Report Update Nov 1, 2024

Venezuela - Nitric Acid and Sulphonitric Acids - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Venezuela

In 2021, after three years of decline, there was significant growth in the Venezuelan nitric and sulphonitric acids market, when its value increased by 5.5% to $X. In general, consumption, however, recorded a noticeable slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Venezuela

In value terms, nitric and sulphonitric acids production expanded rapidly to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable reduction. Nitric and sulphonitric acids production peaked 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 Venezuela

In 2021, overseas shipments of nitric acid and sulphonitric acids decreased by -14.1% to X tons for the first time since 2011, thus ending a nine-year rising trend. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, nitric and sulphonitric acids exports contracted to $X in 2021. Over the period under review, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 29%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Colombia (X tons) was the main destination for nitric and sulphonitric acids exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2016 to 2018, the average annual rate of growth in terms of volume to Colombia stood at +18.0%.

In value terms, Colombia ($X) also remains the key foreign market for nitric acid and sulphonitric acids exports from Venezuela.

From 2016 to 2018, the average annual growth rate of value to Colombia totaled +13.4%.

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2018, dropping by -3.9% against the previous year. Overall, the export price recorded a perceptible slump. The pace of growth was the most pronounced in 2017 when the average export price decreased by -0.3%. The export price peaked at $X per ton in 2016; however, from 2017 to 2018, the export prices failed to regain momentum.

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

From 2016 to 2018, the rate of growth in terms of prices for Colombia amounted to -4.1% per year.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Venezuela

In 2021, after four years of growth, there was significant decline in purchases abroad of nitric acid and sulphonitric acids, when their volume decreased by -29.2% to X tons. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 187% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then contracted notably in the following year.

In value terms, nitric and sulphonitric acids imports declined sharply to $X in 2021. Overall, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 192%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Colombia (X tons) was the main nitric and sulphonitric acids supplier to Venezuela, with a 98% share of total imports. It was followed by Germany (X tons), with a 1.7% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Colombia amounted to +32.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.2% per year) and the United States (-21.4% per year).

In value terms, Colombia ($X) constituted the largest supplier of nitric acid and sulphonitric acids to Venezuela, comprising 91% of total imports. The second position in the ranking was held by the United States ($X), with a 5.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Colombia amounted to +40.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.6% per year) and Germany (-9.2% per year).

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the import price, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2015 an increase of 61%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nitric acid and sulphonitric acids in the world?

China constituted the country with the largest volume of nitric and sulphonitric acids consumption, comprising approx. 23% of total volume. Moreover, nitric and sulphonitric acids consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with a 9.5% share.

What are the largest producers of nitric acid and sulphonitric acids in the world?

The country with the largest volume of nitric and sulphonitric acids production was China, comprising approx. 23% of total volume. Moreover, nitric and sulphonitric acids production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by the United States, with a 9.7% share.

What are the leading suppliers of nitric acid and sulphonitric acids to Venezuela?

In value terms, Colombia constituted the largest supplier of nitric and sulphonitric acids to Venezuela.

What are the leading importers of nitric acid and sulphonitric acids from Venezuela?

In value terms, Colombia remains the key foreign market for nitric and sulphonitric acids exports from Venezuela.

What is the average export price for nitric acid and sulphonitric acids in Venezuela?

In 2021, the average nitric and sulphonitric acids export price amounted to $130 per ton, growing by 3.4% against the previous year.

What is the average import price for nitric acid and sulphonitric acids in Venezuela?

The average nitric and sulphonitric acids import price stood at $464 per ton in 2021, remaining constant against the previous year.

This report provides an in-depth analysis of the market for nitric and sulphonitric acids in Venezuela. 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:

Prodcom 20151050 - Nitric acid, sulphonitric acids

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
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
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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