ECOWAS: Chlorosulphuric Acid Market 2024

Chlorosulphuric Acid Market Size in ECOWAS

After three years of growth, the ECOWAS chlorosulphuric acid market decreased by -9% to $X in 2022. Over the period under review, consumption, however, saw a resilient expansion. The level of consumption peaked at $X in 2021, and then declined in the following year.

Chlorosulphuric Acid Production in ECOWAS

In value terms, chlorosulphuric acid production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2019 with an increase of 5.1%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chlorosulphuric Acid Exports

Exports in ECOWAS

In 2022, approx. X tons of chlorosulphuric acid were exported in ECOWAS; waning by -2.7% on 2021 figures. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 62% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, chlorosulphuric acid exports shrank to $X in 2022. In general, exports recorded a precipitous decrease. The pace of growth was the most pronounced in 2017 when exports increased by 34% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) and Ghana (X tons) dominates exports structure, together comprising 88% of total exports. It was distantly followed by Nigeria (X kg), mixing up an 8.6% share of total exports. Benin (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 main exporting countries, was attained by Benin (with a CAGR of -13.8%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest chlorosulphuric acid supplying countries in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), together comprising 95% of total exports. These countries were followed by Benin, which accounted for a further 5.3%.

Benin, with a CAGR of -10.3%, recorded 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by -3.4% against the previous year. In general, the export price recorded a noticeable setback. The pace of growth was the most pronounced in 2013 when the export price increased by 27%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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 Benin ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+4.0%), while the other leaders experienced a decline in the export price figures.

Chlorosulphuric Acid Imports

Imports in ECOWAS

In 2022, after three years of growth, there was significant decline in purchases abroad of chlorosulphuric acid, when their volume decreased by -17.1% to X tons. Over the period under review, imports, however, continue to indicate a pronounced increase. The pace of growth appeared the most rapid in 2016 when imports increased by 149% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted significantly in the following year.

In value terms, chlorosulphuric acid imports reduced to $X in 2022. Overall, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 296%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Mali prevails in imports structure, finishing at X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Burkina Faso (X tons) and Senegal (X tons), together committing a 12% share of total imports. Niger (X tons) followed a long way behind the leaders.

Mali was also the fastest-growing in terms of the chlorosulphuric acid imports, with a CAGR of +39.9% from 2012 to 2022. Senegal (-7.0%), Burkina Faso (-11.4%) and Niger (-17.6%) illustrated a downward trend over the same period. Mali (+80 p.p.) significantly strengthened its position in terms of the total imports, while Senegal, Niger and Burkina Faso saw its share reduced by -12.2%, -17.2% and -23.5% from 2012 to 2022, respectively.

In value terms, Mali ($X) constitutes the largest market for imported chlorosulphuric acid in ECOWAS, comprising 61% of total imports. The second position in the ranking was taken by Senegal ($X), with an 8.2% share of total imports. It was followed by Burkina Faso, with a 1.8% share.

In Mali, chlorosulphuric acid imports increased at an average annual rate of +42.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+9.9% per year) and Burkina Faso (-10.5% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, surging by 6.4% against the previous year. Overall, the import price enjoyed a notable expansion. The growth pace was the most rapid in 2017 an increase of 214% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained 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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+18.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform