MENA: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in MENA

In 2023, after three years of growth, there was significant decline in the MENA's sodium nitrate market, when its value decreased by X% to $X. In general, consumption, however, posted prominent growth. The level of consumption peaked at $X in 2022, and then shrank in the following year.

Sodium Nitrate Production in MENA

In value terms, sodium nitrate production soared to $X in 2023 estimated in export price. In general, production enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Sodium Nitrate Exports

Exports in MENA

In 2023, the amount of sodium nitrate exported in MENA was estimated at X tons, picking up by X% compared with the year before. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, sodium nitrate exports declined to $X in 2023. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Iran represented the major exporter of sodium nitrate in MENA, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%).

Iran was also the fastest-growing in terms of the sodium nitrate exports, with a CAGR of X% from 2012 to 2023. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2023, the share of Iran increased by X percentage points.

In value terms, Iran ($X) remains the largest sodium nitrate supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

In Iran, sodium nitrate exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Sodium Nitrate Imports

Imports in MENA

In 2023, overseas purchases of sodium nitrate decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, sodium nitrate imports dropped sharply to $X in 2023. Overall, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank markedly in the following year.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Turkey (X tons), creating a X% share of total imports. Egypt (X tons) held a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the sodium nitrate imports, with a CAGR of X% from 2012 to 2023. At the same time, Egypt (X%) and Turkey (X%) displayed positive paces of growth. The United Arab Emirates (X p.p.) and Egypt (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sodium nitrate in MENA, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform