CIS: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in CIS

The CIS nitric and sulphonitric acids market stood at $X in 2021, approximately mirroring the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in CIS

In value terms, nitric and sulphonitric acids production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in CIS

In 2021, exports of nitric acid and sulphonitric acids in the CIS expanded notably to X tons, increasing by 9.9% on the year before. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by 16%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2013 with an increase of 21% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Russia (X tons) represented the key exporter of nitric acid and sulphonitric acids, achieving 66% of total exports. Belarus (X tons) ranks second in terms of the total exports with a 21% share, followed by Uzbekistan (12%).

From 2012 to 2021, average annual rates of growth with regard to nitric and sulphonitric acids exports from Russia stood at -5.8%. At the same time, Belarus (+143.9%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +143.9% from 2012-2021. By contrast, Uzbekistan (-18.1%) illustrated a downward trend over the same period. While the share of Belarus (+21 p.p.) and Russia (+6.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Uzbekistan (-27 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest nitric and sulphonitric acids supplier in the CIS, comprising 67% of total exports. The second position in the ranking was taken by Belarus ($X), with a 17% share of total exports.

In Russia, nitric and sulphonitric acids exports shrank by an average annual rate of -5.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belarus (+98.4% per year) and Uzbekistan (-9.2% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, rising by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2014 when the export price increased by 18%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+10.9%), while the other leaders experienced a decline in the export price figures.

Imports of Nitric Acid And Sulphonitric Acids

Imports in CIS

In 2021, the amount of nitric acid and sulphonitric acids imported in the CIS skyrocketed to X tons, rising by 20% compared with 2020. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 81% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.6% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 85%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan (X tons), Kyrgyzstan (X tons) and Azerbaijan (X tons) represented roughly 68% of total imports in 2021. Armenia (X tons) took the next position in the ranking, followed by Tajikistan (X tons), Russia (X tons) and Moldova (X tons). All these countries together held approx. 30% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Tajikistan (with a CAGR of +53.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nitric and sulphonitric acids importing markets in the CIS were Russia ($X), Kazakhstan ($X) and Kyrgyzstan ($X), with a combined 63% share of total imports. These countries were followed by Azerbaijan, Armenia, Tajikistan and Moldova, which together accounted for a further 28%.

Tajikistan, with a CAGR of +48.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 the CIS amounted to $X per ton, dropping by -2.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 51%. 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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