Ghana: Metal Pickling Preparations Market 2024

Metal Pickling Preparations Market Size in Ghana

The Ghanian metal pickling preparations market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -26.0% against 2017 indices. Metal pickling preparations consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Metal Pickling Preparations Production in Ghana

In value terms, metal pickling preparations production stood at $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -32.0% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 51%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Metal Pickling Preparations Exports

Exports from Ghana

In 2021, overseas shipments of pickling preparations for metal surfaces increased by 509% to X tons, rising for the second year in a row after two years of decline. Overall, exports showed a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,667% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, metal pickling preparations exports soared to $X in 2021. Over the period under review, exports showed a slight expansion. The pace of growth appeared the most rapid in 2020 with an increase of 312%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Togo (X tons), Burkina Faso (X tons) and Cote d'Ivoire (X kg) were the main destinations of metal pickling preparations exports from Ghana.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +22.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Burkina Faso ($X) remains the key foreign market for pickling preparations for metal surfaces exports from Ghana, comprising 85% of total exports. The second position in the ranking was taken by Togo ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Burkina Faso stood at +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (0.0% per year) and Cote d'Ivoire (-48.8% per year).

Export Prices by Country

The average metal pickling preparations export price stood at $X per ton in 2021, reducing by -67.7% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by 410% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Togo ($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 Cote d'Ivoire (+29.4%).

Metal Pickling Preparations Imports

Imports into Ghana

In 2021, approx. X tons of pickling preparations for metal surfaces were imported into Ghana; dropping by -64.7% on the previous year's figure. In general, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 221% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, metal pickling preparations imports contracted dramatically to $X in 2021. Over the period under review, imports showed a deep reduction. The growth pace was the most rapid in 2018 with an increase of 241% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest metal pickling preparations supplier to Ghana, with a 67% share of total imports. Moreover, metal pickling preparations imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Australia (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.0% per year) and Australia (-19.2% per year).

In value terms, the largest metal pickling preparations suppliers to Ghana were India ($X), China ($X) and Australia ($X), with a combined 73% share of total imports.

China, with a CAGR of +9.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average metal pickling preparations import price amounted to $X per ton, increasing by 29% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 South Africa ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+18.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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