During 2023, South Korea held the lead in the global export market of nitric and sulphonitric acids, with a minor but steady increase of approximately 2.16% from the previous year. Notably, Chile showed the most significant growth in exports, increasing by 23.51%. In contrast, countries like Egypt and Denmark experienced substantial declines of 18.7% and 18.95% respectively. Lithuania and Bulgaria also showed notable increases among smaller exporters, with Lithuania growing by 4.47% and Bulgaria by 4.65% year-on-year. Overall, the market demonstrated variable growth patterns across different regions.
Future trends to watch include the potential for increased export activities from emerging economies, as seen by growth in Brazil and India. Meanwhile, geopolitical factors, environmental regulations, and technological advancements likely will influence the industry's landscape, with significant attention expected on sustainable production and innovative applications of nitric acid. This could lead to shifts in market shares, especially in regions focusing on greener technologies and production efficiency.
Top countries in Export of Nitric Acid, Sulphonitric Acids by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 South Korea | 81,616,000 | 2023 | +2.94% | +2.16% | View data |
| 2 | 2 Belgium | 45,387,000 | 2023 | -0.046% | -0.39% | View data |
| 3 | 3 Germany | 26,449,000 | 2023 | -1.71% | -1.86% | View data |
| 4 | 4 United States | 21,774,000 | 2023 | +1.4% | +2.88% | View data |
| 5 | 5 France | 17,710,000 | 2023 | +2.51% | +2.47% | View data |
| 6 | 6 China | 15,740,000 | 2023 | +5% | +3.31% | View data |
| 7 | 7 Norway | 10,851,000 | 2023 | +6.28% | +1.83% | View data |
| 8 | 8 Canada | 8,916,700 | 2023 | +1.37% | +2.99% | View data |
| 9 | 9 Portugal | 8,658,700 | 2023 | +1.67% | +1.92% | View data |
| 10 | 10 Netherlands | 7,830,600 | 2023 | -0.75% | +0.03% | View data |
