ECOWAS: Market for Fluorine, Chlorine, Bromine and Iodine 2024

Market Size for Fluorine, Chlorine, Bromine and Iodine in ECOWAS

The ECOWAS market for fluorine, chlorine, bromine and iodines totaled $X in 2021, increasing by 2.9% against the previous year. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% 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 -3.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Fluorine, Chlorine, Bromine and Iodine in ECOWAS

In value terms, fluorine, chlorine, bromine and iodine production rose to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 26%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Fluorine, Chlorine, Bromine and Iodine

Exports in ECOWAS

In 2021, shipments abroad of fluorine, chlorine, bromine and iodines increased by 55% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 809% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, fluorine, chlorine, bromine and iodine exports fell remarkably to $X in 2021. In general, exports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of 349%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, resulting at X tons, which was approx. 91% of total exports in 2021. The following exporters - Ghana (X tons) and Nigeria (X tons) - each finished at an 8.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fluorine, chlorine, bromine and iodine exports from Cote d'Ivoire stood at +8.4%. At the same time, Ghana (+14.1%) and Nigeria (+11.1%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +14.1% from 2012-2021. Ghana (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -2.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fluorine, chlorine, bromine and iodine supplying countries in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), with a combined 48% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +10.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with a decrease of -55.4% against the previous year. Overall, the export price continues to indicate a dramatic setback. The pace of growth appeared the most rapid in 2018 when the export price increased by 204%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Cote d'Ivoire ($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 (-0.6%), while the other leaders experienced a decline in the export price figures.

Imports of Fluorine, Chlorine, Bromine and Iodine

Imports in ECOWAS

In 2021, overseas purchases of fluorine, chlorine, bromine and iodines decreased by -1.7% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 29% against the previous year. The volume of import peaked at X tons in 2020, and then contracted in the following year.

In value terms, fluorine, chlorine, bromine and iodine imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 47% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Senegal (X tons) and Nigeria (X tons) represented roughly 62% of total imports in 2021. Ghana (X tons) ranks next in terms of the total imports with a 12% share, followed by Cote d'Ivoire (11%) and Liberia (6.8%). Togo (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Liberia (with a CAGR of +98.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2021, with a combined 74% share of total imports. These countries were followed by Cote d'Ivoire, Togo, Liberia and Sierra Leone, which together accounted for a further 14%.

Among the main importing countries, Liberia, with a CAGR of +47.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, rising by 7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2013 when the import price increased by 25%. The level of import peaked at $X per ton in 2014; however, from 2015 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 Nigeria ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform