Central Asia: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Central Asia

The Central Asian sulphuric acid market fell modestly to $X in 2022, declining by -3% against the previous year. In general, consumption enjoyed prominent growth. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Sulphuric Acid Production in Central Asia

In value terms, sulphuric acid production shrank slightly to $X in 2022 estimated in export price. In general, production enjoyed strong growth. The growth pace was the most rapid in 2017 when the production volume increased by 107% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Sulphuric Acid Exports

Exports in Central Asia

In 2022, shipments abroad of sulphuric acid and oleum decreased by -78.5% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 315% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, sulphuric acid exports contracted significantly to $X in 2022. Over the period under review, exports, however, showed a mild increase. The growth pace was the most rapid in 2016 when exports increased by 200% against the previous year. The level of export peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

In 2022, Kazakhstan (X tons) represented the key exporter of sulphuric acid and oleum, constituting 75% of total exports. It was distantly followed by Uzbekistan (X tons), making up a 25% share of total exports.

Kazakhstan was also the fastest-growing in terms of the sulphuric acid and oleum exports, with a CAGR of +5.5% from 2012 to 2022. Uzbekistan (-32.1%) illustrated a downward trend over the same period. Uzbekistan (+25 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -25% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) emerged as the largest sulphuric acid supplier in Central Asia, comprising 79% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan was relatively modest.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, growing by 21% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2015 when the export price increased by 140%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.5%).

Sulphuric Acid Imports

Imports in Central Asia

In 2022, after three years of growth, there was significant decline in supplies from abroad of sulphuric acid and oleum, when their volume decreased by -11.2% to X tons. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 70%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, sulphuric acid imports surged to $X in 2022. In general, imports saw a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 190% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mongolia (X tons) represented the key importer of sulphuric acid and oleum, achieving 70% of total imports. It was distantly followed by Kazakhstan (X tons), generating a 27% share of total imports.

Mongolia was also the fastest-growing in terms of the sulphuric acid and oleum imports, with a CAGR of +16.2% from 2012 to 2022. Kazakhstan (-6.7%) illustrated a downward trend over the same period. While the share of Mongolia (+56 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kazakhstan (-23.3 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported sulphuric acid and oleum in Central Asia, comprising 90% of total imports. The second position in the ranking was taken by Mongolia ($X), with a 9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan totaled -1.4%.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, jumping by 112% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 122% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, 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 Kazakhstan ($X per ton), while Mongolia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+5.8%).

Source: IndexBox Platform

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