SADC: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in SADC

The SADC sodium nitrate market surged to $X in 2022, picking up by 35% against the previous year. Overall, consumption, however, continues to indicate a abrupt setback. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Sodium Nitrate Production in SADC

In value terms, sodium nitrate production shrank slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 14% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Sodium Nitrate Exports

Exports in SADC

In 2022, shipments abroad of sodium nitrate increased by 7.8% to X tons, rising for the third year in a row after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 210% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; afterwards, it flattened through to 2022.

In value terms, sodium nitrate exports skyrocketed to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 138% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of sodium nitrate, namely South Africa, represented more than two-thirds of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of sodium nitrate. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest sodium nitrate supplier in SADC.

From 2012 to 2022, the average annual growth rate of value in South Africa was relatively modest.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, rising by 52% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, 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 2022, the rate of growth in terms of prices for South Africa amounted to +0.0% per year.

Sodium Nitrate Imports

Imports in SADC

In 2022, the amount of sodium nitrate imported in SADC skyrocketed to X tons, picking up by 35% compared with the previous year. Overall, imports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2015 with an increase of 348%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, sodium nitrate imports soared to $X in 2022. In general, imports, however, showed a pronounced decrease. The growth pace was the most rapid in 2014 with an increase of 401%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa represented the largest importing country with an import of about X tons, which reached 67% of total imports. Zambia (X tons) took the second position in the ranking, followed by Democratic Republic of the Congo (X tons), Mozambique (X tons) and Zimbabwe (X tons). All these countries together held near 30% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sodium nitrate imports into South Africa stood at -5.3%. At the same time, Mozambique (+132.5%), Democratic Republic of the Congo (+30.0%) and Zimbabwe (+8.4%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +132.5% from 2012-2022. By contrast, Zambia (-9.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Democratic Republic of the Congo, Mozambique and Zimbabwe increased by +8.1, +6.3 and +3.3 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported sodium nitrate in SADC, comprising 66% of total imports. The second position in the ranking was taken by Zambia ($X), with a 10% share of total imports. It was followed by Mozambique, with a 7.3% share.

In South Africa, sodium nitrate imports decreased by an average annual rate of -5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Zambia (-8.4% per year) and Mozambique (+136.7% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, shrinking by -2.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 61% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Mozambique ($X per ton) and Zimbabwe ($X per ton), while Democratic Republic of the Congo ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform