Benelux: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Benelux

After two years of decline, the Benelux nitric and sulphonitric acids market increased by 13% to $X in 2021. In general, consumption showed a pronounced slump. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Nitric Acid And Sulphonitric Acids in Benelux

In value terms, nitric and sulphonitric acids production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a slight reduction. The pace of growth was the most pronounced in 2013 with an increase of 40%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Benelux

In 2021, shipments abroad of nitric acid and sulphonitric acids increased by 32% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids exports surged to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.4% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium was the largest exporter of nitric acid and sulphonitric acids in Benelux, with the volume of exports finishing at X tons, which was near 88% of total exports in 2021. It was distantly followed by the Netherlands (X tons), generating a 12% share of total exports.

Belgium was also the fastest-growing in terms of the nitric acid and sulphonitric acids exports, with a CAGR of +5.7% from 2012 to 2021. At the same time, the Netherlands (+3.5%) displayed positive paces of growth. From 2012 to 2021, the share of Belgium increased by +2.1 percentage points.

In value terms, Belgium ($X) remains the largest nitric and sulphonitric acids supplier in Benelux, comprising 87% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 13% share of total exports.

In Belgium, nitric and sulphonitric acids exports increased at an average annual rate of +4.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Benelux amounted to $X per ton, picking up by 29% against the previous year. Over the period under review, the export price, however, recorded a slight decline. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%).

Imports of Nitric Acid And Sulphonitric Acids

Imports in Benelux

In 2021, imports of nitric acid and sulphonitric acids in Benelux surged to X tons, jumping by 36% compared with 2020 figures. Total imports indicated a measured expansion from 2012 to 2021: its volume 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, imports increased by +75.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 52%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2021. Overall, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) was the largest importer of nitric acid and sulphonitric acids, committing 74% of total imports. It was distantly followed by the Netherlands (X tons), mixing up a 26% share of total imports.

Belgium was also the fastest-growing in terms of the nitric acid and sulphonitric acids imports, with a CAGR of +5.3% from 2012 to 2021. The Netherlands (-1.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belgium increased by +13 percentage points.

In value terms, Belgium ($X) constitutes the largest market for imported nitric acid and sulphonitric acids in Benelux, comprising 73% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 27% share of total imports.

In Belgium, nitric and sulphonitric acids imports increased at an average annual rate of +7.5% over the period from 2012-2021.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2021, with an increase of 28% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.1%).

Source: IndexBox Platform