South Africa: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in South Africa

After two years of decline, the South African nitric and sulphonitric acids market increased by 5.8% to $X in 2021. Overall, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Nitric Acid And Sulphonitric Acids in South Africa

In value terms, nitric and sulphonitric acids production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable decrease. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from South Africa

In 2021, approx. X tons of nitric acid and sulphonitric acids were exported from South Africa; rising by 14% compared with the year before. Overall, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.9% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 46% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

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 most prominent rate of growth was recorded in 2019 when exports increased by 32% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Botswana (X tons), Madagascar (X tons) and Zimbabwe (X tons) were the main destinations of nitric and sulphonitric acids exports from South Africa, together accounting for 70% of total exports.

From 2012 to 2021, the biggest increases were recorded for Madagascar (with a CAGR of +45.0%), 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 South Africa were Zimbabwe ($X), Madagascar ($X) and Zambia ($X), together accounting for 70% of total exports.

Among the main countries of destination, Madagascar, with a CAGR of +50.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2021, surging by 10% against the previous year. In general, the export price, however, recorded a noticeable shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Botswana ($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 Madagascar (+4.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Nitric Acid And Sulphonitric Acids

Imports into South Africa

After three years of decline, overseas purchases of nitric acid and sulphonitric acids increased by 22% to X tons in 2021. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 151%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. Overall, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 34%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of nitric and sulphonitric acids imports to South Africa, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +73.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and the UK ($X) were the largest nitric and sulphonitric acids suppliers to South Africa, together comprising 83% of total imports.

Among the main suppliers, the UK, with a CAGR of +34.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the import price showed a deep downturn. The growth pace was the most rapid in 2013 an increase of 113% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, 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 the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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