China: Sodium Nitrate Market 2023

Sodium Nitrate Market Size in China

In 2021, the Chinese sodium nitrate market increased by 35% to $X, rising for the third consecutive year after two years of decline. Overall, consumption continues to indicate a prominent expansion. Sodium nitrate consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Sodium Nitrate Production in China

In value terms, sodium nitrate production totaled $X in 2021 estimated in export price. In general, production recorded a mild decline. The pace of growth appeared the most rapid in 2016 with an increase of 29%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Sodium Nitrate Exports

Exports from China

In 2021, overseas shipments of sodium nitrate decreased by -17.1% to X tons, falling for the third consecutive year after two years of growth. In general, exports showed a pronounced shrinkage. The growth pace was the most rapid in 2017 when exports increased by 31%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, sodium nitrate exports dropped to $X in 2021. Overall, exports continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2018 with an increase of 16% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for sodium nitrate exports from China, with a 47% share of total exports. Moreover, sodium nitrate exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), sixfold. Pakistan (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.9% per year) and Pakistan (+2.3% per year).

In value terms, Malaysia ($X) remains the key foreign market for sodium nitrate exports from China, comprising 43% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9% share of total exports. It was followed by Pakistan, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia totaled +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.3% per year) and Pakistan (+0.2% per year).

Export Prices by Country

In 2021, the average sodium nitrate export price amounted to $X per ton, increasing by 20% against the previous year. In general, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 56% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Nitrate Imports

Imports into China

In 2021, supplies from abroad of sodium nitrate decreased by -1.3% to X tons, falling for the fifth year in a row after two years of growth. In general, imports faced a abrupt descent. The pace of growth was the most pronounced in 2016 when imports increased by 101% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, sodium nitrate imports declined to $X in 2021. Over the period under review, imports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2016 with an increase of 32%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) was the main sodium nitrate supplier to China, accounting for a 99% share of total imports. It was followed by Chile (X kg), with a 0.2% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled -3.3%.

In value terms, Germany ($X) constituted the largest supplier of sodium nitrate to China, comprising 99% of total imports. The second position in the ranking was held by Chile ($X), with a 0.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +9.4%.

Import Prices by Country

The average sodium nitrate import price stood at $X per ton in 2021, declining by -8.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 87% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while the price for Germany amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+58.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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