Asia: Nitrogen Market 2024

Nitrogen Market Size in Asia

The Asian nitrogen market amounted to $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Nitrogen Production in Asia

In value terms, nitrogen production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Nitrogen Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in overseas shipments of nitrogen, which increased by X% to X cubic meters in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitrogen exports soared to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Kuwait (X cubic meters), Singapore (X cubic meters), Malaysia (X cubic meters) and the United Arab Emirates (X cubic meters) represented roughly X% of total exports in 2022. The following exporters - Turkey (X cubic meters), Vietnam (X cubic meters) and Iran (X cubic meters) - each amounted to a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest nitrogen supplying countries in Asia were Kuwait ($X), Singapore ($X) and Malaysia ($X), together accounting for X% of total exports. The United Arab Emirates, Turkey, Vietnam and Iran lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 Asia stood at $X per cubic meter in 2022, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the export price increased by X%. As a result, the export price attained the peak level of $X per cubic meter. From 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Nitrogen Imports

Imports in Asia

In 2022, supplies from abroad of nitrogen increased by X% to X cubic meters, rising for the second year in a row after three years of decline. Overall, imports, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X cubic meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, nitrogen imports soared to $X in 2022. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X cubic meters) and Malaysia (X cubic meters) represented the key importers of nitrogen in Asia, together resulting at near X% of total imports. Saudi Arabia (X cubic meters) took the next position in the ranking, followed by Kazakhstan (X cubic meters) and Oman (X cubic meters). All these countries together took near X% share of total imports. Brunei Darussalam (X cubic meters), Hong Kong SAR (X cubic meters), Iraq (X cubic meters), China (X cubic meters), Cambodia (X cubic meters), Jordan (X cubic meters), Israel (X cubic meters) and Indonesia (X cubic meters) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Kazakhstan, China, Oman, Cambodia, Indonesia, Iraq, Brunei Darussalam, Hong Kong SAR, Jordan and Israel lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the import price in Asia amounted to $X per cubic meter, picking up by X% against the previous year. Overall, the import price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per cubic meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per cubic meter), while Israel ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, 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.

Source: IndexBox Platform

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