Western Africa: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in Western Africa

The West African hydrogen chloride market shrank slightly to $X in 2021, waning by -4.5% against the previous year. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +4.3% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Hydrogen Chloride Production in Western Africa

In value terms, hydrogen chloride production contracted to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Hydrogen Chloride Exports

Exports in Western Africa

In 2021, overseas shipments of hydrogen chloride (hydrochloric acid) increased by 9.3% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 22% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hydrogen chloride exports contracted to $X in 2021. Overall, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 when exports increased by 30%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Sierra Leone (X tons) and Ghana (X tons) represented the main exporters of hydrogen chloride (hydrochloric acid) in 2021, reaching approx. 39% and 35% of total exports, respectively. Cote d'Ivoire (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (8.8%). Togo (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +24.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Ghana ($X) remains the largest hydrogen chloride supplier in Western Africa, comprising 63% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 14% share of total exports. It was followed by Burkina Faso, with a 10% share.

In Ghana, hydrogen chloride exports increased at an average annual rate of +18.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (-5.4% per year) and Burkina Faso (-13.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, dropping by -13.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 an increase of 63%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-1.9%), while the other leaders experienced a decline in the export price figures.

Hydrogen Chloride Imports

Imports in Western Africa

After two years of growth, purchases abroad of hydrogen chloride (hydrochloric acid) decreased by -22% to X tons in 2021. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 23%. The volume of import peaked at X tons in 2020, and then fell notably in the following year.

In value terms, hydrogen chloride imports fell sharply to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 29% against the previous year. As a result, imports attained the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2021, Nigeria (X tons) represented the key importer of hydrogen chloride (hydrochloric acid), creating 39% of total imports. It was distantly followed by Ghana (X tons), Guinea (X tons), Cote d'Ivoire (X tons), Senegal (X tons), Burkina Faso (X tons) and Mali (X tons), together generating a 55% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +16.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported hydrogen chloride (hydrochloric acid) in Western Africa, comprising 48% of total imports. The second position in the ranking was taken by Ghana ($X), with a 13% share of total imports. It was followed by Burkina Faso, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +5.2%. In the other countries, the average annual rates were as follows: Ghana (-4.6% per year) and Burkina Faso (+1.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, growing by 6% against the previous year. Over the period under review, the import price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 14% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :