Azerbaijan: Sodium Nitrate Market 2023

Sodium Nitrate Market Size in Azerbaijan

After three years of decline, the Azerbaijani sodium nitrate market increased by 1.9% to $X in 2021. In general, consumption, however, continues to indicate a abrupt setback. Sodium nitrate consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Sodium Nitrate Imports

Imports into Azerbaijan

In 2021, supplies from abroad of sodium nitrate was finally on the rise to reach X tons after three years of decline. Overall, imports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2017 with an increase of 436%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, sodium nitrate imports rose slightly to $X in 2021. In general, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 513%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest sodium nitrate supplier to Azerbaijan, with a 84% share of total imports. Moreover, sodium nitrate imports from Ukraine exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sixfold. The third position in this ranking was held by China (X kg), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from Ukraine was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-18.0% per year) and China (-13.5% per year).

In value terms, Ukraine ($X) constituted the largest supplier of sodium nitrate to Azerbaijan, comprising 83% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by China, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-17.0% per year) and China (-7.5% per year).

Import Prices by Country

The average sodium nitrate import price stood at $X per ton in 2021, rising by 2.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 19%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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