Western Africa: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Western Africa

The West African ammonium nitrate market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ammonium Nitrate Production in Western Africa

In value terms, ammonium nitrate production expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 41%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Ammonium Nitrate Exports

Exports in Western Africa

In 2021, overseas shipments of ammonium nitrate decreased by -15.7% to X tons, falling for the second consecutive year after two years of growth. Overall, exports faced a deep reduction. The growth pace was the most rapid in 2018 with an increase of 116%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, ammonium nitrate exports contracted to $X in 2021. In general, exports saw a deep downturn. The growth pace was the most rapid in 2018 when exports increased by 84%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Mali (X tons) and Cote d'Ivoire (X tons) represented roughly 73% of total exports in 2021. Senegal (X tons) held the next position in the ranking, distantly followed by Ghana (X tons). All these countries together held approx. 22% share of total exports. Guinea (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +44.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest ammonium nitrate supplying countries in Western Africa were Mali ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined 87% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +42.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, picking up by 10% against the previous year. In general, the export price, however, saw a mild descent. The pace of growth was the most pronounced in 2016 an increase of 14%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Ammonium Nitrate Imports

Imports in Western Africa

In 2021, approx. X tons of ammonium nitrate were imported in Western Africa; jumping by 71% compared with the previous year's figure. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ammonium nitrate imports skyrocketed to $X in 2021. Overall, imports, however, showed a slight contraction. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Ghana was the major importing country with an import of around X tons, which reached 50% of total imports. Senegal (X tons) ranks second in terms of the total imports with a 12% share, followed by Nigeria (12%), Mauritania (7.5%) and Cote d'Ivoire (7.2%). Guinea (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

Ghana experienced a relatively flat trend pattern with regard to volume of imports of ammonium nitrate. At the same time, Burkina Faso (+30.7%), Senegal (+19.6%), Cote d'Ivoire (+14.5%), Nigeria (+6.9%) and Guinea (+3.6%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +30.7% from 2012-2021. By contrast, Mauritania (-2.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Cote d'Ivoire, Nigeria and Burkina Faso increased by +9.3, +4.6, +3.9 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported ammonium nitrate in Western Africa, comprising 48% of total imports. The second position in the ranking was held by Senegal ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 9% share.

In Ghana, ammonium nitrate imports contracted by an average annual rate of -1.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+13.0% per year) and Cote d'Ivoire (+10.0% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, with an increase of 6.1% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decline. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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