Australia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Australia

The Australian nitric and sulphonitric acids market contracted to $X in 2021, shrinking by -6% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in Australia

In value terms, nitric and sulphonitric acids production dropped to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 28%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Australia

In 2021, approx. X tons of nitric acid and sulphonitric acids were exported from Australia; which is down by -17.1% on the previous year's figure. Over the period under review, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when exports increased by 42%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports fell sharply to $X in 2021. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 33% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), Papua New Guinea (X tons) and Germany (X tons) were the main destinations of nitric and sulphonitric acids exports from Australia, together comprising 25% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +38.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Papua New Guinea ($X) and Mali ($X) appeared to be the largest markets for nitric and sulphonitric acids exported from Australia worldwide, together comprising 55% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +35.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2021, which is down by -11.9% against the previous year. Over the period under review, the export price saw a mild contraction. The most prominent rate of growth was recorded in 2019 an increase of 42%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Australia

In 2021, supplies from abroad of nitric acid and sulphonitric acids decreased by -13.7% to X tons, falling for the second consecutive year after four years of growth. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2021. In general, imports showed a noticeable decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of nitric and sulphonitric acids to Australia, with a 52% share of total imports. Moreover, nitric and sulphonitric acids imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-13.0% per year) and Malaysia (-12.7% per year).

In value terms, China ($X), Thailand ($X) and the United States ($X) were the largest nitric and sulphonitric acids suppliers to Australia, together accounting for 71% of total imports.

Among the main suppliers, China, with a CAGR of +34.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, jumping by 41% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitric and sulphonitric acids import price increased by +95.2% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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