ASEAN: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in ASEAN

The ASEAN nitrogenous fertilizer market dropped to $X in 2023, remaining relatively unchanged against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Nitrogenous Fertilizer Production in ASEAN

In value terms, nitrogenous fertilizer production stood at $X in 2023 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Nitrogenous Fertilizer Exports

Exports in ASEAN

In 2023, shipments abroad of nitrogenous fertilizers (mineral or chemical) decreased by X% to X tons, falling for the third year in a row after five years of growth. Overall, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, nitrogenous fertilizer exports contracted significantly to $X in 2023. Over the period under review, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Malaysia (X tons) and Indonesia (X tons) represented roughly X% of total exports in 2023. Vietnam (X tons) took the next position in the ranking, distantly followed by Thailand (X tons). All these countries together held approx. X% share of total exports.

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

In value terms, Indonesia ($X), Malaysia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then dropped notably 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 Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Nitrogenous Fertilizer Imports

Imports in ASEAN

Nitrogenous fertilizer imports surged to X tons in 2023, rising by X% on 2022 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports fell sharply to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then reduced rapidly in the following year.

Imports by Country

In 2023, Thailand (X tons), distantly followed by the Philippines (X tons), Vietnam (X tons), Malaysia (X tons) and Indonesia (X tons) represented the main importers of nitrogenous fertilizers (mineral or chemical), together creating X% of total imports. The following importers - Myanmar (X tons) and Cambodia (X tons) - each recorded a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest nitrogenous fertilizer importing markets in ASEAN were Thailand ($X), the Philippines ($X) and Vietnam ($X), together accounting for X% of total imports. Malaysia, Indonesia, Myanmar and Cambodia lagged somewhat behind, together comprising a further X%.

Cambodia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price recorded a mild downturn. The growth pace was 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 plummeted 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 Myanmar ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform