SADC: Sodium Nitrate Market 2024

Sodium Nitrate Market Size in SADC

After two years of decline, the SADC sodium nitrate market increased by X% to $X in 2023. In general, consumption posted a noticeable increase. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a somewhat lower figure.

Sodium Nitrate Production in SADC

In value terms, sodium nitrate production surged to $X in 2023 estimated in export price. In general, production, however, posted a moderate expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Sodium Nitrate Exports

Exports in SADC

In 2023, shipments abroad of sodium nitrate decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, sodium nitrate exports declined dramatically to $X in 2023. Over the period under review, exports saw a noticeable downturn. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then reduced markedly in the following year.

Exports by Country

South Africa dominates exports structure, recording X tons, which was near X% of total exports in 2023. It was distantly followed by Mozambique (X tons), achieving a X% share of total exports. Tanzania (X tons) followed a long way behind the leaders.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2023. At the same time, Mozambique (X%) and Tanzania (X%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. While the share of Mozambique (X p.p.) and Tanzania (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Africa (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest sodium nitrate supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports.

In South Africa, sodium nitrate exports decreased by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Tanzania (X% per year) and Mozambique (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, growing by X% against the previous year. Export price indicated a moderate expansion 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, sodium nitrate export price increased by X% against 2021 indices. The growth pace was the most rapid in 2022 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

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

Sodium Nitrate Imports

Imports in SADC

Sodium nitrate imports expanded sharply to X tons in 2023, increasing by X% against the year before. Overall, imports, however, saw a pronounced curtailment. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, sodium nitrate imports stood at $X in 2023. In general, imports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Zimbabwe represented the key importer of sodium nitrate in SADC, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. South Africa (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Zambia (X%). Mozambique (X tons), Botswana (X tons) and Democratic Republic of the Congo (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mozambique (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sodium nitrate importing markets in SADC were Zimbabwe ($X), South Africa ($X) and Zambia ($X), with a combined X% share of total imports. Mozambique, Democratic Republic of the Congo and Botswana lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Mozambique, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, remaining stable against the previous year. Import price indicated a tangible 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, sodium nitrate import price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2023.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in South Africa ($X per ton) and Democratic Republic of the Congo ($X per ton), while Botswana ($X per ton) and Mozambique ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Botswana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform