ECOWAS: Sulphonamides Market 2024

Sulphonamides Market Size in ECOWAS

After five years of growth, the ECOWAS sulphonamides market decreased by -28.9% to $X in 2021. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% 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 increased by +51.8% against 2015 indices. As a result, consumption reached the peak level of $X, and then reduced dramatically in the following year.

Sulphonamides Production in ECOWAS

In value terms, sulphonamides production contracted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate temperate growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 68%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Sulphonamides Exports

Exports in ECOWAS

In 2021, the amount of sulphonamides exported in ECOWAS skyrocketed to X tons, increasing by 343,800% on 2020 figures. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphonamides exports skyrocketed to $X in 2021. In general, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal prevails in exports structure, recording X tons, which was near 93% of total exports in 2021. It was distantly followed by Togo (X kg), comprising a 7.1% share of total exports.

Senegal was also the fastest-growing in terms of the sulphonamides exports, with a CAGR of +84.3% from 2012 to 2021. Togo (-8.1%) illustrated a downward trend over the same period. Senegal (+90 p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by -89.4% from 2012 to 2021, respectively.

From 2012 to 2021, the average annual growth rate of value in Senegal stood at +21.5%.

Export Prices by Country

The export price in ECOWAS stood at $X per kg in 2021, shrinking by -96% against the previous year. Over the period under review, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2016 when the export price increased by 16,372% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Togo ($X per kg), while Senegal totaled $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-3.8%).

Sulphonamides Imports

Imports in ECOWAS

In 2021, the amount of sulphonamides imported in ECOWAS contracted remarkably to X tons, dropping by -30.1% on 2020 figures. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 73% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then fell notably in the following year.

In value terms, sulphonamides imports reduced rapidly to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 62% against the previous year. As a result, imports reached the peak of $X, and then shrank sharply in the following year.

Imports by Country

Nigeria represented the largest importer of sulphonamides in ECOWAS, with the volume of imports resulting at X tons, which was near 77% of total imports in 2021. Senegal (X tons) held the second position in the ranking, followed by Ghana (X tons). All these countries together took near 18% share of total imports. Mali (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sulphonamides imports into Nigeria stood at +1.1%. At the same time, Mali (+31.3%) and Senegal (+6.6%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +31.3% from 2012-2021. By contrast, Ghana (-7.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Nigeria and Mali increased by +4.4, +4.1 and +1.9 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported sulphonamides in ECOWAS, comprising 82% of total imports. The second position in the ranking was taken by Ghana ($X), with an 8.9% share of total imports. It was followed by Senegal, with a 3.3% share.

In Nigeria, sulphonamides imports expanded at an average annual rate of +1.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (-6.9% per year) and Senegal (+1.2% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, falling by -28.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 104%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+0.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform