Asia: Nitrites Market 2024

Nitrites Market Size in Asia

For the third year in a row, the Asian nitrites market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Nitrites Production in Asia

In value terms, nitrites production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

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Nitrites Exports

Exports in Asia

In 2022, nitrites exports in Asia declined modestly to X tons, approximately mirroring the previous year's figure. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, nitrites exports surged to $X in 2022. Total exports indicated pronounced growth 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China represented the key exporter of nitrites in Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by India (X tons), making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nitrites exports from China stood at X%. At the same time, India (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. India (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest nitrites supplying countries in Asia were China ($X) and India ($X).

Among the main exporting countries, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a pronounced increase 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 export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2016 when the export price increased by X%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Nitrites Imports

Imports in Asia

In 2022, approx. X tons of nitrites were imported in Asia; declining by X% compared with the previous year. Overall, imports showed a perceptible reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, nitrites imports expanded rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of nitrites imports in 2022 were India (X tons), Japan (X tons) and South Korea (X tons), together resulting at X% of total import. Taiwan (Chinese) (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%) and Thailand (X%). Turkey (X tons), the United Arab Emirates (X tons), Pakistan (X tons), Vietnam (X tons) and Malaysia (X tons) followed a long way behind the leaders.

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

In value terms, the largest nitrites importing markets in Asia were India ($X), Japan ($X) and South Korea ($X), together accounting for X% of total imports. Taiwan (Chinese), Indonesia, Turkey, Thailand, the United Arab Emirates, Pakistan, Malaysia and Vietnam lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, rising by X% against the previous year. Import price indicated a temperate expansion 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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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