ASEAN: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in ASEAN

The ASEAN nitrogenous fertilizer market stood at $X in 2023, increasing by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Nitrogenous Fertilizer Production in ASEAN

In value terms, nitrogenous fertilizer production expanded rapidly to $X in 2023 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

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. In general, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, nitrogenous fertilizer exports shrank significantly to $X in 2023. Over the period under review, exports, however, saw strong growth. The pace of growth was the most pronounced in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

Malaysia (X tons) and Indonesia (X tons) represented the major exporters of nitrogenous fertilizers (mineral or chemical) in 2023, amounting to near X% and X% of total exports, respectively. It was distantly followed by Vietnam (X tons) and Thailand (X tons), together comprising a X% share of total exports.

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

In value terms, the largest nitrogenous fertilizer supplying countries in ASEAN were Indonesia ($X), Malaysia ($X) and Vietnam ($X), together accounting for 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, with a decrease of X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted remarkably 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

In 2023, approx. X tons of nitrogenous fertilizers (mineral or chemical) were imported in ASEAN; growing by X% against the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports contracted notably to $X in 2023. Overall, imports, however, continue to indicate a mild contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then declined notably 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) were the largest importers of nitrogenous fertilizers (mineral or chemical), together comprising X% of total imports. The following importers - Myanmar (X tons) and Cambodia (X tons) - each amounted to a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Thailand ($X), the Philippines ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Malaysia, Indonesia, Myanmar and Cambodia lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price saw a slight contraction. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per ton, and then shrank remarkably in the following year.

Prices varied noticeably by country of destination: 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