Slovakia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Slovakia

In 2021, the Slovak nitric and sulphonitric acids market was finally on the rise to reach $X after two years of decline. In general, consumption, however, showed a abrupt descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Nitric Acid And Sulphonitric Acids in Slovakia

In value terms, nitric and sulphonitric acids production soared to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2017 when the production volume increased by 398%. Nitric and sulphonitric acids production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Slovakia

After two years of growth, overseas shipments of nitric acid and sulphonitric acids decreased by -35.3% to X tons in 2021. In general, exports saw a noticeable curtailment. The growth pace was the most rapid in 2017 when exports increased by 309%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports dropped to $X in 2021. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 208% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons), Germany (X tons) and Austria (X tons) were the main destinations of nitric and sulphonitric acids exports from Slovakia, together accounting for 80% of total exports. Switzerland, Hungary, Slovenia, Bosnia and Herzegovina, Poland and Romania lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +22.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nitric and sulphonitric acids exported from Slovakia were Austria ($X), the Czech Republic ($X) and Germany ($X), with a combined 76% share of total exports. Switzerland, Hungary, Slovenia, Bosnia and Herzegovina, Poland and Romania lagged somewhat behind, together comprising a further 20%.

Switzerland, with a CAGR of +25.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, with an increase of 48% against the previous year. In general, the export price, however, showed a perceptible curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Poland (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Slovakia

In 2021, the amount of nitric acid and sulphonitric acids imported into Slovakia shrank significantly to X tons, waning by -75% on the previous year's figure. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2014 when imports increased by 475% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, nitric and sulphonitric acids imports dropped dramatically to $X in 2021. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 322%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of nitric and sulphonitric acids imports to Slovakia, together accounting for 94% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +133.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Italy ($X) constituted the largest nitric and sulphonitric acids suppliers to Slovakia, with a combined 97% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +46.4%, recorded 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 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the import price continues to indicate a mild expansion. The pace of growth appeared the most rapid in 2019 an increase of 70% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+15.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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