Asia: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Asia

In 2023, after five years of growth, there was decline in the Asian potassium nitrate market, when its value decreased by X% to $X. The total consumption indicated noticeable growth 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. Over the period under review, the market hit record highs at $X in 2022, and then fell slightly in the following year.

Potassium Nitrate Production in Asia

In value terms, potassium nitrate production amounted to $X in 2023 estimated in export price. The total production indicated a pronounced increase 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 decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Potassium Nitrate Exports

Exports in Asia

In 2023, overseas shipments of potassium nitrates were finally on the rise to reach X tons after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, potassium nitrate exports shrank to $X in 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China was the largest exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Jordan (X tons), generating a X% share of total exports. Turkey (X tons) and Thailand (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Jordan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and Turkey increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest potassium nitrate supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Jordan ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Jordan (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the export price saw 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 reached the peak level of $X per ton, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Potassium Nitrate Imports

Imports in Asia

Potassium nitrate imports expanded significantly to X tons in 2023, with an increase of X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, potassium nitrate imports declined to $X in 2023. Total imports indicated a slight 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 2018 indices. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2023, Turkey (X tons) and the United Arab Emirates (X tons) represented the main importers of potassium nitrates in Asia, together generating X% of total imports. South Korea (X tons) took the next position in the ranking, followed by Thailand (X tons), Indonesia (X tons) and Japan (X tons). All these countries together held approx. X% share of total imports. Malaysia (X tons), Israel (X tons), Azerbaijan (X tons), Vietnam (X tons) and Saudi Arabia (X tons) took a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Israel (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potassium nitrate importing markets in Asia were Turkey ($X), the United Arab Emirates ($X) and South Korea ($X), together comprising X% of total imports. Thailand, Malaysia, Japan, Indonesia, Azerbaijan, Israel, Vietnam and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Azerbaijan, with a CAGR of X%, saw the highest rates of growth with regard to 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, shrinking by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded 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 dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform