Eastern Europe: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Eastern Europe

In 2021, the East European nitric and sulphonitric acids market increased by 1.1% to $X, rising for the second consecutive year after three years of decline. In general, consumption showed a relatively flat trend pattern. The level of 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 Eastern Europe

In value terms, nitric and sulphonitric acids production stood at $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Eastern Europe

Nitric and sulphonitric acids exports fell to X tons in 2021, which is down by -3% on 2020 figures. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 16%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2021. Overall, exports showed a slight decline. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The Czech Republic was the main exporting country with an export of around X tons, which accounted for 49% of total exports. It was distantly followed by Slovakia (X tons), Russia (X tons), Lithuania (X tons) and Hungary (X tons), together creating a 42% share of total exports. The following exporters - Belarus (X tons) and Bulgaria (X tons) - each reached a 7.8% share of total exports.

Exports from the Czech Republic increased at an average annual rate of +4.1% from 2012 to 2021. At the same time, Belarus (+143.9%), Bulgaria (+13.4%) and Lithuania (+6.9%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +143.9% from 2012-2021. By contrast, Slovakia (-2.7%), Hungary (-4.3%) and Russia (-5.8%) illustrated a downward trend over the same period. While the share of the Czech Republic (+18 p.p.), Lithuania (+4.8 p.p.), Belarus (+4 p.p.) and Bulgaria (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hungary (-2.1 p.p.), Slovakia (-2.5 p.p.) and Russia (-7.1 p.p.) displayed negative dynamics.

In value terms, the Czech Republic ($X) remains the largest nitric and sulphonitric acids supplier in Eastern Europe, comprising 42% of total exports. The second position in the ranking was held by Russia ($X), with a 16% share of total exports. It was followed by Slovakia, with a 15% share.

In the Czech Republic, nitric and sulphonitric acids exports expanded at an average annual rate of +4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (-5.9% per year) and Slovakia (-5.1% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, surging by 21% against the previous year. In general, the export price, however, saw a slight decrease. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Russia ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+2.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Nitric Acid And Sulphonitric Acids

Imports in Eastern Europe

In 2021, nitric and sulphonitric acids imports in Eastern Europe contracted dramatically to X tons, shrinking by -15.6% compared with the previous year's figure. In general, imports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 20% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, nitric and sulphonitric acids imports expanded modestly to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Poland (X tons), Hungary (X tons), Ukraine (X tons) and the Czech Republic (X tons) represented roughly 82% of total imports in 2021. Estonia (X tons) held a 5.6% share (based on physical terms) of total imports, which put it in second place, followed by Romania (5%). Slovakia (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +3.6%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Hungary ($X), Poland ($X) and Ukraine ($X) were the countries with the highest levels of imports in 2021, together accounting for 60% of total imports.

In terms of the main importing countries, Poland, with a CAGR of +7.3%, recorded the highest rates of growth with regard to 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

The import price in Eastern Europe stood at $X per ton in 2021, with an increase of 21% against the previous year. Import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitric and sulphonitric acids import price increased by +20.0% against 2018 indices. The growth pace was the most rapid in 2018 when the import price increased by 22% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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