Ghana: Halogenated Hydrocarbon Derivative Market 2024

Halogenated Hydrocarbon Derivative Market Size in Ghana

After five years of growth, the Ghanian halogenated hydrocarbon derivative market decreased by -18.7% to $X in 2022. Over the period under review, consumption, however, posted strong growth. Over the period under review, the market attained the peak level at $X in 2021, and then declined remarkably in the following year.

Halogenated Hydrocarbon Derivative Exports

Exports from Ghana

In 2022, the amount of halogenated derivatives of hydrocarbons exported from Ghana shrank dramatically to X tons, which is down by -22.3% compared with the previous year's figure. In general, exports, however, showed mild growth. The pace of growth was the most pronounced in 2016 with an increase of 1,510% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, halogenated hydrocarbon derivative exports dropped to $X in 2022. Over the period under review, exports recorded a perceptible setback. The growth pace was the most rapid in 2016 when exports increased by 1,973% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X kg), Burkina Faso (X kg) and Benin (X kg) were the main destinations of halogenated hydrocarbon derivative exports from Ghana, with a combined 88% share of total exports. The UK lagged somewhat behind, comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +23.1%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for halogenated derivatives of hydrocarbons exports from Ghana, comprising 52% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 20% share of total exports. It was followed by Niger, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-13.3% per year) and Niger (+11.6% per year).

Export Prices by Country

In 2022, the average halogenated hydrocarbon derivative export price amounted to $X per ton, growing by 9.5% against the previous year. Overall, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 199% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+216.3%), while the prices for the other major destinations experienced mixed trend patterns.

Halogenated Hydrocarbon Derivative Imports

Imports into Ghana

In 2022, overseas purchases of halogenated derivatives of hydrocarbons decreased by -7.9% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 48%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, halogenated hydrocarbon derivative imports reduced dramatically to $X in 2022. Overall, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 96% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of halogenated hydrocarbon derivative to Ghana, accounting for a 60% share of total imports. Moreover, halogenated hydrocarbon derivative imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), ninefold. Germany (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+28.9% per year) and Germany (+83.6% per year).

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of hydrocarbons to Ghana, comprising 56% of total imports. The second position in the ranking was held by India ($X), with a 24% share of total imports. It was followed by the United Arab Emirates, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+39.1% per year) and the United Arab Emirates (+17.3% per year).

Import Prices by Country

The average halogenated hydrocarbon derivative import price stood at $X per ton in 2022, waning by -15.5% against the previous year. In general, the import price, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by 70%. As a result, import price attained the peak level of $X per ton, and then fell sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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