Central Asia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Central Asia

The Central Asian nitric and sulphonitric acids market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Nitric Acid And Sulphonitric Acids in Central Asia

In value terms, nitric and sulphonitric acids production surged to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Central Asia

Nitric and sulphonitric acids exports fell dramatically to X tons in 2021, with a decrease of -38.9% on the year before. Over the period under review, exports showed a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 136% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports expanded markedly to $X in 2021. Overall, exports saw a deep reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 131%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of nitric acid and sulphonitric acids, namely Uzbekistan, represented more than two-thirds of total export.

Uzbekistan was also the fastest-growing in terms of the nitric acid and sulphonitric acids exports, with a CAGR of -18.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) also remains the largest nitric and sulphonitric acids supplier in Central Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in Uzbekistan stood at -9.2%.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, jumping by 81% against the previous year. Over the period under review, the export price continues to indicate a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Uzbekistan amounted to +10.9% per year.

Imports of Nitric Acid And Sulphonitric Acids

Imports in Central Asia

In 2021, the amount of nitric acid and sulphonitric acids imported in Central Asia expanded markedly to X tons, with an increase of 10% compared with 2020. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% 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 +91.6% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 23%. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, nitric and sulphonitric acids imports rose slightly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 decreased by -2.5% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 25%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan (X tons) and Kyrgyzstan (X tons) represented roughly 70% of total imports in 2021. It was distantly followed by Mongolia (X tons) and Tajikistan (X tons), together mixing up a 26% share of total imports. Turkmenistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Tajikistan (with a CAGR of +53.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nitric and sulphonitric acids importing markets in Central Asia were Kazakhstan ($X), Kyrgyzstan ($X) and Mongolia ($X), with a combined 88% share of total imports. Tajikistan and Turkmenistan lagged somewhat behind, together accounting for a further 11%.

In terms of the main importing countries, Tajikistan, with a CAGR of +48.4%, saw 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 import price in Central Asia amounted to $X per ton, which is down by -6.5% against the previous year. Overall, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2014 an increase of 19%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mongolia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkmenistan (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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