Slovenia: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in Slovenia

In 2022, the Slovene sodium nitrate market increased by 17% to $X, rising for the second year in a row after four years of decline. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Sodium Nitrate Exports

Exports from Slovenia

In 2022, approx. X tons of sodium nitrate were exported from Slovenia; declining by -18.7% against the year before. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 8,402%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, sodium nitrate exports rose notably to $X in 2022. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 7,876%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X tons) was the main destination for sodium nitrate exports from Slovenia, with a 62% share of total exports. Moreover, sodium nitrate exports to Austria exceeded the volume sent to the second major destination, Italy (X tons), fourfold. South Korea (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria stood at +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+222.8% per year) and South Korea (+144.9% per year).

In value terms, Austria ($X) emerged as the key foreign market for sodium nitrate exports from Slovenia, comprising 57% of total exports. The second position in the ranking was held by Italy ($X), with a 19% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Austria amounted to +33.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+238.2% per year) and South Korea (+171.0% per year).

Export Prices by Country

In 2022, the average sodium nitrate export price amounted to $X per ton, surging by 36% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium nitrate export price increased by +80.2% against 2018 indices. The growth pace was the most rapid in 2016 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to North Macedonia ($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 Croatia (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Nitrate Imports

Imports into Slovenia

Sodium nitrate imports into Slovenia fell sharply to X tons in 2022, reducing by -17.7% against 2021. Over the period under review, imports, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2014 with an increase of 145%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sodium nitrate imports surged to $X in 2022. Overall, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by 86% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), Chile (X tons) and Poland (X tons) were the main suppliers of sodium nitrate imports to Slovenia, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +20.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sodium nitrate suppliers to Slovenia were Germany ($X), Chile ($X) and Poland ($X), together accounting for 90% of total imports.

Germany, with a CAGR of +21.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sodium nitrate import price stood at $X per ton in 2022, surging by 64% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and the Czech Republic ($X per ton), while the price for Poland ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform