United Arab Emirates: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in the United Arab Emirates

The nitric and sulphonitric acids market in the United Arab Emirates was finally on the rise to reach $X in 2021, after four years of decline. Overall, consumption, however, saw a deep reduction. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in the United Arab Emirates

In value terms, nitric and sulphonitric acids production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep downturn. The pace of growth appeared the most rapid in 2016 when the production volume increased by 36%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from the United Arab Emirates

In 2021, shipments abroad of nitric acid and sulphonitric acids was finally on the rise to reach X tons after seven years of decline. In general, exports, however, continue to indicate a sharp curtailment. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, nitric and sulphonitric acids exports dropped modestly to $X in 2021. Overall, exports, however, showed a significant decrease. The pace of growth was the most pronounced in 2020 with an increase of 2.6%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for nitric and sulphonitric acids exports from the United Arab Emirates, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled +12.2%.

In value terms, Oman ($X) also remains the key foreign market for nitric acid and sulphonitric acids exports from the United Arab Emirates.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman amounted to +14.8%.

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2021, falling by -11.1% against the previous year. Over the period under review, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2020 an increase of 25%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Oman amounted to +2.4% per year.

Imports of Nitric Acid And Sulphonitric Acids

Imports into the United Arab Emirates

Nitric and sulphonitric acids imports into the United Arab Emirates reached X tons in 2021, picking up by 9.3% compared with the year before. The total import volume 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 2018 when imports increased by 30%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, nitric and sulphonitric acids imports expanded significantly to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 46%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest nitric and sulphonitric acids supplier to the United Arab Emirates, accounting for a 83% share of total imports. Moreover, nitric and sulphonitric acids imports from India exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+2.4% per year) and Malaysia (-5.1% per year).

In value terms, India ($X) constituted the largest supplier of nitric acid and sulphonitric acids to the United Arab Emirates, comprising 79% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 6.1% share of total imports. It was followed by South Korea, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+8.6% per year) and South Korea (-1.4% per year).

Import Prices by Country

In 2021, the average nitric and sulphonitric acids import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price showed a mild decline. The pace of growth was the most pronounced in 2018 an increase of 12%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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