar (X%), the Philippines (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Indonesia experienced a relatively flat trend pattern. By contrast, Vietnam (X%) and Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Philippines, Myanmar, Lao People's Democratic Republic and Indonesia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported mixed nitrogen, phosphorus and potassium (NPK) fertilizers in ASEAN, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

In Thailand, NPK fertilizer imports decreased by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and the Philippines (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then plummeted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($X per ton), while Myanmar ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform