U.S.: Sodium Nitrate Market 2023

Sodium Nitrate Market Size in the U.S.

In 2021, after two years of growth, there was significant decline in the U.S. sodium nitrate market, when its value decreased by -30.5% to $X. Overall, consumption faced a sharp contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Sodium Nitrate Exports

Exports from the U.S.

In 2021, overseas shipments of sodium nitrate were finally on the rise to reach X tons after three years of decline. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sodium nitrate exports surged to $X in 2021. The total export value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 36%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Canada (X tons) and Mexico (X tons) were the main destinations of sodium nitrate exports from the United States.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +8.5%).

In value terms, the largest markets for sodium nitrate exported from the United States were Canada ($X) and Mexico ($X).

Canada, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average sodium nitrate export price stood at $X per ton in 2021, falling by -15.4% against the previous year. Over the period under review, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by 20% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Mexico totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.7%).

Sodium Nitrate Imports

Imports into the U.S.

In 2021, the amount of sodium nitrate imported into the United States shrank remarkably to X tons, with a decrease of -15.2% on 2020 figures. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 121% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, sodium nitrate imports contracted to $X in 2021. In general, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 12%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Chile (X tons) constituted the largest supplier of sodium nitrate to the United States, with a 80% share of total imports. Moreover, sodium nitrate imports from Chile exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from Chile amounted to -19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.4% per year) and China (-44.6% per year).

In value terms, Chile ($X) constituted the largest supplier of sodium nitrate to the United States, comprising 79% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Chile stood at -16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.8% per year) and China (-29.8% per year).

Import Prices by Country

In 2021, the average sodium nitrate import price amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sodium nitrate import price decreased by -2.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 44% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+26.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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