Latin America and the Caribbean: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Latin America and the Caribbean

The Latin American nitric and sulphonitric acids market reduced to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption, however, saw a perceptible decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Latin America and the Caribbean

In value terms, nitric and sulphonitric acids production declined to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Nitric Acid And Sulphonitric Acids

Exports in Latin America and the Caribbean

In 2022, the amount of nitric acid and sulphonitric acids exported in Latin America and the Caribbean rose sharply to X tons, growing by X% compared with 2021 figures. Overall, exports posted buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, nitric and sulphonitric acids exports surged to $X in 2022. In general, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile represented the key exporting country with an export of about X tons, which reached X% of total exports. Brazil (X tons) ranks second in terms of the total exports with a X% share, followed by Argentina (X%) and Colombia (X%).

Chile was also the fastest-growing in terms of the nitric acid and sulphonitric acids exports, with a CAGR of X% from 2012 to 2022. At the same time, Brazil (X%), Colombia (X%) and Argentina (X%) displayed positive paces of growth. Chile (X p.p.) significantly strengthened its position in terms of the total exports, while Colombia, Argentina and Brazil saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Chile ($X) remains the largest nitric and sulphonitric acids supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Argentina, with a X% share.

In Chile, nitric and sulphonitric acids exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Argentina (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, showed a mild contraction. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

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

Imports of Nitric Acid And Sulphonitric Acids

Imports in Latin America and the Caribbean

In 2022, approx. X tons of nitric acid and sulphonitric acids were imported in Latin America and the Caribbean; rising by X% compared with the year before. Overall, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids imports soared to $X in 2022. Over the period under review, imports posted a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ecuador (X tons), Brazil (X tons), Peru (X tons) and Mexico (X tons) was the major importer of nitric acid and sulphonitric acids in Latin America and the Caribbean, making up X% of total import. It was distantly followed by Suriname (X tons), generating a X% share of total imports. The following importers - Uruguay (X tons), the Dominican Republic (X tons) and Costa Rica (X tons) - together made up X% of total imports.

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

In value terms, the largest nitric and sulphonitric acids importing markets in Latin America and the Caribbean were Ecuador ($X), Suriname ($X) and Peru ($X), with a combined X% share of total imports. Brazil, Mexico, Uruguay, the Dominican Republic and Costa Rica lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. 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 Suriname ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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