Africa: Nitrates Market 2024

Nitrates Market Size in Africa

After five years of growth, the African nitrates market decreased by less than 0.1% to $X in 2021. In general, consumption enjoyed strong growth. The level of consumption peaked at $X in 2020, and then shrank slightly in the following year.

Nitrates Production in Africa

In value terms, nitrates production dropped modestly to $X in 2021 estimated in export price. In general, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 55% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped modestly in the following year.

Nitrates Exports

Exports in Africa

In 2021, overseas shipments of nitrates (excluding those of potassium) decreased by -52.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports showed a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, nitrates exports contracted rapidly to $X in 2021. In general, exports showed a slight slump. The pace of growth was the most pronounced in 2018 with an increase of 67%. The level of export peaked at $X in 2020, and then contracted significantly in the following year.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was approx. 77% of total exports in 2021. It was distantly followed by Egypt (X tons), creating a 9.7% share of total exports. The following exporters - Burkina Faso (X tons), Namibia (X tons), Mali (X tons) and Ghana (X tons) - together made up 9.4% of total exports.

Exports from South Africa decreased at an average annual rate of -9.4% from 2012 to 2021. At the same time, Burkina Faso (+21.7%) and Mali (+1.3%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Africa, with a CAGR of +21.7% from 2012-2021. Egypt experienced a relatively flat trend pattern. By contrast, Namibia (-4.4%) and Ghana (-24.7%) illustrated a downward trend over the same period. While the share of Egypt (+5.5 p.p.) and Burkina Faso (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest nitrates supplier in Africa, comprising 75% of total exports. The second position in the ranking was taken by Namibia ($X), with a 6.9% share of total exports. It was followed by Burkina Faso, with a 6.2% share.

In South Africa, nitrates exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Namibia (+12.8% per year) and Burkina Faso (+37.8% per year).

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, growing by 3.3% against the previous year. Over the period under review, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when the export price increased by 54% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+18.0%), while the other leaders experienced more modest paces of growth.

Nitrates Imports

Imports in Africa

In 2021, supplies from abroad of nitrates (excluding those of potassium) increased by 35% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2015 when imports increased by 79%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, nitrates imports soared to $X in 2021. Overall, imports posted notable growth. The pace of growth appeared the most rapid in 2015 with an increase of 72%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Africa dominates imports structure, reaching X tons, which was approx. 65% of total imports in 2021. Nigeria (X tons) took the second position in the ranking, followed by Morocco (X tons). All these countries together held approx. 16% share of total imports. The following importers - Mali (X tons), Mauritania (X tons) and Kenya (X tons) - together made up 9.7% of total imports.

From 2012 to 2021, average annual rates of growth with regard to nitrates imports into South Africa stood at +21.8%. At the same time, Morocco (+32.9%), Nigeria (+9.0%) and Kenya (+7.8%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in Africa, with a CAGR of +32.9% from 2012-2021. By contrast, Mali (-3.4%) and Mauritania (-11.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa and Morocco increased by +42 and +6.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported nitrates (excluding those of potassium) in Africa, comprising 37% of total imports. The second position in the ranking was taken by Nigeria ($X), with an 11% share of total imports. It was followed by Mali, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in South Africa totaled +9.6%. In the other countries, the average annual rates were as follows: Nigeria (+1.5% per year) and Mali (-3.2% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, waning by -8.6% against the previous year. Overall, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 when the import price increased by 11%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mali ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+4.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :