ECOWAS: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in ECOWAS

The ECOWAS hydrogen chloride market dropped modestly to $X in 2021, which is down by -4.5% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 increased by +4.3% against 2019 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Hydrogen Chloride Production in ECOWAS

In value terms, hydrogen chloride production reduced slightly to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.0% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by 31%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Hydrogen Chloride Exports

Exports in ECOWAS

In 2021, shipments abroad of hydrogen chloride (hydrochloric acid) increased by 8.3% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 22%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hydrogen chloride exports expanded markedly to $X in 2021. Over the period under review, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Sierra Leone (X tons) and Ghana (X tons) represented the main exporters of hydrogen chloride (hydrochloric acid) in 2021, recording approx. 39% and 36% of total exports, respectively. Cote d'Ivoire (X tons) ranks next in terms of the total exports with an 11% share, followed by Burkina Faso (9%). Togo (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +24.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X) remains the largest hydrogen chloride supplier in ECOWAS, comprising 64% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 14% share of total exports. It was followed by Burkina Faso, with a 10% share.

In Ghana, hydrogen chloride exports expanded at an average annual rate of +18.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-5.4% per year) and Burkina Faso (-13.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 an increase of 63%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Sierra Leone ($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 (-1.9%), while the other leaders experienced a decline in the export price figures.

Hydrogen Chloride Imports

Imports in ECOWAS

In 2021, after two years of growth, there was significant decline in purchases abroad of hydrogen chloride (hydrochloric acid), when their volume decreased by -21.4% to X tons. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 23%. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, hydrogen chloride imports reduced notably to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 30%. As a result, imports attained the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2021, Nigeria (X tons) represented the main importer of hydrogen chloride (hydrochloric acid), committing 39% of total imports. It was distantly followed by Ghana (X tons), Guinea (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Burkina Faso (X tons) and Mali (X tons), together achieving a 55% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +16.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported hydrogen chloride (hydrochloric acid) in ECOWAS, comprising 49% of total imports. The second position in the ranking was held by Ghana ($X), with a 13% share of total imports. It was followed by Burkina Faso, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +5.2%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-4.6% per year) and Burkina Faso (+1.7% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 6.2% against the previous year. Overall, the import price, however, showed a mild decline. The pace of growth appeared the most rapid in 2018 an increase of 14% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 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 Burkina Faso ($X per ton), while Ghana ($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 (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform