Ghana: Hydrogen Peroxide Market 2024

Hydrogen Peroxide Market Size in Ghana

In 2022, after two years of growth, there was significant decline in the Ghanian hydrogen peroxide market, when its value decreased by -15% to $X. Overall, consumption saw a relatively flat trend pattern. Hydrogen peroxide consumption peaked at $X in 2021, and then shrank remarkably in the following year.

Hydrogen Peroxide Exports

Exports from Ghana

In 2022, shipments abroad of hydrogen peroxide was finally on the rise to reach X tons after three years of decline. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 3,521%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hydrogen peroxide exports soared to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 5,521% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for hydrogen peroxide exports from Ghana, accounting for a 67% share of total exports. Moreover, hydrogen peroxide exports to Burkina Faso exceeded the volume sent to the second major destination, Mali (X tons), threefold. Cote d'Ivoire (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso amounted to +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mali (+19.7% per year) and Cote d'Ivoire (+73.6% per year).

In value terms, the largest markets for hydrogen peroxide exported from Ghana were Mali ($X), Burkina Faso ($X) and Cote d'Ivoire ($X), with a combined 99% share of total exports.

Burkina Faso, with a CAGR of +49.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hydrogen peroxide export price amounted to $X per ton, waning by -9.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 58% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Mali ($X per ton), while the average price for exports to Burkina Faso ($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 Niger (+8.9%), while the prices for the other major destinations experienced mixed trend patterns.

Hydrogen Peroxide Imports

Imports into Ghana

In 2022, purchases abroad of hydrogen peroxide decreased by -9.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, posted measured growth. The growth pace was the most rapid in 2020 with an increase of 135%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, hydrogen peroxide imports contracted notably to $X in 2022. Over the period under review, imports saw a slight contraction. The growth pace was the most rapid in 2020 when imports increased by 92%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted significantly in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of hydrogen peroxide to Ghana, accounting for a 52% share of total imports. Moreover, hydrogen peroxide imports from South Korea exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was held by Belgium (X tons), with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.6% per year) and Belgium (-11.9% per year).

In value terms, South Korea ($X) constituted the largest supplier of hydrogen peroxide to Ghana, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.2% per year) and Belgium (-14.2% per year).

Import Prices by Country

In 2022, the average hydrogen peroxide import price amounted to $X per ton, which is down by -6.4% against the previous year. Overall, the import price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 6%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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