ECOWAS: Oxides And Hydroxides Market 2025

Oxides And Hydroxides Market Size in ECOWAS

The ECOWAS oxides and hydroxides market rose remarkably to $X in 2021, increasing by 8.2% against the previous year. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.7% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Oxides And Hydroxides Production in ECOWAS

In value terms, oxides and hydroxides production reached $X in 2021 estimated in export price. The total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.0% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 45% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Oxides And Hydroxides Exports

Exports in ECOWAS

Oxides and hydroxides exports skyrocketed to X tons in 2021, picking up by 130% against the previous year's figure. In general, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, oxides and hydroxides exports soared to $X in 2021. Overall, exports, however, recorded a perceptible decline. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Nigeria (X tons) represented the main exporter of chromium, manganese, lead and copper oxides and hydroxides, committing 82% of total exports. It was distantly followed by Cote d'Ivoire (X tons), comprising a 16% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to oxides and hydroxides exports from Nigeria stood at +8.0%. At the same time, Cote d'Ivoire (+10.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +10.9% from 2012-2021. From 2012 to 2021, the share of Nigeria and Cote d'Ivoire increased by +6.9 and +4.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest oxides and hydroxides supplier in ECOWAS, comprising 61% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at -5.0%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by -33.8% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the export price increased by 22%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-2.2%).

Oxides And Hydroxides Imports

Imports in ECOWAS

In 2021, the amount of chromium, manganese, lead and copper oxides and hydroxides imported in ECOWAS surged to X tons, growing by 35% against 2020 figures. Over the period under review, imports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2013 when imports increased by 68% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, oxides and hydroxides imports skyrocketed to $X in 2021. Overall, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, reaching X tons, which was near 67% of total imports in 2021. Ghana (X tons) held a 9.6% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (8.5%) and Senegal (6.6%). Burkina Faso (X tons) and Cote d'Ivoire (X tons) took a minor share of total imports.

Nigeria was also the fastest-growing in terms of the chromium, manganese, lead and copper oxides and hydroxides imports, with a CAGR of +35.9% from 2012 to 2021. At the same time, Burkina Faso (+19.6%), Ghana (+17.7%), Guinea (+13.9%), Senegal (+8.1%) and Cote d'Ivoire (+3.2%) displayed positive paces of growth. From 2012 to 2021, the share of Nigeria increased by +51 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported chromium, manganese, lead and copper oxides and hydroxides in ECOWAS, comprising 60% of total imports. The second position in the ranking was held by Ghana ($X), with a 20% share of total imports. It was followed by Burkina Faso, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria amounted to +36.9%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+13.6% per year) and Burkina Faso (+19.0% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, growing by 1.7% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2016 when the import price increased by 16%. 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, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform