Fertilizer factsheet
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The document provides an overview of Vietnam's fertilizer market from 2010-2015. It finds that total fertilizer consumption reached approximately 10.8 million tons in 2014, with a growth rate of 4.2%. NPK fertilizer has the largest market share at around 37% of total consumption. While Vietnam now supplies most of its domestic fertilizer demand through domestic production, some nutrients like SA and potassium still rely entirely on imports. The fertilizer distribution system in Vietnam is fragmented with manufacturers, traders, distributors and agents all involved in distribution. The top ten listed fertilizer companies are also analyzed based on assets, revenue, EBITDA and returns.
Fertilizer factsheet
- 1. 5. KEY FEATURES 2. MARKET SIZE 1. MARKET SEGMENTATION Source: StoxPlus 13.3% 1.1% 1.0% 4.2% 4.0% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% 12,0% 14,0% 0 2000 4000 6000 8000 10000 12000 2010 2011 2012 2013 2014 2015 1000MT Market size Growth Rate Fertilizer Market Single nutrient fertilizer Potassium SA Urea DAP Multi nutrient fertilizer NPK Organic fertilizer Total fertilizer consumption reached approximately 10.8 million tons in 2014 with the growth rate of 4.2%. Main findings from our interviews with industry experts and sector analysts are concerned with the over-surplus situation of the market, as well as lowering prices due to the pervasion of cheap smuggled fertilizer from China. Since 2012, consumption of NPK in Vietnam has occupied the largest share of total fertilizer consumption in Vietnam market (more or less 37% of total fertilizer consumption at all types). From a country that has to import fertilizer, Vietnam has been able to supply domestic consumption of ferti- lizers: By establishing new factories and expanding current scale production, there is a significant increase in fertilizer production from approximately VND 5,370 thousand tons in 2009 to over 9 thousand tons in 2014. Meanwhile, total imported fertilizer is in a downward trend leading to a supply surplus for Urea, phosphate and NPK. However, SA and potassium still depend on imports entirely. Distribution system for fertilizer in Vietnam is very fragmented and regional-based: Fertilizer is distributed through a complicated and overlapping distribution system consisting of 4 major groups of players (fertilizer manufacturers, trading companies, distributors, and agents level 1,2 and 3). No players have a distribution network by themselves. Rather, they connect with different agents to distribute fertilizer products. Source: StoxPlus Market sizing by total consumption, 2010 – 2015F 4. KEY FINANCIALS OF TOP 10 PLAYERS (listed companies only) Vinachem 50% Baconco 5%Fivestar 8% Can Tho fertilizer & Chemical JSC 5% General materials biochemical Fertilizer JSC 9% Song Gianh Corporation 8% Quang Binh Agricultural Corporation 2% Apromaco 4% JVF 9% 3. MARKET SHARE Source: StoxPlus consolidated Market share of NPK Fertilizer sector by capacity of local manufacturers, as of 31/12/2014(thousand MT/year) Company Total assets (US$ million) Net Revenue (US$ million) EBITDA (US$ million) ROA ROE Phu My Fertilizer 472.37 446.10 72.71 10.48% 12.09% Petrolimex Petrochemical 167.17 318.06 19.85 8.08% 23.90% Binh Dien Fertilizer 139.50 297.93 23.52 7.77% 30.33% PetroVietnam Camau Fertilizer 772.89 282.37 118.45 5.32% 18.23% Lam Thao Fertilizers 123.81 232.89 31.21 16.15% 30.25% SouthEast PVFC 12.72 131.81 2.08 9.63% 18.34% Quang Binh Import And Export 72.89 124.04 4.63 6.48% 25.39% Petro Viet Nam Fertilizer and Chemical Southern West 12.55 119.05 2.12 12.68% 14.94% Central Petrovietnam Fertilizer and Chemicals 12.49 109.69 2.78 16.90% 27.55% The Southern Fertilizer 73.75 104.55 9.36 5.59% 17.15% Source: StoxPlus If you want to have further information, please contact person below: Research Ms. Lan Nguyen Senior Manager [email protected] +84(4) 35626962 (ext.109) Business Information Ms. Hue Vuong Managing Director [email protected] +84(8) 38233485 (ext.802) Financial Information Ms.Trang Truong Managing Director [email protected] +84(4) 35626962 (ext.114) Research Business Information Financial InformationResearch Business Information Financial Information Fertilizer FACT SHEET Dated September 25th 2015