Europe: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Europe

In 2021, the Europe nitric and sulphonitric acids market increased by 18% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Europe

In value terms, nitric and sulphonitric acids production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Europe

Nitric and sulphonitric acids exports skyrocketed to X tons in 2021, jumping by 33% compared with 2020. The total export volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed 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 skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium was the major exporter of nitric acid and sulphonitric acids in Europe, with the volume of exports amounting to X tons, which was approx. 43% of total exports in 2021. Germany (X tons) took 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 took near 41% share of total exports. France (X tons) and Norway (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Belgium (with a CAGR of +5.7%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of exports in 2021, together accounting for 70% of total exports.

The Netherlands, with a CAGR of +7.0%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, picking up by 17% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Norway ($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 Europe

In 2021, the amount of nitric acid and sulphonitric acids imported in Europe soared to X tons, growing by 29% on 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 relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. Total imports indicated moderate 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 65% of total imports in 2021. The Netherlands (X tons) took a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by Denmark (5.9%) and Spain (5.7%). The following importers - Sweden (X tons) and Switzerland (X tons) - each resulted at a 3.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) constituted the countries with the highest levels of imports in 2021, with a combined 57% share of total imports. Spain, the Netherlands, Denmark, Switzerland and Sweden lagged somewhat behind, together accounting for a further 23%.

Switzerland, with a CAGR of +17.1%, 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

The import price in Europe stood at $X per ton in 2021, rising by 23% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat 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 Switzerland ($X per ton), while Denmark ($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