ECOWAS: Ammonium Sulphate Market 2024

Ammonium Sulphate Market Size in ECOWAS

In 2022, after seven years of growth, there was significant decline in the ECOWAS ammonium sulphate market, when its value decreased by -16% to $X. Overall, consumption continues to indicate a tangible expansion. The level of consumption peaked at $X in 2021, and then reduced rapidly in the following year.

Ammonium Sulphate Production in ECOWAS

In value terms, ammonium sulphate production reached $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Ammonium Sulphate Exports

Exports in ECOWAS

In 2022, shipments abroad of ammonium sulphate decreased by -94.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw a drastic downturn. The growth pace was the most rapid in 2020 with an increase of 385%. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank sharply in the following year.

In value terms, ammonium sulphate exports contracted sharply to $X in 2022. In general, exports recorded a abrupt decline. The growth pace was the most rapid in 2020 when exports increased by 404% against the previous year. The level of export peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Mali represented the largest exporter of ammonium sulphate in ECOWAS, with the volume of exports resulting at X tons, which was near 85% of total exports in 2022. It was distantly followed by Togo (X tons), mixing up a 15% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ammonium sulphate exports from Mali stood at -12.4%. At the same time, Togo (+18.0%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +18.0% from 2012-2022. Togo (+14 p.p.) and Mali (+12 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) remains the largest ammonium sulphate supplier in ECOWAS, comprising 86% of total exports. The second position in the ranking was held by Togo ($X), with a 14% share of total exports.

In Mali, ammonium sulphate exports contracted by an average annual rate of -16.8% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, falling by -19.7% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 an increase of 17% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mali ($X per ton), while Togo totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-2.1%).

Ammonium Sulphate Imports

Imports in ECOWAS

In 2022, overseas purchases of ammonium sulphate decreased by -18.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw tangible growth. The pace of growth appeared the most rapid in 2021 when imports increased by 59%. As a result, imports reached the peak of X tons, and then dropped markedly in the following year.

In value terms, ammonium sulphate imports dropped remarkably to $X in 2022. In general, imports, however, continue to indicate noticeable growth. The growth pace was the most rapid in 2021 when imports increased by 88%. As a result, imports attained the peak of $X, and then fell dramatically in the following year.

Imports by Country

Nigeria (X tons), Mali (X tons) and Ghana (X tons) represented roughly 89% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), constituting a 7.2% share of total imports. Togo (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nigeria (with a CAGR of +20.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ammonium sulphate importing markets in ECOWAS were Nigeria ($X), Mali ($X) and Ghana ($X), with a combined 90% share of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of +19.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, which is down by -6% against the previous year. Over the period under review, the import price saw a noticeable downturn. The most prominent rate of growth was recorded in 2021 an increase of 18%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Nigeria ($X per ton), while Ghana ($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 (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform