ECOWAS: Chlorides Market 2024

Chlorides Market Size in ECOWAS

In 2021, the ECOWAS chlorides market decreased by -1.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a perceptible descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Chlorides Production in ECOWAS

In value terms, chlorides production declined to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep contraction. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Chlorides Exports

Exports in ECOWAS

In 2021, approx. X tons of chlorides (excluding ammonium chloride) were exported in ECOWAS; growing by 2% against 2020 figures. In general, exports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2013 when exports increased by 1,325% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, chlorides exports dropped to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 1,973%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the largest exporting country with an export of around X tons, which finished at 39% of total exports. Togo (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (16%), Nigeria (13%) and Ghana (5.4%). Guinea (X tons) and Niger (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +23.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest chlorides supplier in ECOWAS, comprising 53% of total exports. The second position in the ranking was held by Senegal ($X), with a 17% share of total exports. It was followed by Nigeria, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire was relatively modest. In the other countries, the average annual rates were as follows: Senegal (+26.6% per year) and Nigeria (+12.6% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with a decrease of -10.8% against the previous year. Over the period under review, the export price, however, showed slight growth. The pace of growth was the most pronounced in 2020 an increase of 96%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+11.1%), while the other leaders experienced more modest paces of growth.

Chlorides Imports

Imports in ECOWAS

In 2021, approx. X tons of chlorides (excluding ammonium chloride) were imported in ECOWAS; growing by 13% on 2020. Over the period under review, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 60% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, chlorides imports expanded significantly to $X in 2021. Overall, imports, however, saw a slight slump. The most prominent rate of growth was recorded in 2019 when imports increased by 53%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the key importing country with an import of about X tons, which recorded 46% of total imports. It was distantly followed by Ghana (X tons), Senegal (X tons), Cote d'Ivoire (X tons) and Niger (X tons), together comprising a 43% share of total imports. The following importers - Burkina Faso (X tons) and Liberia (X tons) - each resulted at a 7.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to chlorides imports into Nigeria stood at -6.1%. At the same time, Liberia (+19.5%), Burkina Faso (+18.0%), Senegal (+10.5%) and Cote d'Ivoire (+4.2%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +19.5% from 2012-2021. Niger experienced a relatively flat trend pattern. By contrast, Ghana (-7.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Cote d'Ivoire, Burkina Faso, Liberia and Niger increased by +5.6, +4, +3.1, +3 and +1.6 percentage points, respectively.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 78% of total imports.

Cote d'Ivoire, with a CAGR of +21.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, reducing by -4.1% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chlorides import price decreased by -14.2% against 2018 indices. The pace of growth was the most pronounced in 2017 an increase of 25%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Cote d'Ivoire ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+16.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform