ASEAN: Nitrites Market 2024

Nitrites Market Size in ASEAN

In 2022, the ASEAN nitrites market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Nitrites Production in ASEAN

In value terms, nitrites production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume decreased by X% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in years to come.

Nitrites Exports

Exports in ASEAN

In 2022, nitrites exports in ASEAN surged to X tons, with an increase of X% compared with the year before. In general, exports, however, continue to indicate a noticeable downturn. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, nitrites exports surged to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Singapore (X tons) and Malaysia (X tons) represented the largest exporters of nitrites in ASEAN, together creating X% of total exports. It was distantly followed by Thailand (X tons), mixing up an X% share of total exports. Vietnam (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest nitrites supplying countries in ASEAN were Malaysia ($X), Singapore ($X) and Thailand ($X), with a combined X% share of total exports. Vietnam lagged somewhat behind, accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by X% against the previous year. In general, the export price enjoyed a mild increase. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Nitrites Imports

Imports in ASEAN

Nitrites imports dropped to X tons in 2022, approximately equating the previous year's figure. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, nitrites imports skyrocketed to $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Thailand (X tons), Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) were the major importers of nitrites, together making up X% of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Malaysia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nitrites import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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