Ghana: Market for Caustic Soda in the Solid Form 2024

Market Size for Caustic Soda in the Solid Form in Ghana

The Ghanian market for caustic soda in the solid form declined sharply to $X in 2021, with a decrease of -21.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed temperate growth. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Exports of Caustic Soda in the Solid Form

Exports from Ghana

In 2021, overseas shipments of caustic soda in the solid form decreased by -22.4% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 168%. Over the period under review, the exports of caustic soda in solid form attained the peak figure at X tons in 2020, and then fell significantly in the following year.

In value terms, exports of caustic soda in the solid form reduced to $X in 2021. In general, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 29%. Over the period under review, the exports of caustic soda in solid form hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Mali (X tons), Togo (X tons) and Niger (X tons) were the main destinations of exports of caustic soda in the solid form from Ghana, together comprising 87% of total exports.

From 2012 to 2021, the biggest increases were recorded for Mali (with a CAGR of +205.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X) remains the key foreign market for caustic soda in the solid form exports from Ghana, comprising 71% of total exports. The second position in the ranking was taken by Niger ($X), with a 9.6% share of total exports. It was followed by Togo, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value to Mali stood at +179.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+109.1% per year) and Togo (+74.3% per year).

Export Prices by Country

The average export price for caustic soda in the solid form stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, the export price, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 20%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mali ($X per ton), while the average price for exports to Togo ($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 Niger (+0.8%), while the prices for the other major destinations experienced a decline.

Imports of Caustic Soda in the Solid Form

Imports into Ghana

In 2021, the amount of caustic soda in the solid form imported into Ghana shrank remarkably to X tons, falling by -26.6% against 2020 figures. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 113% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, imports of caustic soda in the solid form declined notably to $X in 2021. Overall, imports, however, saw a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of 65% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest caustic soda in the solid form supplier to Ghana, with a 41% share of total imports. Moreover, imports of caustic soda in the solid form from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Saudi Arabia (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.1% per year) and Saudi Arabia (+12.4% per year).

In value terms, China ($X) constituted the largest supplier of caustic soda in the solid form to Ghana, comprising 36% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total imports. It was followed by Kuwait, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+7.1% per year) and Kuwait (+37.0% per year).

Import Prices by Country

The average import price for caustic soda in the solid form stood at $X per ton in 2021, increasing by 9.3% against the previous year. Over the period under review, the import price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2016 an increase of 30%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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