South-Eastern Asia: Sodium Nitrate Market 2024

Sodium Nitrate Exports

Exports in South-Eastern Asia

In 2022, after two years of decline, there was significant growth in shipments abroad of sodium nitrate, when their volume increased by 78% to X tons. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 307%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, sodium nitrate exports surged to $X in 2022. Overall, exports recorded temperate growth. The pace of growth appeared the most rapid in 2019 with an increase of 221%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore was the largest exporting country with an export of around X tons, which recorded 62% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 25% share, followed by Malaysia (12%).

Singapore was also the fastest-growing in terms of the sodium nitrate exports, with a CAGR of +35.7% from 2012 to 2022. Malaysia experienced a relatively flat trend pattern. Vietnam (-9.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore increased by +59 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest sodium nitrate supplier in South-Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +25.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-12.0% per year) and Malaysia (-3.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, falling by -24.3% against the previous year. Over the period under review, the export price, however, showed a measured expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by 51% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-2.8%), while the other leaders experienced a decline in the export price figures.

Sodium Nitrate Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of sodium nitrate decreased by -3.4% to X tons, falling for the fourth year in a row after three years of growth. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, sodium nitrate imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 36%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) was the largest importer of sodium nitrate, mixing up 51% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 19% share, followed by Thailand (15%) and Indonesia (10%). Lao People's Democratic Republic (X tons) held a little share of total imports.

Malaysia was also the fastest-growing in terms of the sodium nitrate imports, with a CAGR of +26.1% from 2012 to 2022. At the same time, Lao People's Democratic Republic (+3.7%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. By contrast, Vietnam (-3.9%) and Indonesia (-12.7%) illustrated a downward trend over the same period. Malaysia (+46 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Indonesia saw its share reduced by -12.2% and -32.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sodium nitrate importing markets in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Vietnam ($X), with a combined 83% share of total imports.

Malaysia, with a CAGR of +19.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, picking up by 14% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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