Asia-Pacific: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Asia-Pacific

The Asia-Pacific NPK fertilizer market rose notably to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Npk Fertilizer Production in Asia-Pacific

In value terms, NPK fertilizer production expanded sharply to $X in 2023 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production remained at a lower figure.

Npk Fertilizer Exports

Exports in Asia-Pacific

In 2023, after two years of decline, there was significant growth in shipments abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, when their volume increased by X% to X tons. Total exports indicated a temperate increase from 2012 to 2023: its volume 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, NPK fertilizer exports fell to $X in 2023. Over the period under review, exports continue to indicate measured growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then shrank in the following year.

Exports by Country

In 2023, China (X tons) was the main exporter of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, creating X% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a X% share, followed by South Korea (X%) and Thailand (X%). The following exporters - Malaysia (X tons), India (X tons) and the Philippines (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports, with a CAGR of X% from 2012 to 2023. At the same time, Thailand (X%) displayed positive paces of growth. South Korea and Vietnam experienced a relatively flat trend pattern. By contrast, India (X%), Malaysia (X%) and the Philippines (X%) illustrated a downward trend over the same period. China (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while India, South Korea, Malaysia, Vietnam and the Philippines saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2023, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%. 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

In 2023, the export price in Asia-Pacific amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank rapidly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Thailand ($X per ton) and Malaysia ($X per ton), while China ($X per ton) and India ($X per ton) were amongst the lowest.

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

Npk Fertilizer Imports

Imports in Asia-Pacific

In 2023, after two years of decline, there was significant growth in supplies from abroad of mixed nitrogen, phosphorus and potassium (NPK) fertilizers, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, NPK fertilizer imports declined slightly to $X in 2023. Total imports indicated a mild 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 most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then reduced slightly in the following year.

Imports by Country

India (X tons) and China (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Thailand (X tons), the Philippines (X tons) and Vietnam (X tons), together generating a X% share of total imports. The following importers - Indonesia (X tons) and Myanmar (X tons) - each resulted at an X% 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, India ($X), China ($X) and Thailand ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, India, with a CAGR of X%, recorded the highest growth rate of 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-Pacific stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was 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 fell significantly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in China ($X per ton) and Thailand ($X per ton), while Myanmar ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform