ECOWAS: Market for Caustic Soda in the Solid Form 2024

Exports of Caustic Soda in the Solid Form

Exports in ECOWAS

For the third year in a row, ECOWAS recorded decline in shipments abroad of caustic soda in the solid form, which decreased by -5.8% to X tons in 2021. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 64% against the previous year. Over the period under review, the exports of caustic soda in solid form reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of caustic soda in the solid form fell to $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 54%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

In 2021, Cote d'Ivoire (X tons), distantly followed by Ghana (X tons), Senegal (X tons) and Nigeria (X tons) represented the key exporters of caustic soda in the solid form, together making up 85% of total exports. The following exporters - Mali (X tons), Liberia (X tons) and Benin (X tons) - together made up 11% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Liberia (with a CAGR of +13.9%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest caustic soda in the solid form supplier in ECOWAS, comprising 67% of total exports. The second position in the ranking was held by Senegal ($X), with a 10% share of total exports. It was followed by Ghana, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire stood at +9.3%. In the other countries, the average annual rates were as follows: Senegal (+9.2% per year) and Ghana (-2.9% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, remaining constant against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 27% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+10.7%), while the other leaders experienced more modest paces of growth.

Imports of Caustic Soda in the Solid Form

Imports in ECOWAS

In 2021, supplies from abroad of caustic soda in the solid form decreased by -3.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.1% against 2016 indices. The pace of growth appeared the most rapid in 2016 with an increase of 40%. Over the period under review, imports of caustic soda in solid form attained the maximum at X tons in 2020, and then shrank modestly in the following year.

In value terms, imports of caustic soda in the solid form rose markedly to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.9% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 69% against the previous year. Over the period under review, imports of caustic soda in solid form attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Nigeria represented the major importer of caustic soda in the solid form in ECOWAS, with the volume of imports recording X tons, which was approx. 40% of total imports in 2021. Cote d'Ivoire (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (17%) and Guinea (5.8%). The following importers - Senegal (X tons), Burkina Faso (X tons) and Mali (X tons) - together made up 10% of total imports.

Imports into Nigeria increased at an average annual rate of +5.9% from 2012 to 2021. At the same time, Senegal (+10.1%), Guinea (+7.6%), Ghana (+6.3%), Cote d'Ivoire (+6.1%), Mali (+3.8%) and Burkina Faso (+3.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +10.1% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported caustic soda in the solid form in ECOWAS, comprising 43% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 19% share of total imports. It was followed by Ghana, with a 13% share.

In Nigeria, imports of caustic soda in the solid form increased at an average annual rate of +6.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+6.5% per year) and Ghana (+1.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 14% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 28% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform