Asia: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Asia

The Asian NPK fertilizer market expanded remarkably to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. 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.

Npk Fertilizer Production in Asia

In value terms, NPK fertilizer production rose remarkably to $X in 2023 estimated in export price. The total production indicated a noticeable 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 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 was finally on the rise to reach X tons after two years of decline. Total exports indicated a moderate 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 most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, NPK fertilizer exports dropped to $X in 2023. Total exports 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, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then shrank in the following year.

Exports by Country

China represented the key exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Asia, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. Vietnam (X tons) took the second position in the ranking, followed by South Korea (X tons), Thailand (X tons) and Turkey (X tons). All these countries together took approx. X% share of total exports. Saudi Arabia (X tons), Israel (X tons), the United Arab Emirates (X tons), Jordan (X tons), Uzbekistan (X tons), Malaysia (X tons) and India (X tons) took a little share 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. While the share of China (X p.p.), Saudi Arabia (X p.p.), Jordan (X p.p.), Uzbekistan (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Israel (X p.p.), India (X p.p.), Malaysia (X p.p.), South Korea (X p.p.) and Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, NPK fertilizer exports 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: 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, reducing by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then fell 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 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, overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were finally on the rise to reach 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% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, NPK fertilizer imports contracted to $X in 2023. Total imports indicated a temperate 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, 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 reached the peak of $X, leveling off in the following year.

Imports by Country

In 2023, India (X tons) and China (X tons) represented the main importers of mixed nitrogen, phosphorus and potassium (NPK) fertilizers in Asia, together constituting X% of total imports. Thailand (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%) and Vietnam (X%). Indonesia (X tons), Myanmar (X tons), Turkey (X tons) and Malaysia (X tons) took a minor 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, the largest NPK fertilizer importing markets in Asia were India ($X), China ($X) and Thailand ($X), together accounting for X% of total imports.

Among the main importing countries, India, 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, dropping by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced 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