MENA: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in MENA

In 2023, after three years of growth, there was significant decline in the MENA's sodium nitrate market, when its value decreased by X% to $X. Over the period under review, consumption, however, posted a buoyant increase. The level of consumption peaked at $X in 2022, and then contracted markedly in the following year.

Sodium Nitrate Production in MENA

In value terms, sodium nitrate production soared to $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Sodium Nitrate Exports

Exports in MENA

In 2023, exports of sodium nitrate in MENA stood at X tons, surging by X% compared with the previous year's figure. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, sodium nitrate exports contracted slightly to $X in 2023. In general, exports saw a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2022, and then fell modestly in the following year.

Exports by Country

In 2023, Iran (X tons) was the main exporter of sodium nitrate, constituting X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Turkey (X%).

Iran was also the fastest-growing in terms of the sodium nitrate exports, with a CAGR of X% from 2012 to 2023. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2023, the share of Iran increased by X percentage points.

In value terms, Iran ($X) remains the largest sodium nitrate supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Iran stood at X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2023, the export prices remained at a lower figure.

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 Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Sodium Nitrate Imports

Imports in MENA

In 2023, purchases abroad of sodium nitrate decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, sodium nitrate imports contracted significantly to $X in 2023. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then declined dramatically in the following year.

Imports by Country

In 2023, the United Arab Emirates (X tons) represented the key importer of sodium nitrate, making up X% of total imports. It was distantly followed by Turkey (X tons), creating a X% share of total imports. Egypt (X tons) took a minor share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the sodium nitrate imports, with a CAGR of X% from 2012 to 2023. At the same time, Egypt (X%) and Turkey (X%) displayed positive paces of growth. From 2012 to 2023, the share of the United Arab Emirates and Egypt increased by X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sodium nitrate in MENA, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports.

In the United Arab Emirates, sodium nitrate imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Egypt (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform