Kenya: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Kenya

The Kenyan nitric and sulphonitric acids market skyrocketed to $X in 2021, with an increase of 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +25.6% against 2018 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Kenya

In 2021, the amount of nitric acid and sulphonitric acids exported from Kenya soared to X tons, picking up by 61% on the year before. Overall, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons), Uganda (X tons) and Ethiopia (X tons) were the main destinations of nitric and sulphonitric acids exports from Kenya, with a combined 83% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +52.4%), while the other leaders experienced more modest paces of growth.

In value terms, Democratic Republic of the Congo ($X), Ethiopia ($X) and Rwanda ($X) constituted the largest markets for nitric and sulphonitric acids exported from Kenya worldwide, with a combined 65% share of total exports.

Among the main countries of destination, Democratic Republic of the Congo, with a CAGR of +33.7%, saw the highest rates of growth with regard to 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 average nitric and sulphonitric acids export price stood at $X per ton in 2021, declining by -11.5% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 24%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Uganda ($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 Burundi (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Kenya

In 2021, nitric and sulphonitric acids imports into Kenya amounted to X tons, picking up by 7.8% compared with 2020 figures. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -36.0% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 82% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 80%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest nitric and sulphonitric acids supplier to Kenya, with a 80% share of total imports. Moreover, nitric and sulphonitric acids imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), tenfold. The third position in this ranking was held by India (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium stood at +55.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-3.4% per year) and India (-4.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of nitric acid and sulphonitric acids to Kenya, comprising 78% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 7.7% share of total imports. It was followed by India, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium totaled +57.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-2.1% per year) and India (-2.3% per year).

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. 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 origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :