Pakistan: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Pakistan

The Pakistani sulphuric acid market expanded modestly to $X in 2022, increasing by 3.2% against the previous year. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Sulphuric Acid Production in Pakistan

In value terms, sulphuric acid production expanded modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 57%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Sulphuric Acid Exports

Exports from Pakistan

After three years of growth, overseas shipments of sulphuric acid and oleum decreased by -24.9% to X tons in 2022. Overall, exports continue to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2013 with an increase of 205% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, sulphuric acid exports contracted sharply to $X in 2022. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 197%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Afghanistan (X tons), Oman (X tons) and Sri Lanka (X tons) were the main destinations of sulphuric acid exports from Pakistan, with a combined 100% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +23.1%), while the other leaders experienced mixed trend patterns.

In value terms, Oman ($X) remains the key foreign market for sulphuric acid and oleum exports from Pakistan, comprising 56% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Oman totaled +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+0.2% per year) and Afghanistan (-19.3% per year).

Export Prices by Country

In 2022, the average sulphuric acid export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 14%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (-7.0%), while the prices for the other major destinations experienced a decline.

Sulphuric Acid Imports

Imports into Pakistan

In 2022, sulphuric acid imports into Pakistan skyrocketed to X tons, increasing by 156% compared with 2021 figures. Overall, imports continue to indicate prominent growth. The growth pace was the most rapid in 2019 with an increase of 295% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sulphuric acid imports soared to $X in 2022. Over the period under review, imports posted a remarkable increase. The pace of growth was the most pronounced in 2019 when imports increased by 584%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Kuwait (X tons) constituted the largest sulphuric acid supplier to Pakistan, with a 85% share of total imports. Moreover, sulphuric acid imports from Kuwait exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. The third position in this ranking was taken by Greece (X tons), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from Kuwait stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+32.8% per year) and Greece (+10.7% per year).

In value terms, Kuwait ($X), Italy ($X) and Japan ($X) constituted the largest sulphuric acid suppliers to Pakistan, with a combined 81% share of total imports.

Among the main suppliers, Japan, with a CAGR of +45.7%, 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 2022, the average sulphuric acid import price amounted to $X per ton, declining by -29.7% against the previous year. Overall, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 73%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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