Ghana: Anti-Freezing Preparations Market 2024

Anti-Freezing Preparations Market Size in Ghana

After two years of decline, the Ghanian anti-freezing preparations market increased by 37% to $X in 2021. Overall, consumption recorded a resilient increase. Anti-freezing preparations consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Anti-Freezing Preparations Exports

Exports from Ghana

In 2021, shipments abroad of anti-freezing preparations and prepared de-icing fluids decreased by -90.8% to X tons, falling for the third year in a row after seven years of growth. In general, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2014 with an increase of 81% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, anti-freezing preparations exports fell rapidly to $X in 2021. Overall, exports saw a precipitous shrinkage. The growth pace was the most rapid in 2016 with an increase of 99%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria (X kg), Belgium (X kg) and Cote d'Ivoire (X kg) were the main destinations of anti-freezing preparations exports from Ghana, with a combined 88% share of total exports. These countries were followed by Burkina Faso, which accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Burkina Faso (with a CAGR of +31.1%), while the other leaders experienced a decline.

In value terms, Nigeria ($X) remains the key foreign market for anti-freezing preparations and prepared de-icing fluids exports from Ghana, comprising 62% of total exports. The second position in the ranking was taken by Belgium ($X), with a 15% share of total exports. It was followed by Cote d'Ivoire, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria amounted to -21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-23.3% per year) and Cote d'Ivoire (-16.6% per year).

Export Prices by Country

In 2021, the average anti-freezing preparations export price amounted to $X per ton, reducing by -24% against the previous year. Over the period under review, the export price saw a abrupt decline. The growth pace was the most rapid in 2013 when the average export price increased by 44% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (-2.7%), while the prices for the other major destinations experienced a decline.

Anti-Freezing Preparations Imports

Imports into Ghana

In 2021, the amount of anti-freezing preparations and prepared de-icing fluids imported into Ghana soared to X tons, jumping by 22% compared with the year before. Over the period under review, imports posted a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 98% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, anti-freezing preparations imports skyrocketed to $X in 2021. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 97% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of anti-freezing preparations to Ghana, with a 43% share of total imports. Moreover, anti-freezing preparations imports from the United States exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Morocco (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.2% per year) and Morocco (+65.8% per year).

In value terms, France ($X), the United States ($X) and Morocco ($X) appeared to be the largest anti-freezing preparations suppliers to Ghana, together comprising 43% of total imports. These countries were followed by Belgium, South Africa, Turkey, Israel and the United Arab Emirates, which together accounted for a further 13%.

Israel, with a CAGR of +35.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average anti-freezing preparations import price amounted to $X per ton, growing by 18% against the previous year. In general, the import price, however, saw a pronounced slump. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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