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Isocyanates and other nitrogen compounds: top exporters and importers (2024)

In 2024, world trade in isocyanates and other nitrogen compounds totaled $5.9 billion (2.4 million tonnes). The top exporters were China (23%), South Korea (17%) and Germany (13%); the top importers were China (7%), India (6%) and Brazil (5%). Compared with 2019, the value rose 6%.

Summary

World trade
$5.9billion
Tonnes
2.4million tonnes
Price per tonne
$2,526
The largest flows between countries. Width: value; color: estimated transport mode.SeaAirLand

Top exporters

  1. China$1.4 billion · 23.3%
  2. South Korea$983 million · 16.5%
  3. Germany$774 million · 13%
  4. Hungary$640 million · 10.8%
  5. Japan$497 million · 8.4%
  6. United States$496 million · 8.4%
  7. Saudi Arabia$284 million · 4.8%
  8. Belgium$230 million · 3.9%
    re-exports
  9. Netherlands$165 million · 2.8%
    re-exports
  10. France$83 million · 1.4%
  11. Spain$68 million · 1.1%
  12. United Kingdom$36 million · 0.61%
  13. India$35 million · 0.59%
  14. Thailand$32 million · 0.53%
  15. Italy$29 million · 0.49%
  16. Turkey$29 million · 0.49%
  17. Taiwan$22 million · 0.37%
  18. Canada$15 million · 0.26%
  19. Poland$15 million · 0.25%
  20. Russia$12 million · 0.2%

Top importers

  1. China$410 million · 6.9%
  2. India$337 million · 5.7%
  3. Brazil$322 million · 5.4%
  4. Turkey$296 million · 5%
  5. United States$294 million · 5%
  6. Belgium$290 million · 4.9%
    re-exports
  7. Italy$259 million · 4.4%
  8. Vietnam$228 million · 3.8%
  9. Germany$214 million · 3.6%
  10. Taiwan$185 million · 3.1%
  11. Japan$169 million · 2.8%
  12. Poland$161 million · 2.7%
  13. Indonesia$147 million · 2.5%
  14. Russia$145 million · 2.5%
  15. Mexico$139 million · 2.3%
  16. Spain$124 million · 2.1%
  17. United Arab Emirates$108 million · 1.8%
  18. Canada$103 million · 1.7%
  19. South Korea$102 million · 1.7%
  20. Netherlands$94 million · 1.6%
    re-exports

Trend

Who sells it

China has been the top exporter since 2021

Value in USD billions. The five largest exporters in 2024.

  • China 1.4
  • South Korea 0.98
  • Germany 0.77
  • Hungary 0.64
  • Japan 0.5

Source: CEPII BACI

Show the numbers
Country19952024
China0.021.4
South Korea0.050.98
Germany0.630.77
Hungary0.040.64
Japan0.40.5

Price

Implied price

The price per tonne stayed close to $2,526 since 1995

Current US dollars per tonne: value over the weight reported by BACI.

  • 2024: $2,526

Source: CEPII BACI

Show the numbers
YearUSD per tonne
1995$2,595
1996$2,756
1997$2,304
1998$2,202
1999$2,043
2000$2,086
2001$1,974
2002$1,795
2003$2,000
2004$2,054
2005$2,356
2006$2,705
2007$3,244
2008$3,604
2009$2,724
2010$2,633
2011$2,987
2012$3,004
2013$3,013
2014$2,894
2015$2,346
2016$2,276
2017$3,250
2018$3,662
2019$2,421
2020$2,281
2021$3,043
2022$3,412
2023$2,934
2024$2,526

What it includes

  • 2929 · Isocyanates and other nitrogen compounds

Products in the same chapter

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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