Northern America: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Northern America

In 2021, the North American nitric and sulphonitric acids market was finally on the rise to reach $X after three years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in Northern America

In value terms, nitric and sulphonitric acids production totaled $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 44%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Northern America

After four years of decline, overseas shipments of nitric acid and sulphonitric acids increased by 25% to X tons in 2021. Overall, exports, however, showed a perceptible downturn. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports soared to $X in 2021. In general, exports, however, showed a noticeable decline. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the United States (X tons) was the main exporter of nitric acid and sulphonitric acids, mixing up 79% of total exports. It was distantly followed by Canada (X tons), constituting a 21% share of total exports.

The United States was also the fastest-growing in terms of the nitric acid and sulphonitric acids exports, with a CAGR of -1.6% from 2012 to 2021. Canada (-6.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +9 percentage points.

In value terms, the largest nitric and sulphonitric acids supplying countries in Northern America were the United States ($X) and Canada ($X).

Canada, with a CAGR of +6.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the export price, however, continues to indicate mild growth. The pace of growth was the most pronounced in 2017 an increase of 30% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a 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 Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+13.6%).

Imports of Nitric Acid And Sulphonitric Acids

Imports in Northern America

Nitric and sulphonitric acids imports rose slightly to X tons in 2021, with an increase of 2.1% compared with 2020. Overall, imports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2013 when imports increased by 21% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. Over the period under review, imports, however, showed a perceptible setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Canada (X tons) was the key importer of nitric acid and sulphonitric acids, mixing up 63% of total imports. It was distantly followed by the United States (X tons), mixing up a 36% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Canada (with a CAGR of -5.1%).

In value terms, the largest nitric and sulphonitric acids importing markets in Northern America were the United States ($X) and Canada ($X).

Among the main importing countries, the United States, with a CAGR of +1.1%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, growing by 17% against the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.5% 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 decreased by -0.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the import price increased by 23%. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.9%).

Source: IndexBox Platform

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