Australia: Nitrites Market 2024

Nitrites Market Size in Australia

For the third year in a row, the Australian nitrites market recorded growth in sales value, which increased by 32% to $X in 2021. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +113.3% against 2016 indices. Nitrites consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Nitrites Exports

Exports from Australia

In 2021, shipments abroad of nitrites decreased by -37.2% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 221%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrites exports declined markedly to $X in 2021. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 255% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X tons) was the main destination for nitrites exports from Australia, accounting for a 56% share of total exports. Moreover, nitrites exports to Egypt exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. New Zealand (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt amounted to +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+285.5% per year) and New Zealand (-10.1% per year).

In value terms, Egypt ($X) remains the key foreign market for nitrites exports from Australia, comprising 63% of total exports. The second position in the ranking was held by Indonesia ($X), with a 23% share of total exports. It was followed by New Zealand, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt amounted to +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+153.1% per year) and New Zealand (-9.6% per year).

Export Prices by Country

In 2021, the average nitrites export price amounted to $X per ton, reducing by -16.3% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrites export price decreased by -25.5% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 42%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Solomon Islands ($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 New Zealand (+0.5%), while the prices for the other major destinations experienced a decline.

Nitrites Imports

Imports into Australia

For the third consecutive year, Australia recorded growth in supplies from abroad of nitrites, which increased by 5.2% to X tons in 2021. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.7% against 2016 indices. The growth pace was the most rapid in 2017 when imports increased by 45%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, nitrites imports soared to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +166.2% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 76%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Belgium (X tons), Russia (X tons) and China (X tons) were the main suppliers of nitrites imports to Australia, together comprising 80% of total imports. The Netherlands, Germany and Malaysia lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +101.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Belgium ($X) and China ($X) appeared to be the largest nitrites suppliers to Australia, with a combined 81% share of total imports.

Among the main suppliers, Russia, with a CAGR of +65.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nitrites import price amounted to $X per ton, with an increase of 18% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2017 an increase of 21% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and Russia ($X per ton), while the price for China ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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