China: Sodium Nitrate Market 2023

Sodium Nitrate Market Size in China

After three years of growth, the Chinese sodium nitrate market decreased by -12.4% to $X in 2022. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Sodium Nitrate Production in China

In value terms, sodium nitrate production dropped modestly to $X in 2022 estimated in export price. In general, production, however, saw a mild descent. The pace of growth appeared the most rapid in 2016 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Sodium Nitrate Exports

Exports from China

In 2022, after three years of decline, there was significant growth in shipments abroad of sodium nitrate, when their volume increased by 9.7% to X tons. Overall, exports, however, continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 31% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, sodium nitrate exports skyrocketed to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Vietnam (X tons) and Pakistan (X tons) were the main destinations of sodium nitrate exports from China, with a combined 42% share of total exports. Thailand, Nigeria, India, South Korea, Indonesia, Kazakhstan, Turkey, Japan, Myanmar and Peru lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +116.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sodium nitrate exported from China were Malaysia ($X), Vietnam ($X) and Pakistan ($X), with a combined 39% share of total exports. Thailand, Nigeria, India, South Korea, Indonesia, Japan, Kazakhstan, Turkey, Myanmar and Peru lagged somewhat behind, together accounting for a further 40%.

Myanmar, with a CAGR of +113.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sodium nitrate export price stood at $X per ton in 2022, with an increase of 40% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium nitrate export price increased by +68.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 56%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Kazakhstan ($X per ton), while the average price for exports to Vietnam ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Nitrate Imports

Imports into China

In 2022, purchases abroad of sodium nitrate decreased by -37.5% to X tons, falling for the sixth consecutive year after two years of growth. In general, imports faced a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 101%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, sodium nitrate imports surged to $X in 2022. Over the period under review, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 32%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) was the main sodium nitrate supplier to China, with a 99% share of total imports. It was followed by Japan (X kg), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled -7.5%.

In value terms, Germany ($X) constituted the largest supplier of sodium nitrate to China, comprising 99% of total imports. The second position in the ranking was taken by Japan ($X), with a 1.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +10.0%.

Import Prices by Country

The average sodium nitrate import price stood at $X per ton in 2022, increasing by 86% against the previous year. Overall, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 87% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Germany stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+58.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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