South-Eastern Asia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in South-Eastern Asia

In 2021, the Southeast Asian nitric and sulphonitric acids market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Nitric Acid And Sulphonitric Acids in South-Eastern Asia

In value terms, nitric and sulphonitric acids production surged to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt decline. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports in South-Eastern Asia

In 2021, shipments abroad of nitric acid and sulphonitric acids decreased by -15.9% to X tons, falling for the second consecutive year after two years of growth. Total exports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.8% 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 -30.5% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 39% against the previous year. 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 amounted to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 -10.7% against 2019 indices. The growth pace was the most rapid in 2015 when exports increased by 86%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia represented the main exporter of nitric acid and sulphonitric acids in South-Eastern Asia, with the volume of exports accounting for X tons, which was near 59% of total exports in 2021. Thailand (X tons) held the second position in the ranking, distantly followed by Singapore (X tons). All these countries together took near 40% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +13.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and Singapore ($X) were the countries with the highest levels of exports in 2021, together comprising 100% of total exports.

Singapore, with a CAGR of +12.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 36% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the export price increased by 55% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+9.4%), while the other leaders experienced a decline in the export price figures.

Imports of Nitric Acid And Sulphonitric Acids

Imports in South-Eastern Asia

In 2021, the amount of nitric acid and sulphonitric acids imported in South-Eastern Asia soared to X tons, picking up by 24% compared with the year before. In general, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 28%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, nitric and sulphonitric acids imports soared to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons) represented the major importer of nitric acid and sulphonitric acids, comprising 50% of total imports. Thailand (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons) and Indonesia (X tons). All these countries together held near 45% share of total imports. Singapore (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +16.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constitutes the largest market for imported nitric acid and sulphonitric acids in South-Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total imports. It was followed by Indonesia, with a 14% share.

In Malaysia, nitric and sulphonitric acids imports expanded at an average annual rate of +10.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+2.7% per year) and Indonesia (+8.8% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the import price, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2019 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :