Compounds With Other Nitrogen Function Market

The article discusses the increasing demand for compounds with other nitrogen function (excluding isocyanates) worldwide, with market performance forecasted to grow at a CAGR of +5.3% in volume and +8.4% in value from 2022 to 2030. By 2022, global consumption reached 599K tons, while production dropped slightly to 605K tons. The top consuming countries were China, the US, and India, with the Netherlands leading in per capita consumption. Import and export trends show fluctuations, with China being the key exporter. Overall, the global market for compounds with other nitrogen function is expected to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for compounds with other nitrogen function (excluding isocyanates) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market volume to 904K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.4% for the period from 2022 to 2030, which is projected to bring the market value to $34.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Compounds With Other Nitrogen Function (Excluding Isocyanates)

In 2022, global compounds with other nitrogen function consumption shrank to 599K tons, with a decrease of -5.3% against the previous year's figure. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.8% against 2019 indices. As a result, consumption reached the peak volume of 671K tons. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The size of the market for compounds with other nitrogen function (excluding isocyanates) worldwide shrank to $18.2B in 2022, falling by -6.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw prominent growth. As a result, consumption reached the peak level of $22.6B. From 2020 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (125K tons), the United States (66K tons) and India (46K tons), with a combined 40% share of global consumption. Russia, Germany, Japan, Indonesia, the UK, Mexico, the Netherlands, Turkey, Spain and Canada lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +10.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($4B) led the market, alone. The second position in the ranking was taken by India ($1.4B). It was followed by Russia.

In Japan, the compounds with other nitrogen function market expanded at an average annual rate of +5.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+9.2% per year) and Russia (+3.5% per year).

In 2022, the highest levels of compounds with other nitrogen function per capita consumption was registered in the Netherlands (882 kg per 1000 persons), followed by the UK (330 kg per 1000 persons), Germany (323 kg per 1000 persons) and Canada (315 kg per 1000 persons), while the world average per capita consumption of compounds with other nitrogen function was estimated at 1 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the compounds with other nitrogen function per capita consumption in the Netherlands totaled +4.4%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the UK (+1.2% per year) and Germany (+4.2% per year).

Production

World Production of Compounds With Other Nitrogen Function (Excluding Isocyanates)

In 2022, the amount of compounds with other nitrogen function (excluding isocyanates) produced worldwide dropped slightly to 605K tons, which is down by -4.4% compared with the previous year. Overall, the total production indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 62%. As a result, production reached the peak volume of 683K tons. From 2020 to 2022, global production growth remained at a somewhat lower figure.

In value terms, compounds with other nitrogen function production reduced to $17.2B in 2022 estimated in export price. Over the period under review, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 134%. As a result, production attained the peak level of $20.6B. From 2020 to 2022, global production growth failed to regain momentum.

Production By Country

China (189K tons) constituted the country with the largest volume of compounds with other nitrogen function production, accounting for 31% of total volume. Moreover, compounds with other nitrogen function production in China exceeded the figures recorded by the second-largest producer, the United States (67K tons), threefold. The third position in this ranking was held by India (46K tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +5.9%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+8.5% per year) and India (+7.2% per year).

Imports

World Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

In 2022, overseas purchases of compounds with other nitrogen function (excluding isocyanates) decreased by -4% to 101K tons, falling for the second consecutive year after two years of growth. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 25%. Over the period under review, global imports attained the maximum at 118K tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, compounds with other nitrogen function imports reached $720M in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.4% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 31%. Over the period under review, global imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports By Country

The countries with the highest levels of compounds with other nitrogen function imports in 2022 were the Netherlands (16K tons), the United States (11K tons) and Germany (10K tons), together amounting to 37% of total import. It was distantly followed by Brazil (6.6K tons), constituting a 6.5% share of total imports. South Africa (4.1K tons), Turkey (4K tons), Canada (3.3K tons), Pakistan (2.8K tons), Japan (2.7K tons), Kyrgyzstan (2.7K tons), Myanmar (2.2K tons), Taiwan (Chinese) (2.1K tons) and Argentina (1.9K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +100.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($165M) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) worldwide, comprising 23% of global imports. The second position in the ranking was taken by Japan ($74M), with a 10% share of global imports. It was followed by the Netherlands, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +11.6%. In the other countries, the average annual rates were as follows: Japan (+14.3% per year) and the Netherlands (+7.2% per year).

Import Prices By Country

In 2022, the average import price for compounds with other nitrogen function (excluding isocyanates) amounted to $7,160 per ton, with an increase of 19% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, compounds with other nitrogen function import price increased by +67.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 40%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($27,107 per ton), while Myanmar ($644 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

In 2022, shipments abroad of compounds with other nitrogen function (excluding isocyanates) was finally on the rise to reach 106K tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 38%. The global exports peaked at 117K tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, compounds with other nitrogen function exports skyrocketed to $831M in 2022. Overall, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +43.6% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 37% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports By Country

In 2022, China (64K tons) was the key exporter of compounds with other nitrogen function (excluding isocyanates), committing 60% of total exports. It was distantly followed by the United States (12K tons), Germany (6.8K tons) and the UK (6.2K tons), together constituting a 23% share of total exports. Thailand (3.9K tons) and Spain (2.3K tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +2.7% from 2012 to 2022. At the same time, Thailand (+41.3%), the United States (+11.3%), Germany (+8.5%), the UK (+6.8%) and Spain (+4.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.3% from 2012-2022. The United States (+6 p.p.), Thailand (+3.5 p.p.), Germany (+2.5 p.p.) and the UK (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -2.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($353M) remains the largest compounds with other nitrogen function supplier worldwide, comprising 42% of global exports. The second position in the ranking was held by the United States ($95M), with an 11% share of global exports. It was followed by Germany, with a 5.4% share.

In China, compounds with other nitrogen function exports increased at an average annual rate of +7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+11.8% per year) and Germany (+5.1% per year).

Export Prices By Country

The average export price for compounds with other nitrogen function (excluding isocyanates) stood at $7,839 per ton in 2022, rising by 23% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, compounds with other nitrogen function export price increased by +54.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 26% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($8,034 per ton), while Thailand ($3,458 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform