Vietnam is a major agricultural country in the world, where agriculture plays a vital role in the national economy and serves as one of its supporting industries. In 2023, agriculture contributed 12% to Vietnam's real GDP growth, with more than 50% of the population engaged in agriculture, and arable and forest land covering 60% of the total land area. According to the publisher, due to limited local fertilizer production capacity and output, Vietnam needs to import 3-4 million tons of fertilizer annually. Vietnam is also one of the largest users of chemical fertilizers in the world, heavily relying on imports, with an annual consumption of nearly 7.7 million tons and over 4 million tons of fertilizer imported each year. The import market of diammonium phosphate in Vietnam is similarly dependent on imported products.
In 2023, Vietnam established 1,400 new agricultural enterprises, bringing the total number of agricultural enterprises to over 16,100, indicating strong development momentum in downstream industries of diammonium phosphate. Vietnam is one of the top 15 agricultural product exporters globally and the second-largest in Southeast Asia, with a substantial demand for fertilizer products.
According to the publisher, over the past five years, the fertilizer market in Vietnam has shown an overall upward trend, with an apparent annual consumption exceeding 6 million tons and a market scale of over USD 2 billion annually. Compound fertilizers are the most imported type, accounting for more than 35% of the total import value. Diammonium phosphate is a major category of compound fertilizers, with Vietnam's imports amounting to USD 271 million in 2023. From January to May 2024, Vietnam imported approximately USD 160 million worth of diammonium phosphate, demonstrating a continuous growth trend in market demand.
Based on the analysis of the publisher, the primary sources of diammonium phosphate imports for Vietnam from 2021 to 2024 include China, Singapore, South Korea, and Thailand. Major companies exporting this product to Vietnam include Yunnan Yuntianhua Honglin Chemical, Sojitz Corporation, and Purefert, with Chinese enterprises holding a significant market share. The main importers in Vietnam comprise both local fertilizer distributors and foreign-invested enterprises, such as TGO HAIPHONG, JAPAN VIETNAM FERTILIZER, and NGUYEN PHAN CO, LTD.
Overall, with population growth and continuous agricultural development in Vietnam, the demand for diammonium phosphate will continue to rise. According to the publisher, the import of diammonium phosphate in Vietnam is expected to maintain a growth trend in the coming years, playing a crucial role in stabilizing and boosting agricultural production in the country.
Topics covered:
- The Import and Export of Diammonium Phosphate in Vietnam (2021-2024)
- Total Import Volume of Diammonium Phosphate in Vietnam (2021-2024)
- Total Import Value and Growth Rate of Diammonium Phosphate in Vietnam (2021-2024)
- Total Import Value and Growth Rate of Diammonium Phosphate in Vietnam (January-May 2024)
- Average Import Price of Diammonium Phosphate in Vietnam (2021-2024)
- Top 10 Sources of Diammonium Phosphate Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Diammonium Phosphate in Vietnam and Their Supply Volume
- Top 10 Importers of Diammonium Phosphate in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Diammonium Phosphate in Vietnam
- How Foreign Enterprises Enter the Fertilizer Market of Vietnam
- Forecast for the Import of Diammonium Phosphate in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- YUNNAN YUNTIANHUA
- YUNNAN XIANGFENG TRADING CO LTD.
- Sojitz Corporation
- Tgo Commodities Haiphong Co.
- Japan Vietnam Fertilizer Company
- Nguyen Phan
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | July 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 281 Million |
| Forecasted Market Value ( USD | $ 386.32 Million |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
