ECOWAS: Market for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution 2025

Market Size for Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in ECOWAS

The ECOWAS market for mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution declined slightly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption, however, recorded a significant expansion. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Production of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution in ECOWAS

In value terms, production of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution reduced modestly to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 32%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth failed to regain momentum.

Exports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Exports in ECOWAS

After four years of growth, overseas shipments of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution decreased by -12.1% to X tons in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 309%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution shrank to $X in 2022. Over the period under review, exports recorded a precipitous contraction. The pace of growth was the most pronounced in 2016 when exports increased by 247% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution, namely Ghana, represented more than two-thirds of total export.

Ghana was also the fastest-growing in terms of the mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution exports, with a CAGR of +46.4% from 2012 to 2022. From 2012 to 2022, the share of Ghana increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) also remains the largest mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution supplier in ECOWAS.

In Ghana, exports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution increased at an average annual rate of +17.9% over the period from 2012-2022.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with an increase of 12% against the previous year. In general, the export price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 129% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to -19.5% per year.

Imports of Mixtures of Urea and Ammonium Nitrate in Aqueous or Ammoniacal Solution

Imports in ECOWAS

Imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution contracted to X tons in 2022, with a decrease of -6.8% on 2021 figures. Overall, imports, however, saw a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 372% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution fell to $X in 2022. In general, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2013 when imports increased by 265% against the previous year. Over the period under review, imports of attained the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

Ghana (X tons) and Mali (X tons) prevails in solution structure, together comprising 89% of total imports. It was distantly followed by Togo (X tons), mixing up an 8.6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ghana (with a CAGR of +37.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported mixtures of urea and ammonium nitrate in aqueous or ammoniacal solution in ECOWAS, comprising 87% of total imports. The second position in the ranking was held by Mali ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to +35.9%. In the other countries, the average annual rates were as follows: Mali (+31.1% per year) and Togo (+29.1% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, falling by -3.6% against the previous year. Over the period under review, the import price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 an increase of 33%. The level of import peaked at $X per ton in 2021, and then dropped slightly in the following year.

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 Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform