Asia-Pacific: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Asia-Pacific

The Asia-Pacific nitric and sulphonitric acids market stood at $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Asia-Pacific

In value terms, nitric and sulphonitric acids production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Asia-Pacific

In 2022, shipments abroad of nitric acid and sulphonitric acids increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2022. Overall, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. China (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total exports.

South Korea 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, China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest nitric and sulphonitric acids supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

In South Korea, nitric and sulphonitric acids exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

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

Imports of Nitric Acid And Sulphonitric Acids

Imports in Asia-Pacific

Nitric and sulphonitric acids imports declined to X tons in 2022, remaining constant against the year before. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then dropped slightly in the following year.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2022. In general, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons), Japan (X tons), Thailand (X tons) and Malaysia (X tons) was the key importer of nitric acid and sulphonitric acids in Asia-Pacific, achieving X% of total import. Vietnam (X tons) took the next position in the ranking, followed by India (X tons). All these countries together held approx. X% share of total imports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (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 Asia-Pacific were Japan ($X), Malaysia ($X) and China ($X), with a combined X% share of total imports. Thailand, India, Indonesia and Vietnam lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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