ECOWAS: Market for Liquid Or Compressed Air And Distilled Or Conductivity Water 2024

Market Size for Liquid Or Compressed Air And Distilled Or Conductivity Water in ECOWAS

The ECOWAS market for liquid or compressed air and distilled or conductivity water expanded markedly to $X in 2021, picking up by 6.3% against the previous year. In general, consumption, however, continues to indicate a slight slump. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Liquid Or Compressed Air And Distilled Or Conductivity Water in ECOWAS

In value terms, liquid air and distilled water production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 25% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Liquid Or Compressed Air And Distilled Or Conductivity Water

Exports in ECOWAS

In 2021, after three years of decline, there was significant growth in shipments abroad of liquid or compressed air and distilled or conductivity water, when their volume increased by 115% to X tons. In general, exports, however, showed a deep contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, liquid air and distilled water exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 90%. Over the period under review, the exports reached 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 major exporter of liquid or compressed air and distilled or conductivity water, mixing up 60% of total exports. Cote d'Ivoire (X kg) took the second position in the ranking, distantly followed by Togo (X kg), Senegal (X kg) and Ghana (X kg). All these countries together took near 37% share of total exports. Cabo Verde (X kg) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to liquid air and distilled water exports from Nigeria stood at +26.7%. At the same time, Cote d'Ivoire (+46.0%) and Senegal (+5.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +46.0% from 2012-2021. By contrast, Togo (-2.1%), Cabo Verde (-2.9%) and Ghana (-33.1%) illustrated a downward trend over the same period. Nigeria (+57 p.p.), Cote d'Ivoire (+18 p.p.), Senegal (+5 p.p.) and Togo (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -77.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) emerged as the largest liquid air and distilled water supplier in ECOWAS, comprising 45% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 21% share of total exports. It was followed by Senegal, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +22.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+35.2% per year) and Senegal (+4.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by -18.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 64% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 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 Senegal ($X per ton), while Cabo Verde ($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 (+2.3%), while the other leaders experienced a decline in the export price figures.

Imports of Liquid Or Compressed Air And Distilled Or Conductivity Water

Imports in ECOWAS

Liquid air and distilled water imports rose rapidly to X tons in 2021, increasing by 11% against 2020 figures. In general, imports enjoyed a slight increase. The pace of growth was the most pronounced in 2020 when imports increased by 103%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, liquid air and distilled water imports fell modestly to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 90% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Ghana (X tons) and Cabo Verde (X tons) prevails in imports structure, together mixing up 81% of total imports. It was distantly followed by Niger (X tons), mixing up a 5.1% share of total imports. Nigeria (X tons) and Mali (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Niger (with a CAGR of +32.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest liquid air and distilled water importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cabo Verde ($X), together comprising 77% of total imports.

Cabo Verde, with a CAGR of +18.0%, 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

The import price in ECOWAS stood at $X per ton in 2021, declining by -10.6% against the previous year. In general, the import price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2017 when the import price increased by 76% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Cabo Verde ($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 (+18.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform