Azerbaijan: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in Azerbaijan

After seven years of decline, the Azerbaijani hydrogen chloride market increased by 5.2% to $X in 2021. In general, consumption, however, showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Hydrogen Chloride Production in Azerbaijan

In value terms, hydrogen chloride production rose to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible descent. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hydrogen Chloride Exports

Exports from Azerbaijan

In 2021, approx. X tons of hydrogen chloride (hydrochloric acid) were exported from Azerbaijan; rising by 2.9% on the year before. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 923% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, hydrogen chloride exports reached $X in 2021. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 883% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Georgia (X tons) was the main destination for hydrogen chloride exports from Azerbaijan, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Georgia amounted to +41.7%.

In value terms, Georgia ($X) also remains the key foreign market for hydrogen chloride (hydrochloric acid) exports from Azerbaijan.

From 2012 to 2021, the average annual growth rate of value to Georgia amounted to +34.5%.

Export Prices by Country

In 2021, the average hydrogen chloride export price amounted to $X per ton, dropping by -2.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2012 to 2021, the rate of growth in terms of prices for Georgia amounted to -5.1% per year.

Hydrogen Chloride Imports

Imports into Azerbaijan

In 2021, hydrogen chloride imports into Azerbaijan soared to X tons, with an increase of 17% against 2020. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% 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 +72.9% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 42%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, hydrogen chloride imports rose rapidly to $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +153.9% against 2015 indices. The pace of growth was the most pronounced in 2016 when imports increased by 58% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Russia (X tons) constituted the largest hydrogen chloride supplier to Azerbaijan, with a 56% share of total imports. Moreover, hydrogen chloride imports from Russia exceeded the figures recorded by the second-largest supplier, Iran (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+16.4% per year) and Turkey (+15.7% per year).

In value terms, Turkey ($X), Russia ($X) and Iran ($X) appeared to be the largest hydrogen chloride suppliers to Azerbaijan, together accounting for 93% of total imports.

Turkey, with a CAGR of +30.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hydrogen chloride import price stood at $X per ton in 2021, which is down by -7.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 53%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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 Turkey ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+12.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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