CIS: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in CIS

In 2022, the CIS nitric and sulphonitric acids market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in CIS

In value terms, nitric and sulphonitric acids production contracted slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in CIS

In 2022, approx. X tons of nitric acid and sulphonitric acids were exported in the CIS; increasing by X% compared with 2021. In general, exports, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X tons) and Belarus (X tons) were the major exporters of nitric acid and sulphonitric acids in 2022, recording approx. X% and X% of total exports, respectively. It was distantly followed by Uzbekistan (X tons), creating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Russia ($X), Belarus ($X) and Uzbekistan ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Belarus, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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

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

Imports of Nitric Acid And Sulphonitric Acids

Imports in CIS

In 2022, purchases abroad of nitric acid and sulphonitric acids increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids imports soared to $X in 2022. Over the period under review, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Kazakhstan (X tons) represented the key importer of nitric acid and sulphonitric acids, constituting X% of total imports. Kyrgyzstan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Azerbaijan (X%) and Armenia (X%). The following importers - Tajikistan (X tons) and Moldova (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to nitric and sulphonitric acids imports into Kazakhstan stood at X%. At the same time, Tajikistan (X%), Azerbaijan (X%), Kyrgyzstan (X%), Armenia (X%) and Moldova (X%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. While the share of Kazakhstan (X p.p.) and Tajikistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Armenia (X p.p.), Moldova (X p.p.) and Kyrgyzstan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported nitric acid and sulphonitric acids in the CIS, comprising X% of total imports. The second position in the ranking was held by Kyrgyzstan ($X), with a X% share of total imports. It was followed by Azerbaijan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Kyrgyzstan (X% per year) and Azerbaijan (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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