Western Africa: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Western Africa

The West African sodium phosphates market soared to $X in 2021, growing by 30% against the previous year. Over the period under review, consumption recorded a moderate increase. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Sodium Phosphates Production in Western Africa

In value terms, sodium phosphates production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 29%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Sodium Phosphates Exports

Exports in Western Africa

In 2021, shipments abroad of phosphates of mono- or di-sodium decreased by -5.4% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports saw a deep setback. The growth pace was the most rapid in 2016 with an increase of 250%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, sodium phosphates exports contracted to $X in 2021. Overall, exports recorded a deep slump. The pace of growth appeared the most rapid in 2017 when exports increased by 306%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of phosphates of mono- or di-sodium, namely Sierra Leone, represented more than two-thirds of total export.

Sierra Leone was also the fastest-growing in terms of the phosphates of mono- or di-sodium exports, with a CAGR of -5.4% from 2012 to 2021. From 2012 to 2021, the share of Sierra Leone increased by +12 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) also remains the largest sodium phosphates supplier in Western Africa.

In Sierra Leone, sodium phosphates exports contracted by an average annual rate of -8.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, which is down by -4% against the previous year. Over the period under review, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2017 an increase of 98%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Sierra Leone.

From 2012 to 2021, the rate of growth in terms of prices for Sierra Leone amounted to -3.1% per year.

Sodium Phosphates Imports

Imports in Western Africa

In 2021, approx. X tons of phosphates of mono- or di-sodium were imported in Western Africa; rising by 33% compared with the year before. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 94% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sodium phosphates imports skyrocketed to $X in 2021. Overall, imports recorded a moderate expansion. The growth pace was the most rapid in 2016 when imports increased by 92%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the major importing country with an import of around X tons, which amounted to 73% of total imports. Ghana (X tons) held the second position in the ranking, distantly followed by Senegal (X tons). All these countries together took near 25% share of total imports.

Imports into Nigeria increased at an average annual rate of +2.6% from 2012 to 2021. At the same time, Senegal (+37.1%) and Ghana (+20.2%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +37.1% from 2012-2021. From 2012 to 2021, the share of Ghana and Senegal increased by +14 and +4.4 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported phosphates of mono- or di-sodium in Western Africa, comprising 70% of total imports. The second position in the ranking was held by Ghana ($X), with a 22% share of total imports.

In Nigeria, sodium phosphates imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+16.7% per year) and Senegal (+27.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, flattening at the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2013 when the import price increased by 28%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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