Globally, major NPK fertilizer production regions are found where raw materials are abundant, agriculture is well-developed, and the fertilizer industry has a strong foundation. Key producers include China, Canada, Russia, Belarus, and the United States. According to the publisher's analysis, North America, Latin America, and Asia are the primary consumption regions for NPK fertilizers, with East Asia, Southeast Asia, and South Asia driving demand in Asia. Southeast Asia's demand for NPK fertilizers has surged due to population growth and ongoing agricultural development.
As a major agricultural country in Southeast Asia, Vietnam's demand for NPK fertilizers continues to grow with its population and agricultural development. Agriculture plays a crucial role in Vietnam's economy, contributing 12% to GDP growth in 2023, with over 50% of the population engaged in agriculture. Vietnamese farmers widely use NPK fertilizers to boost crop yield and quality. Compound fertilizers account for over 30% of Vietnam's total annual fertilizer demand, playing an essential role in agricultural production. Vietnam's domestic production of NPK fertilizers is limited, leading to high dependency on imports.
The data indicates that Vietnam's total NPK fertilizer imports amounted to USD 155 million in 2023. With rising demand in 2024, the cumulative import value from January to July 2024 approached USD 117 million, and the market is expected to grow steadily in the coming years.
According to the publisher, Vietnam's primary NPK fertilizer import sources are Russia, China, Singapore, Hong Kong, and Norway, with Russia being the largest source. From 2021 to 2024, Russia, China, and Singapore were the leading suppliers. Major exporters to Vietnam include YARA ASIA PTE LTD, BEHN MEYER AGCARE LLP, and FERSOL LIMITED (DMCC BRANCH). Main importers from 2021 to 2024 include YARA VIETNAM CO LTD, BEHN MEYER AGRICARE VIETNAM CO LTD, and TUONG NGUYEN IMPORT EXPORT TRADING.
Overall, Vietnam's NPK fertilizer demand is on a steady growth trajectory. The publisher projects that with population growth and agricultural modernization, the NPK fertilizer market in Vietnam is likely to continue expanding. Due to limited domestic fertilizer production capacity, Vietnam's NPK fertilizer imports are expected to keep increasing over the coming years.
Topics covered:
- The Import and Export of NPK Fertilizers in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of NPK Fertilizers in Vietnam (2021-2024)
- Total Import Value and Percentage Change of NPK Fertilizers in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of NPK Fertilizers in Vietnam (2024)
- Total Import Value and Percentage Change of NPK Fertilizers in Vietnam (2024)
- Average Import Price of NPK Fertilizers in Vietnam (2021-2024)
- Top 10 Sources of NPK Fertilizers Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of NPK Fertilizers in Vietnam and Their Supply Volume
- Top 10 Importers of NPK Fertilizers in Vietnam and Their Import Volume
- How to Find Distributors and End Users of NPK Fertilizers in Vietnam
- How Foreign Enterprises Enter the NPK Fertilizers Market of Vietnam
- Forecast for the Import of NPK Fertilizers in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- YARA ASIA PTE LTD
- BEHN MEYER AGCARE LLP
- FERSOL LIMITED (DMCC BRANCH)
- YARA VIETNAM CO LTD
- BEHN MEYER AGRICARE VIETNAM CO LTD
- TUONG NGUYEN IMPORT EXPORT TRADING
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 | November 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 200 Million |
| Forecasted Market Value ( USD | $ 416.77 Million |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
