Southern Asia: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in Southern Asia

The South Asian potassium nitrate market totaled $X in 2023, remaining constant against the previous year. Over the period under review, consumption, however, recorded buoyant growth. The level of consumption peaked in 2023 and is expected to retain growth in the near future.

Potassium Nitrate Production in Southern Asia

In value terms, potassium nitrate production reduced modestly to $X in 2023 estimated in export price. Overall, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Potassium Nitrate Exports

Exports in Southern Asia

In 2023, the amount of potassium nitrates exported in Southern Asia was estimated at X tons, picking up by X% against the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, potassium nitrate exports expanded markedly to $X in 2023. Total exports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the immediate term.

Exports by Country

India (X tons) represented roughly X% of total exports in 2023.

India was also the fastest-growing in terms of the potassium nitrates exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest potassium nitrate supplier in Southern Asia.

In India, potassium nitrate exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, waning by X% against the previous year. Export price indicated a buoyant increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, potassium nitrate export price increased by X% against 2019 indices. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Potassium Nitrate Imports

Imports in Southern Asia

For the fifth consecutive year, Southern Asia recorded growth in overseas purchases of potassium nitrates, which increased by X% to X tons in 2023. Overall, imports enjoyed tangible growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, potassium nitrate imports surged to $X in 2023. Over the period under review, imports recorded noticeable growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2023 and is likely to continue growth in years to come.

Imports by Country

In 2023, India (X tons) was the largest importer of potassium nitrates, making up X% of total imports. Pakistan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (X%) and Bangladesh (X%).

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, India ($X), Pakistan ($X) and Sri Lanka ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2023, the import prices failed to regain momentum.

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

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

Source: IndexBox Platform