ECOWAS: Propellant Powders Market 2024

Propellant Powders Market Size in ECOWAS

After two years of decline, the ECOWAS propellant powders market increased by 3.7% to $X in 2021. The total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 decreased by -17.6% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Propellant Powders Production in ECOWAS

In value terms, propellant powders production rose remarkably to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.3% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 32%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Propellant Powders Exports

Exports in ECOWAS

Propellant powders exports soared to X tons in 2020, jumping by 15% against 2019 figures. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 33,107% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2020, the exports failed to regain momentum.

In value terms, propellant powders exports fell significantly to $X in 2020. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2019 with an increase of 28,849% against the previous year. As a result, the exports reached the peak of $X, and then reduced markedly in the following year.

Exports by Country

In 2020, Nigeria (X tons) represented the key exporter of propellant powders in ECOWAS, comprising 100% of total export.

Nigeria was also the fastest-growing in terms of the propellant powders exports, with a CAGR of +99.9% from 2012 to 2020. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest propellant powders supplier in ECOWAS.

In Nigeria, propellant powders exports increased at an average annual rate of +71.3% over the period from 2012-2020.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2020, dropping by -33.4% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 an increase of 4,543%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2020, the export prices stood at a somewhat lower figure.

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

From 2012 to 2020, the rate of growth in terms of prices for Nigeria amounted to -14.3% per year.

Propellant Powders Imports

Imports in ECOWAS

In 2021, imports of propellant powders in ECOWAS contracted remarkably to X tons, waning by -38.6% compared with the year before. Overall, imports saw a precipitous setback. The pace of growth was the most pronounced in 2019 with an increase of 193% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, propellant powders imports reduced rapidly to $X in 2021. In general, imports faced a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 77% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mali represented the largest importer of propellant powders in ECOWAS, with the volume of imports resulting at X tons, which was approx. 63% of total imports in 2021. Nigeria (X kg) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Sierra Leone (8.2%). Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to propellant powders imports into Mali stood at -23.3%. Ghana (-20.0%), Nigeria (-32.0%) and Sierra Leone (-39.5%) illustrated a downward trend over the same period. Mali (+36 p.p.) and Ghana (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Sierra Leone saw its share reduced by -7% and -22.1% from 2012 to 2021, respectively.

In value terms, Mali ($X) constitutes the largest market for imported propellant powders in ECOWAS, comprising 66% of total imports. The second position in the ranking was held by Nigeria ($X), with a 22% share of total imports. It was followed by Sierra Leone, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Mali totaled -11.2%. In the other countries, the average annual rates were as follows: Nigeria (-22.3% per year) and Sierra Leone (-26.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, increasing by 15% against the previous year. In general, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 an increase of 85% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+21.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform