ECOWAS: Peroxides Of Sodium Market 2024

Peroxides Of Sodium Market Size in ECOWAS

In 2021, the ECOWAS peroxides of sodium market decreased by -26.4% to $X, falling for the second consecutive year after two years of growth. Overall, consumption recorded a significant decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Peroxides Of Sodium Production in ECOWAS

In value terms, peroxides of sodium production declined modestly to $X in 2021 estimated in export price. The total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.3% 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 +4.9% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 94% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Peroxides Of Sodium Exports

Exports in ECOWAS

For the fourth year in a row, ECOWAS recorded decline in overseas shipments of peroxides of sodium or potassium, which decreased by -22.3% to X tons in 2021. Over the period under review, exports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 2,018%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, peroxides of sodium exports expanded markedly to $X in 2021. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 2,160%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Togo represented the largest exporting country with an export of around X tons, which amounted to 89% of total exports. It was distantly followed by Cote d'Ivoire (X kg), constituting an 11% share of total exports.

Togo was also the fastest-growing in terms of the peroxides of sodium or potassium exports, with a CAGR of +59.3% from 2012 to 2021. Cote d'Ivoire experienced a relatively flat trend pattern. While the share of Togo (+84 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-26.2 p.p.) displayed negative dynamics.

In value terms, Togo ($X) remains the largest peroxides of sodium supplier in ECOWAS, comprising 84% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Togo totaled +44.5%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, growing by 48% against the previous year. Overall, the export price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 when the export price increased by 81%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per ton), while Togo totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+17.5%).

Peroxides Of Sodium Imports

Imports in ECOWAS

In 2021, supplies from abroad of peroxides of sodium or potassium decreased by -38.4% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 93% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, peroxides of sodium imports shrank remarkably to $X in 2021. In general, imports saw a significant decrease. The pace of growth was the most pronounced in 2019 with an increase of 117%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Senegal (X tons) represented the largest importer of peroxides of sodium or potassium, committing 62% of total imports. It was distantly followed by Niger (X tons), constituting a 27% share of total imports. The following importers - Cabo Verde (X tons) and Gambia (X tons) - together made up 7.2% of total imports.

Imports into Senegal decreased at an average annual rate of -9.8% from 2012 to 2021. At the same time, Cabo Verde (+41.1%) and Gambia (+29.3%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +41.1% from 2012-2021. By contrast, Niger (-34.1%) illustrated a downward trend over the same period. While the share of Senegal (+51 p.p.), Cabo Verde (+3.8 p.p.) and Gambia (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Niger (-57.2 p.p.) displayed negative dynamics.

In value terms, Niger ($X), Senegal ($X) and Gambia ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 97% of total imports. These countries were followed by Cabo Verde, which accounted for a further 0.9%.

Among the main importing countries, Cabo Verde, with a CAGR of +18.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, picking up by 22% against the previous year. Overall, the import price, however, showed a abrupt contraction. The growth pace was the most rapid in 2013 an increase of 67%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Niger ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform