Slovakia: Sodium Nitrate Market 2023

Sodium Nitrate Market Size in Slovakia

In 2021, after three years of decline, there was significant growth in the Slovak sodium nitrate market, when its value increased by 96% to $X. In general, consumption posted a slight expansion. Sodium nitrate consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Sodium Nitrate Exports

Exports from Slovakia

In 2020, overseas shipments of sodium nitrate increased by 81% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 452% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2020, the exports remained at a lower figure.

In value terms, sodium nitrate exports soared to $X in 2020. Over the period under review, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 268% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for sodium nitrate exports from Slovakia, with a 97% share of total exports. It was followed by Hungary (X kg), with a 2.9% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to the Czech Republic totaled +16.8%.

In value terms, the Czech Republic ($X) emerged as the key foreign market for sodium nitrate exports from Slovakia, comprising 98% of total exports. The second position in the ranking was taken by Hungary ($X), with a 2% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of value to the Czech Republic was relatively modest.

Export Prices by Country

The average sodium nitrate export price stood at $X per ton in 2020, reducing by -8.1% against the previous year. Overall, the export price, however, showed notable growth. The pace of growth was the most pronounced in 2013 an increase of 157%. The export price peaked at $X per ton in 2018; however, from 2019 to 2020, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2020, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Hungary amounted to $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+8.3%).

Sodium Nitrate Imports

Imports into Slovakia

After three years of decline, overseas purchases of sodium nitrate increased by 98% to X tons in 2021. Overall, imports enjoyed a pronounced increase. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, sodium nitrate imports soared to $X in 2021. In general, imports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2014 with an increase of 83%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of sodium nitrate to Slovakia, with a 72% share of total imports. Moreover, sodium nitrate imports from Poland exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fourfold. The third position in this ranking was held by Hungary (X tons), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from Poland totaled +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+11.7% per year) and Hungary (+43.3% per year).

In value terms, Poland ($X), the Czech Republic ($X) and Hungary ($X) constituted the largest sodium nitrate suppliers to Slovakia, with a combined 87% share of total imports.

Among the main suppliers, Hungary, with a CAGR of +32.3%, 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 2021, the average sodium nitrate import price amounted to $X per ton, declining by -21.2% against the previous year. Overall, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 9.6%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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