Asia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Asia

The Asian NPK fertilizer market rose remarkably to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Npk Fertilizer Production in Asia

In value terms, NPK fertilizer production rose notably to $X in 2023 estimated in export price. The total production indicated measured growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Npk Fertilizer Exports

Exports in Asia

In 2023, shipments 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. Total exports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, NPK fertilizer exports reduced modestly to $X in 2023. In general, exports recorded perceptible growth. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then shrank slightly in the following year.

Exports by Country

In 2023, China (X tons) represented the key exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, comprising X% of total exports. Vietnam (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%), Thailand (X%) and Turkey (X%). The following exporters - Jordan (X tons), Saudi Arabia (X tons), Israel (X tons), the United Arab Emirates (X tons), Uzbekistan (X tons), Malaysia (X tons) and India (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Uzbekistan (X%), Jordan (X%), Saudi Arabia (X%), Turkey (X%), the United Arab Emirates (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. South Korea, Vietnam and Israel experienced a relatively flat trend pattern. By contrast, India (X%) and Malaysia (X%) illustrated a downward trend over the same period. China (X p.p.), Jordan (X p.p.), Saudi Arabia (X p.p.), Uzbekistan (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Israel, India, Malaysia, South Korea and Vietnam saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest NPK fertilizer supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

In China, NPK fertilizer exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded 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 fell dramatically in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

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

Npk Fertilizer Imports

Imports in Asia

In 2023, supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, NPK fertilizer imports declined slightly to $X in 2023. Total imports indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2023, India (X tons) and China (X tons) were the main importers of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Asia, together reaching near X% of total imports. Thailand (X tons) held the next position in the ranking, distantly followed by the Philippines (X tons) and Vietnam (X tons). All these countries together took near X% share of total imports. Indonesia (X tons), Myanmar (X tons), Turkey (X tons) and Malaysia (X tons) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

In terms of the main importing countries, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform