Southern Asia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Southern Asia

The South Asian nitric and sulphonitric acids market soared to $X in 2021, increasing by 24% against the previous year. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Nitric Acid And Sulphonitric Acids in Southern Asia

In value terms, nitric and sulphonitric acids production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Southern Asia

In 2021, the amount of nitric acid and sulphonitric acids exported in Southern Asia reduced to X tons, waning by -5.1% on 2020 figures. Total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +5.9% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of 52% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, nitric and sulphonitric acids exports soared to $X in 2021. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

India dominates exports structure, reaching X tons, which was approx. 96% of total exports in 2021. Pakistan (X tons) followed a long way behind the leaders.

Exports from India increased at an average annual rate of +1.2% from 2012 to 2021. At the same time, Pakistan (+21.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +21.3% from 2012-2021. While the share of Pakistan (+3.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-3.5 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest nitric and sulphonitric acids supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 4.5% share of total exports.

In India, nitric and sulphonitric acids exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, picking up by 33% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+1.5%).

Imports of Nitric Acid And Sulphonitric Acids

Imports in Southern Asia

Nitric and sulphonitric acids imports soared to X tons in 2021, increasing by 164% on the previous year. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. In general, imports continue to indicate a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) was the major importer of nitric acid and sulphonitric acids, comprising 69% of total imports. Pakistan (X tons) took the second position in the ranking, followed by Sri Lanka (X tons) and Bangladesh (X tons). All these countries together took near 27% share of total imports. The following importers - Nepal (X tons) and Afghanistan (X tons) - each amounted to a 3.5% share of total imports.

India was also the fastest-growing in terms of the nitric acid and sulphonitric acids imports, with a CAGR of +56.8% from 2012 to 2021. At the same time, Afghanistan (+32.9%), Bangladesh (+6.8%), Sri Lanka (+6.5%) and Nepal (+5.4%) displayed positive paces of growth. By contrast, Pakistan (-1.1%) illustrated a downward trend over the same period. While the share of India (+64 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nepal (-3 p.p.), Bangladesh (-8.3 p.p.), Sri Lanka (-13.1 p.p.) and Pakistan (-40.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported nitric acid and sulphonitric acids in Southern Asia, comprising 71% of total imports. The second position in the ranking was held by Sri Lanka ($X), with an 11% share of total imports. It was followed by Pakistan, with an 11% share.

In India, nitric and sulphonitric acids imports increased at an average annual rate of +53.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sri Lanka (+9.2% per year) and Pakistan (-0.3% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, surging by 19% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached 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 2021, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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