Asia-Pacific: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in Asia-Pacific

In 2023, the Asia-Pacific sodium nitrate market decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. The total consumption indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2018 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Sodium Nitrate Production in Asia-Pacific

In value terms, sodium nitrate production rose modestly to $X in 2023 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Sodium Nitrate Exports

Exports in Asia-Pacific

In 2023, the amount of sodium nitrate exported in Asia-Pacific shrank modestly to X tons, which is down by X% against 2022 figures. In general, exports showed a mild reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, sodium nitrate exports dropped to $X in 2023. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China was the major exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by South Korea (X tons), achieving a X% share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of South Korea increased by X percentage points.

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

In China, sodium nitrate exports remained relatively stable over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, declining by X% against the previous year. Export price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sodium nitrate export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then reduced in the following year.

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 South Korea ($X per ton), while China stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%).

Sodium Nitrate Imports

Imports in Asia-Pacific

In 2023, after three years of growth, there was significant decline in purchases abroad of sodium nitrate, when their volume decreased by X% to X tons. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then declined significantly in the following year.

In value terms, sodium nitrate imports contracted to $X in 2023. Total imports indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Japan was the largest importer of sodium nitrate in Asia-Pacific, with the volume of imports reaching X tons, which was near X% of total imports in 2023. Pakistan (X tons) held the second position in the ranking, followed by Vietnam (X tons), Australia (X tons), South Korea (X tons), Thailand (X tons) and Indonesia (X tons). All these countries together took near X% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of sodium nitrate. At the same time, Pakistan (X%), Australia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Vietnam (X%), South Korea (X%) and Indonesia (X%) illustrated a downward trend over the same period. Pakistan (X p.p.), Australia (X p.p.) and Japan (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, South Korea and Indonesia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported sodium nitrate in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by Pakistan, with an X% share.

In Japan, sodium nitrate imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Australia (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, increasing by X% against the previous year. Import price indicated a temperate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sodium nitrate import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 an increase of X%. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform