Ghana: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Ghana

In 2022, the Ghanian reaction initiators and accelerators market decreased by -1.3% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Ghana

In 2022, shipments abroad of reaction initiators, reaction accelerators and catalytic preparations increased by 25% to X tons, rising for the third consecutive year after two years of decline. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 129% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, reaction initiators and accelerators exports skyrocketed to $X in 2022. Over the period under review, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 223%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso (X tons) was the main destination for reaction initiators and accelerators exports from Ghana, accounting for a 92% share of total exports. Moreover, reaction initiators and accelerators exports to Burkina Faso exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Burkina Faso totaled +94.6%.

In value terms, the largest markets for reaction initiators and accelerators exported from Ghana were Burkina Faso ($X) and Germany ($X).

Germany, with a CAGR of +96.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average reaction initiators and accelerators export price stood at $X per ton in 2022, picking up by 7.9% against the previous year. Overall, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2013 when the average export price increased by 56% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Burkina Faso stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+48.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Ghana

In 2022, overseas purchases of reaction initiators, reaction accelerators and catalytic preparations were finally on the rise to reach X tons after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 26%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, reaction initiators and accelerators imports reduced to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 23%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of reaction initiators and accelerators to Ghana, accounting for a 53% share of total imports. Moreover, reaction initiators and accelerators imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Brazil (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+70.5% per year) and Brazil (+18.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of reaction initiators, reaction accelerators and catalytic preparations to Ghana, comprising 52% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Australia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+72.7% per year) and Australia (+47.8% per year).

Import Prices by Country

In 2022, the average reaction initiators and accelerators import price amounted to $X per ton, waning by -9.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 39%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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