ECOWAS: Zinc Oxide Market 2024

Zinc Oxide Market Size in ECOWAS

The ECOWAS zinc oxide market reached $X in 2022, surging by X% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Zinc Oxide Production in ECOWAS

In value terms, zinc oxide production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Zinc Oxide Exports

Exports in ECOWAS

In 2022, shipments abroad of zinc oxide and zinc peroxide decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, zinc oxide exports dropped notably to $X in 2022. Overall, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Senegal (X tons), making up a X% share of total exports.

Nigeria was also the fastest-growing in terms of the zinc oxide and zinc peroxide exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Senegal ($X per ton), while Nigeria totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Zinc Oxide Imports

Imports in ECOWAS

Zinc oxide imports surged to X tons in 2022, picking up by X% against 2021 figures. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, zinc oxide imports skyrocketed to $X in 2022. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Nigeria (X tons) represented the largest importer of zinc oxide and zinc peroxide, achieving X% of total imports. Ghana (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to zinc oxide imports into Nigeria stood at X%. At the same time, Ghana (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal and Cote d'Ivoire saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported zinc oxide and zinc peroxide in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform