Central Asia: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in Central Asia

The Central Asian sodium nitrate market soared to $X in 2022, with an increase of 29% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sodium Nitrate Production in Central Asia

In value terms, sodium nitrate production rose to $X in 2022 estimated in export price. Over the period under review, production posted resilient growth. The growth pace was the most rapid in 2017 when the production volume increased by 77% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sodium Nitrate Exports

Exports in Central Asia

In 2022, overseas shipments of sodium nitrate increased by 34% to X tons, rising for the second consecutive year after three years of decline. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 6,156%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, sodium nitrate exports skyrocketed to $X in 2022. In general, exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2017 when exports increased by 4,245% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Uzbekistan (X tons) represented roughly 100% of total exports in 2022.

Uzbekistan was also the fastest-growing in terms of the sodium nitrate exports, with a CAGR of +13.9% from 2012 to 2022. While the share of Uzbekistan (+99 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) also remains the largest sodium nitrate supplier in Central Asia.

In Uzbekistan, sodium nitrate exports increased at an average annual rate of +20.3% over the period from 2012-2022.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2022, growing by 28% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Uzbekistan amounted to +5.6% per year.

Sodium Nitrate Imports

Imports in Central Asia

In 2022, supplies from abroad of sodium nitrate increased by 54% to X tons, rising for the second consecutive year after five years of decline. Overall, imports, however, continue to indicate a mild shrinkage. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sodium nitrate imports surged to $X in 2022. Over the period under review, imports, however, recorded a perceptible slump. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Kazakhstan (X tons) represented the main importer of sodium nitrate, achieving 82% of total imports. Mongolia (X tons) took the second position in the ranking, followed by Tajikistan (X tons). All these countries together took near 16% share of total imports. Kyrgyzstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sodium nitrate imports into Kazakhstan stood at +3.4%. At the same time, Tajikistan (+14.1%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +14.1% from 2012-2022. By contrast, Mongolia (-10.4%) and Kyrgyzstan (-12.3%) illustrated a downward trend over the same period. Kazakhstan (+30 p.p.) and Tajikistan (+4.1 p.p.) significantly strengthened its position in terms of the total imports, while Kyrgyzstan and Mongolia saw its share reduced by -5.5% and -17.4% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported sodium nitrate in Central Asia, comprising 79% of total imports. The second position in the ranking was held by Mongolia ($X), with a 14% share of total imports. It was followed by Tajikistan, with a 5.1% share.

In Kazakhstan, sodium nitrate imports increased at an average annual rate of +3.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (-9.3% per year) and Tajikistan (+15.3% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, growing by 5.2% against the previous year. Over the period under review, the import price, however, recorded a mild reduction. The pace of growth was the most pronounced in 2013 when the import price increased by 8%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mongolia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mongolia (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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