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Report ECOWAS - Nitrates of Potassium - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

ECOWAS - Nitrates of Potassium - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Potassium Nitrate Market 2024

Potassium Nitrate Market Size in ECOWAS

The ECOWAS potassium nitrate market fell to $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, enjoyed a resilient increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Potassium Nitrate Production in ECOWAS

In value terms, potassium nitrate production declined modestly to $X in 2022 estimated in export price. In general, production saw notable growth. The pace of growth was the most pronounced in 2016 when the production volume increased by 33%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Potassium Nitrate Exports

Exports in ECOWAS

In 2022, overseas shipments of potassium nitrates decreased by -70.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 228%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, potassium nitrate exports reduced rapidly to $X in 2022. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of 125%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Cote d'Ivoire (X tons) and Ghana (X tons) represented the main exporters of potassium nitrates in ECOWAS, together reaching near 85% of total exports. It was distantly followed by Burkina Faso (X kg), mixing up a 15% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +9.3%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X), Burkina Faso ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of exports in 2022.

Ghana, with a CAGR of +8.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, with an increase of 68% against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-1.1%), while the other leaders experienced a decline in the export price figures.

Potassium Nitrate Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in purchases abroad of potassium nitrates, when their volume decreased by -17.3% to X tons. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 93% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted rapidly in the following year.

In value terms, potassium nitrate imports plummeted to $X in 2022. Overall, imports, however, enjoyed a temperate increase. The pace of growth appeared the most rapid in 2018 when imports increased by 95%. Over the period under review, imports hit record highs at $X in 2021, and then shrank markedly in the following year.

Imports by Country

Nigeria represented the main importing country with an import of around X tons, which recorded 54% of total imports. Senegal (X tons) took the second position in the ranking, distantly followed by Ghana (X tons). All these countries together took approx. 41% share of total imports. Cote d'Ivoire (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +13.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Senegal ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, together comprising 94% of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +7.1%, 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 2022, standing approx. at the previous year. Overall, the import price, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 an increase of 7.3%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per ton) and Senegal ($X per ton), while Nigeria ($X per ton) and Ghana ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (-2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the potassium nitrate market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 4025 -

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in ECOWAS, split by region and country
  • Trade (exports and imports) in ECOWAS
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Niger
    • Nigeria
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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