Asia-Pacific: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Asia-Pacific

In 2023, the Asia-Pacific nitrogenous fertilizer market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2022, and then contracted in the following year.

Nitrogenous Fertilizer Production in Asia-Pacific

In value terms, nitrogenous fertilizer production expanded notably to $X in 2023 estimated in export price. The total production indicated a slight 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

Nitrogenous Fertilizer Exports

Exports in Asia-Pacific

In 2023, shipments abroad of nitrogenous fertilizers (mineral or chemical) increased by X% to X tons, rising for the fifth consecutive year after three years of decline. Total exports indicated a resilient expansion 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 increased by X% against 2018 indices. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to continue growth in years to come.

In value terms, nitrogenous fertilizer exports fell significantly to $X in 2023. In general, exports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then contracted remarkably in the following year.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. Malaysia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (X%). Brunei Darussalam (X tons), Vietnam (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to nitrogenous fertilizer exports from China stood at X%. At the same time, Brunei Darussalam (X%), Malaysia (X%), Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Brunei Darussalam and Malaysia increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest nitrogenous fertilizer supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In China, nitrogenous fertilizer exports expanded 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: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the export price saw a pronounced slump. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then shrank significantly in the following year.

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

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

Nitrogenous Fertilizer Imports

Imports in Asia-Pacific

In 2023, nitrogenous fertilizer imports in Asia-Pacific fell to X tons, which is down by X% compared with the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2022, and then contracted in the following year.

In value terms, nitrogenous fertilizer imports fell markedly to $X in 2023. In general, imports, however, enjoyed modest growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2022, and then declined notably in the following year.

Imports by Country

India was the largest importer of nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. Australia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%), the Philippines (X%) and Vietnam (X%). Malaysia (X tons), Indonesia (X tons), South Korea (X tons), Bangladesh (X tons), New Zealand (X tons), Sri Lanka (X tons) and American Samoa (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to nitrogenous fertilizer imports into India stood at X%. At the same time, American Samoa (X%), Sri Lanka (X%), Australia (X%), the Philippines (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, American Samoa emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Thailand and Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (X%), Vietnam (X%), South Korea (X%) and New Zealand (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Australia, India and the Philippines increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported nitrogenous fertilizers (mineral or chemical) in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

In India, nitrogenous fertilizer imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Australia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then dropped rapidly 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 Bangladesh ($X per ton), while American Samoa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform