Brazil: Nitrites Market 2024

Nitrites Market Size in Brazil

In 2021, the Brazilian nitrites market increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a noticeable downturn. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Nitrites Exports

Exports from Brazil

In 2021, overseas shipments of nitrites decreased by -31.3% to X tons for the first time since 2015, thus ending a five-year rising trend. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 186%. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, nitrites exports fell rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 153%. Over the period under review, the exports hit record highs at $X in 2020, and then fell markedly in the following year.

Exports by Country

Argentina (X tons) was the main destination for nitrites exports from Brazil, accounting for a 76% share of total exports. Moreover, nitrites exports to Argentina exceeded the volume sent to the second major destination, Paraguay (X tons), ninefold. Bolivia (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina amounted to +76.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+3.3% per year) and Bolivia (+65.4% per year).

In value terms, Argentina ($X) emerged as the key foreign market for nitrites exports from Brazil, comprising 57% of total exports. The second position in the ranking was held by Paraguay ($X), with an 18% share of total exports. It was followed by Cuba, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina amounted to +49.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-0.5% per year) and Cuba (-5.1% per year).

Export Prices by Country

The average nitrites export price stood at $X per ton in 2021, dropping by -35.7% against the previous year. Over the period under review, the export price saw a abrupt setback. The pace of growth was the most pronounced in 2015 an increase of 30%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Argentina ($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 Liberia (+44.2%), while the prices for the other major destinations experienced mixed trend patterns.

Nitrites Imports

Imports into Brazil

In 2021, supplies from abroad of nitrites was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 51%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, nitrites imports soared to $X in 2021. In general, imports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 84%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of nitrites to Brazil, accounting for a 81% share of total imports. Moreover, nitrites imports from Germany exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold. China (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+26.6% per year) and China (-10.7% per year).

In value terms, Germany ($X) constituted the largest supplier of nitrites to Brazil, comprising 78% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by China, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+25.0% per year) and China (-6.6% per year).

Import Prices by Country

The average nitrites import price stood at $X per ton in 2021, rising by 16% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 22%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Russia ($X per ton) and India ($X per ton), while the price for Germany ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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