Chile: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Chile

In 2021, the Chilean nitric and sulphonitric acids market decreased by -18.3% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption continues to indicate a abrupt decrease. Nitric and sulphonitric acids consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Chile

In value terms, nitric and sulphonitric acids production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 with an increase of 15% against the previous year. Nitric and sulphonitric acids production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Chile

In 2021, the amount of nitric acid and sulphonitric acids exported from Chile surged to X tons, jumping by 78% on the previous year's figure. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 141% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2021. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 163%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Brazil (X tons) was the main destination for nitric and sulphonitric acids exports from Chile, with a 94% share of total exports. Moreover, nitric and sulphonitric acids exports to Brazil exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil stood at +175.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+20.4% per year) and Argentina (-33.0% per year).

In value terms, Brazil ($X) remains the key foreign market for nitric acid and sulphonitric acids exports from Chile, comprising 93% of total exports. The second position in the ranking was held by Peru ($X), with a 6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Brazil totaled +159.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+16.2% per year) and Argentina (-36.6% per year).

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, with a decrease of -17.6% against the previous year. Over the period under review, the export price recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2019 an increase of 9.3% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Argentina ($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 Peru (-3.5%), while the prices for the other major destinations experienced a decline.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Chile

Nitric and sulphonitric acids imports into Chile reduced dramatically to X tons in 2021, shrinking by -34.5% compared with the previous year's figure. Overall, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.7% 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 +45.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 122%. As a result, imports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, nitric and sulphonitric acids imports fell to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 73%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest nitric and sulphonitric acids supplier to Chile, with a 75% share of total imports. Moreover, nitric and sulphonitric acids imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.9% per year) and Belgium (-4.4% per year).

In value terms, the Netherlands ($X), Germany ($X) and Belgium ($X) were the largest nitric and sulphonitric acids suppliers to Chile, together comprising 98% of total imports.

The Netherlands, with a CAGR of +3.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, rising by 35% against the previous year. In general, the import price, however, recorded a pronounced contraction. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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