ASEAN: Fertilizer Market 2024

Fertilizer Market Size in ASEAN

The ASEAN fertilizer market reduced to $X in 2023, waning by X% against the previous year. Overall, consumption 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 remained at a somewhat lower figure.

Fertilizer Production in ASEAN

In value terms, fertilizer production expanded remarkably to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Fertilizer Exports

Exports in ASEAN

Fertilizer exports fell to X tons in 2023, which is down by X% on 2022. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X tons in 2022, and then reduced in the following year.

In value terms, fertilizer exports fell significantly to $X in 2023. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then shrank markedly in the following year.

Exports by Country

In 2023, Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons) represented the major exporter of fertilizers in ASEAN, creating X% of total export. Brunei Darussalam (X tons) ranks next in terms of the total exports with a X% share, followed by Lao People's Democratic Republic (X%) and Thailand (X%).

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

In value terms, Indonesia ($X), Malaysia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Lao People's Democratic Republic, Brunei Darussalam and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Brunei Darussalam, 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

In 2023, the export price in ASEAN amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then dropped in the following year.

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

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

Fertilizer Imports

Imports in ASEAN

In 2023, purchases abroad of fertilizers decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, fertilizer imports reduced dramatically to $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

The purchases of the five major importers of fertilizers, namely Indonesia, Thailand, Malaysia, Vietnam and the Philippines, represented more than two-thirds of total import. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fertilizer importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Malaysia ($X), together comprising X% of total imports. Vietnam, the Philippines and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Myanmar, with a CAGR of X%, saw the highest growth rate of 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

The import price in ASEAN stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price recorded a mild slump. The growth pace was the most rapid in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Thailand ($X per ton) and Myanmar ($X per ton), while Indonesia ($X per ton) and Malaysia ($X per ton) were 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 a decline in the import price figures.

Source: IndexBox Platform