Switzerland: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Switzerland

The Swiss nitric and sulphonitric acids market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Nitric Acid And Sulphonitric Acids in Switzerland

In value terms, nitric and sulphonitric acids production expanded notably to $X in 2021 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +14.0% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 44%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Switzerland

For the ninth consecutive year, Switzerland recorded decline in overseas shipments of nitric acid and sulphonitric acids, which decreased by -8.1% to X tons in 2021. In general, exports showed a sharp shrinkage. The smallest decline of -1.5% was in 2015. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, nitric and sulphonitric acids exports dropped to $X in 2021. Over the period under review, exports showed a sharp descent. The pace of growth appeared the most rapid in 2019 when exports increased by 15%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for nitric and sulphonitric acids exports from Switzerland, with a 44% share of total exports. Moreover, nitric and sulphonitric acids exports to Slovakia exceeded the volume sent to the second major destination, China (X tons), more than tenfold. Germany (X kg) ranked third in terms of total exports with a 0.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovakia totaled +144.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.5% per year) and Germany (-49.6% per year).

In value terms, Slovakia ($X) remains the key foreign market for nitric acid and sulphonitric acids exports from Switzerland, comprising 48% of total exports. The second position in the ranking was held by Germany ($X), with a 20% share of total exports. It was followed by Hungary, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovakia amounted to +59.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-24.0% per year) and Hungary (-31.0% per year).

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2021, declining by -5.2% against the previous year. Over the period under review, the export price, however, recorded significant growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 191% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Slovakia ($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 Romania (+331.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Switzerland

For the seventh year in a row, Switzerland recorded growth in supplies from abroad of nitric acid and sulphonitric acids, which increased by 8.3% to X tons in 2021. Overall, imports showed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 91%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, nitric and sulphonitric acids imports soared to $X in 2021. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 86%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of nitric and sulphonitric acids to Switzerland, with a 71% share of total imports. Moreover, nitric and sulphonitric acids imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), sevenfold. The third position in this ranking was held by Belgium (X tons), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+15.6% per year) and Belgium (+60.0% per year).

In value terms, Germany ($X) constituted the largest supplier of nitric acid and sulphonitric acids to Switzerland, comprising 63% of total imports. The second position in the ranking was taken by Belgium ($X), with a 13% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+55.2% per year) and Italy (+14.1% per year).

Import Prices by Country

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, surging by 32% against the previous year. In general, the import price, however, showed a pronounced contraction. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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