Report Update Nov 1, 2024

Sri Lanka - Sodium Nitrate - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in Sri Lanka

For the third consecutive year, the Sri Lankan sodium nitrate market recorded decline in sales value, which decreased by -99.8% to $X in 2022. Overall, consumption continues to indicate a precipitous setback. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Sodium Nitrate Exports

Exports from Sri Lanka

Sodium nitrate exports from Sri Lanka rose markedly to X kg in 2019, surging by 5.3% against the previous year's figure. The total export volume increased at an average annual rate of +5.3% from 2018 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sodium nitrate exports expanded markedly to $X in 2019. The total export value increased at an average annual rate of +8.0% from 2018 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ghana (X kg) was the main destination for sodium nitrate exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2018 to 2019, the average annual rate of growth in terms of volume to Ghana was relatively modest.

In value terms, Ghana ($X) emerged as the key foreign market for sodium nitrate exports from Sri Lanka.

From 2018 to 2019, the average annual growth rate of value to Ghana was relatively modest.

Export Prices by Country

The average sodium nitrate export price stood at $X per ton in 2019, with an increase of 2.6% against the previous year. Over the period from 2018 to 2019, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2018 to 2019, the rate of growth in terms of prices for Ghana amounted to 0.0% per year.

Sodium Nitrate Imports

Imports into Sri Lanka

For the third year in a row, Sri Lanka recorded decline in supplies from abroad of sodium nitrate, which decreased by -99.9% to X kg in 2022. Over the period under review, imports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 14,711%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sodium nitrate imports declined markedly to $X in 2022. Overall, imports continue to indicate a dramatic setback. The pace of growth was the most pronounced in 2017 with an increase of 9,822%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, India (X kg) was the main supplier of sodium nitrate to Sri Lanka, with a 91% share of total imports. Moreover, sodium nitrate imports from India exceeded the figures recorded by the second-largest supplier, South Korea (X kg), tenfold.

From 2012 to 2022, the average annual growth rate of volume from India totaled -23.3%.

In value terms, the largest sodium nitrate suppliers to Sri Lanka were India ($X) and South Korea ($X).

Among the main suppliers, India, with a CAGR of -25.1%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the average sodium nitrate import price amounted to $X per ton, growing by 266% against the previous year. In general, the import price showed a strong increase. 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 supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+22.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sodium nitrate in the world?

Chile remains the largest sodium nitrate consuming country worldwide, comprising approx. 50% of total volume. Moreover, sodium nitrate consumption in Chile exceeded the figures recorded by the second-largest consumer, Ukraine, ninefold. Russia ranked third in terms of total consumption with a 3.9% share.

What are the largest producers of sodium nitrate in the world?

Chile constituted the country with the largest volume of sodium nitrate production, accounting for 56% of total volume. Moreover, sodium nitrate production in Chile exceeded the figures recorded by the second-largest producer, China, sixfold. Germany ranked third in terms of total production with a 7.1% share.

What are the leading suppliers of sodium nitrate to Sri Lanka?

In value terms, China constituted the largest supplier of sodium nitrate to Sri Lanka, comprising 87% of total imports. The second position in the ranking was occupied by India, with a 13% share of total imports.

What is the average export price for sodium nitrate in Sri Lanka?

The average sodium nitrate export price stood at $2,700 per ton in 2019, dropping by -5.3% against the previous year.

What is the average import price for sodium nitrate in Sri Lanka?

The average sodium nitrate import price stood at $395 per ton in 2021, reducing by -11.5% against the previous year.

This report provides an in-depth analysis of the sodium nitrate market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4005 -

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023