Asia: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2024

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in Asia

In 2023, the Asian market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, recorded a noticeable slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in Asia

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution rose to $X in 2023 estimated in export price. Over the period under review, production, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports in Asia

In 2023, overseas shipments of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution contracted rapidly to $X in 2023. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

Exports by Country

Turkmenistan represented the main exporter of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in Asia, with the volume of exports recording X tons, which was near X% of total exports in 2023. Turkey (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%) and Iran (X%). The following exporters - Saudi Arabia (X tons) and China (X tons) - together made up X% of total exports.

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

In value terms, Turkmenistan ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Turkmenistan, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

In 2023, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a pronounced setback. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports in Asia

In 2023, after three years of growth, there was significant decline in purchases abroad of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution, when their volume decreased by X% to X tons. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports of hit record highs at X tons in 2022, and then shrank remarkably in the following year.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution shrank markedly to $X in 2023. Over the period under review, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2023, Israel (X tons) was the main importer of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution, comprising X% of total imports. Kazakhstan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (X%) and Palestine (X%). China (X tons) followed a long way behind the leaders.

Israel was also the fastest-growing in terms of the mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution imports, with a CAGR of X% from 2012 to 2023. At the same time, Turkey (X%), Kazakhstan (X%), Palestine (X%) and China (X%) displayed positive paces of growth. Israel (X p.p.), Turkey (X p.p.), Kazakhstan (X p.p.) and Palestine (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in Asia, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with an X% share of total imports. It was followed by Kazakhstan, with a X% share.

In Israel, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Kazakhstan (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced expansion. The pace of growth appeared the most rapid in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Palestine ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform