Italy: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Italy

In 2021, the Italian nitric and sulphonitric acids market increased by 23% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in Italy

In value terms, nitric and sulphonitric acids production rose to $X in 2021 estimated in export price. Over the period under review, production saw a deep downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 41%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Italy

In 2021, approx. X tons of nitric acid and sulphonitric acids were exported from Italy; declining by -3.8% compared with 2020 figures. Over the period under review, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 189%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports soared to $X in 2021. Overall, exports, however, posted pronounced growth. The pace of growth appeared the most rapid in 2018 with an increase of 903%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Switzerland (X tons) was the main destination for nitric and sulphonitric acids exports from Italy, with a 63% share of total exports. Moreover, nitric and sulphonitric acids exports to Switzerland exceeded the volume sent to the second major destination, Belgium (X tons), eightfold. The third position in this ranking was held by Germany (X tons), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume to Switzerland amounted to +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+22.5% per year) and Germany (+29.1% per year).

In value terms, Switzerland ($X) remains the key foreign market for nitric acid and sulphonitric acids exports from Italy, comprising 47% of total exports. The second position in the ranking was held by Spain ($X), with an 18% share of total exports. It was followed by Belgium, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Switzerland stood at +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+36.8% per year) and Belgium (+5.1% per year).

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2021, picking up by 62% against the previous year. In general, the export price, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 when the average export price increased by 247%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Germany ($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 Romania (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Italy

In 2021, purchases abroad of nitric acid and sulphonitric acids was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 34% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest nitric and sulphonitric acids supplier to Italy, accounting for a 54% share of total imports. Moreover, nitric and sulphonitric acids imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. France (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.9% per year) and France (-2.8% per year).

In value terms, the largest nitric and sulphonitric acids suppliers to Italy were Germany ($X), Belgium ($X) and France ($X), together comprising 84% of total imports. These countries were followed by Poland and Austria, which together accounted for a further 11%.

In terms of the main suppliers, Poland, with a CAGR of +79.8%, saw 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

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, picking up by 13% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. 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 +61.7% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 30% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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