SADC: Nitrates Market 2024

Nitrates Market Size in SADC

After three years of growth, the SADC nitrates market decreased by X% to $X in 2022. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2013 indices. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Nitrates Production in SADC

In value terms, nitrates production fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Nitrates Exports

Exports in SADC

In 2022, approx. X tons of nitrates (excluding those of potassium) were exported in SADC; rising by X% against 2021 figures. In general, exports, however, continue to indicate a pronounced slump. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, nitrates exports surged to $X in 2022. Overall, exports posted a mild increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. Swaziland (X tons) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the nitrates (excluding those of potassium) exports, with a CAGR of X% from 2012 to 2022. Swaziland (X%) illustrated a downward trend over the same period. While the share of Swaziland (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest nitrates supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Swaziland ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at X%.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price, however, continues to indicate prominent growth. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then dropped notably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while South Africa totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Nitrates Imports

Imports in SADC

In 2022, purchases abroad of nitrates (excluding those of potassium) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, nitrates imports declined markedly to $X in 2022. In general, imports showed a perceptible reduction. The pace of growth was the most pronounced in 2015 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. Angola (X tons) and Democratic Republic of the Congo (X tons) followed a long way behind the leaders.

South Africa was also the fastest-growing in terms of the nitrates (excluding those of potassium) imports, with a CAGR of X% from 2012 to 2022. Democratic Republic of the Congo experienced a relatively flat trend pattern. Angola (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.) and Democratic Republic of the Congo (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Angola (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) constitutes the largest market for imported nitrates (excluding those of potassium) in SADC, comprising X% of total imports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa totaled X%. In the other countries, the average annual rates were as follows: Democratic Republic of the Congo (X% per year) and Angola (X% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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