ECOWAS: Market for Ammonia In Aqueous Solution 2024

Market Size for Ammonia In Aqueous Solution in ECOWAS

The ECOWAS ammonia in aqueous solution market stood at $X in 2022, increasing by X% against the previous year. Over the period under review, consumption posted a strong increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Ammonia In Aqueous Solution in ECOWAS

In value terms, ammonia in aqueous solution production rose notably to $X in 2022 estimated in export price. Overall, production enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Ammonia In Aqueous Solution

Exports in ECOWAS

In 2022, the amount of ammonia in aqueous solution exported in ECOWAS declined to X tons, reducing by X% on 2021. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ammonia in aqueous solution exports amounted to $X in 2022. Overall, exports faced a deep downturn. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) and Ghana (X tons) were the largest exporters of ammonia in aqueous solution in 2022, amounting to near X% and X% of total exports, respectively. It was distantly followed by Benin (X kg), achieving an X% share of total exports. Senegal (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

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

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Imports of Ammonia In Aqueous Solution

Imports in ECOWAS

In 2022, supplies from abroad of ammonia in aqueous solution decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ammonia in aqueous solution imports dropped sharply to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the key importer of ammonia in aqueous solution in ECOWAS, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%). Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ammonia in aqueous solution imports into Nigeria stood at X%. At the same time, Ghana (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported ammonia in aqueous solution in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Nigeria, ammonia in aqueous solution imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform