Eastern Asia: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Eastern Asia

The East Asian nitric and sulphonitric acids market fell modestly to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Production of Nitric Acid And Sulphonitric Acids in Eastern Asia

In value terms, nitric and sulphonitric acids production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports in Eastern Asia

In 2022, overseas shipments of nitric acid and sulphonitric acids were finally on the rise to reach X tons after two years of decline. Over the period under review, exports enjoyed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitric and sulphonitric acids exports soared to $X in 2022. Overall, exports enjoyed a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea prevails in exports structure, resulting at X tons, which was near X% of total exports in 2022. China (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

South Korea was also the fastest-growing in terms of the nitric acid and sulphonitric acids exports, with a CAGR of X% from 2012 to 2022. At the same time, China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest nitric and sulphonitric acids supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Korea amounted to X%. In the other countries, the average annual rates were as follows: China (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Imports of Nitric Acid And Sulphonitric Acids

Imports in Eastern Asia

In 2022, the amount of nitric acid and sulphonitric acids imported in Eastern Asia rose modestly to X tons, picking up by X% against 2021. Over the period under review, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, nitric and sulphonitric acids imports skyrocketed to $X in 2022. Overall, imports posted a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons) and Japan (X tons) prevails in imports structure, together constituting X% of total imports. It was distantly followed by Taiwan (Chinese) (X tons), mixing up a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X) constitutes the largest market for imported nitric acid and sulphonitric acids in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

In Japan, nitric and sulphonitric acids imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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