SADC: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in SADC

In 2021, the SADC nitric and sulphonitric acids market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a noticeable reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in SADC

In value terms, nitric and sulphonitric acids production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable contraction. 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 in SADC

In 2021, approx. X tons of nitric acid and sulphonitric acids were exported in SADC; surging by 14% compared with the previous year's figure. Total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.8% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by 45%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, nitric and sulphonitric acids exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 31% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa (X tons) represented roughly 99% of total exports in 2021.

South Africa was also the fastest-growing in terms of the nitric acid and sulphonitric acids exports, with a CAGR of +3.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest nitric and sulphonitric acids supplier in SADC.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa was relatively modest.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, growing by 9.5% against the previous year. Overall, the export price, however, recorded a pronounced curtailment. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to -4.3% per year.

Imports of Nitric Acid And Sulphonitric Acids

Imports in SADC

In 2021, imports of nitric acid and sulphonitric acids in SADC rose significantly to X tons, surging by 5.4% on 2020 figures. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.6% 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 -13.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 49%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, nitric and sulphonitric acids imports rose markedly to $X in 2021. Over the period under review, imports, however, showed a slight slump. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of nitric acid and sulphonitric acids, namely Madagascar, Zimbabwe, Zambia and Botswana, represented more than two-thirds of total import. Namibia (X tons) held the next position in the ranking, followed by Mauritius (X tons). All these countries together took approx. 13% share of total imports. Tanzania (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Madagascar (with a CAGR of +44.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Madagascar ($X), Zimbabwe ($X) and Zambia ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 56% of total imports.

Madagascar, with a CAGR of +25.7%, saw 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

In 2021, the import price in SADC amounted to $X per ton, growing by 1.9% against the previous year. In general, the import price, however, saw a deep slump. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tanzania ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritius (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform