Asia: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in Asia

In 2023, the Asian sodium nitrate market decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. In general, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2022, and then reduced in the following year.

Sodium Nitrate Production in Asia

In value terms, sodium nitrate production rose slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

Sodium Nitrate Exports

Exports in Asia

In 2023, the amount of sodium nitrate exported in Asia declined modestly to X tons, which is down by X% compared with the year before. Overall, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, sodium nitrate exports fell to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

China was the main exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by South Korea (X tons), achieving an X% share of total exports. Iran (X tons) and Uzbekistan (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Iran (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Uzbekistan (X%) illustrated a downward trend over the same period. South Korea (X p.p.), Iran (X p.p.) and Uzbekistan (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, China ($X) remains the largest sodium nitrate supplier in Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, which is down by X% against the previous year. Export price indicated mild growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sodium nitrate export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Sodium Nitrate Imports

Imports in Asia

After three years of growth, overseas purchases of sodium nitrate decreased by X% to X tons in 2023. Total imports indicated notable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2022, and then fell markedly in the following year.

In value terms, sodium nitrate imports dropped sharply to $X in 2023. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2023, the United Arab Emirates (X tons), distantly followed by Japan (X tons), Pakistan (X tons), Vietnam (X tons), South Korea (X tons), Kazakhstan (X tons) and Thailand (X tons) were the key importers of sodium nitrate, together constituting X% of total imports. Indonesia (X tons), Turkey (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United Arab Emirates ($X) and Pakistan ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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

The import price in Asia stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Import price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sodium nitrate import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2023 and is likely to see gradual growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform