EU: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in the EU

After seven years of decline, the EU nitric and sulphonitric acids market increased by 24% to $X in 2021. Overall, consumption, however, showed a noticeable downturn. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Nitric Acid And Sulphonitric Acids in the EU

In value terms, nitric and sulphonitric acids production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable reduction. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in the EU

Nitric and sulphonitric acids exports skyrocketed to X tons in 2021, growing by 34% on the year before. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids exports soared to $X in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Belgium (X tons) represented the key exporter of nitric acid and sulphonitric acids, achieving 45% of total exports. Germany (X tons) held the second position in the ranking, distantly followed by the Netherlands (X tons), the Czech Republic (X tons) and Portugal (X tons). All these countries together held near 43% share of total exports. France (X tons) and Austria (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +5.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 75% of total exports.

Among the main exporting countries, the Netherlands, with a CAGR of +7.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, increasing by 17% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 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 France ($X per ton), while Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports in the EU

Nitric and sulphonitric acids imports soared to X tons in 2021, jumping by 30% against the year before. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids imports soared to $X in 2021. Total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Belgium (X tons) and France (X tons) represented roughly 68% of total imports in 2021. It was distantly followed by the Netherlands (X tons), Denmark (X tons) and Spain (X tons), together achieving a 20% share of total imports. Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Germany (with a CAGR of +10.3%), 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 European Union were Germany ($X), Belgium ($X) and France ($X), together comprising 62% of total imports.

Among the main importing countries, Germany, with a CAGR of +9.5%, recorded the highest growth rate of 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 the European Union stood at $X per ton in 2021, with an increase of 26% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :