Western Africa: Phosphinates And Phosphonates Market 2024

Phosphinates And Phosphonates Market Size in Western Africa

The West African phosphinates and phosphonates market amounted to $X in 2022, remaining constant against the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.9% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Phosphinates And Phosphonates Production in Western Africa

In value terms, phosphinates and phosphonates production stood at $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 52%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Phosphinates And Phosphonates Exports

Exports in Western Africa

In 2022, the amount of phosphinates (hypophosphites) and phosphonates (phosphites) exported in Western Africa plummeted to X tons, with a decrease of -40.1% compared with 2021 figures. Over the period under review, exports, however, saw significant growth. The volume of export peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, phosphinates and phosphonates exports reduced remarkably to $X in 2022. In general, exports, however, enjoyed significant growth. The level of export peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Senegal (X tons) represented roughly 100% of total exports in 2022.

Senegal was also the fastest-growing in terms of the phosphinates (hypophosphites) and phosphonates (phosphites) exports, with a CAGR of +109.0% from 2017 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest phosphinates and phosphonates supplier in Western Africa.

In Senegal, phosphinates and phosphonates exports increased at an average annual rate of +113.5% over the period from 2017-2022.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by -1.7% against the previous year. Over the last five-year period, it increased at an average annual rate of +5.5%. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

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

From 2017 to 2022, the rate of growth in terms of prices for Senegal amounted to +2.2% per year.

Phosphinates And Phosphonates Imports

Imports in Western Africa

In 2022, the amount of phosphinates (hypophosphites) and phosphonates (phosphites) imported in Western Africa shrank to X tons, which is down by -10.3% compared with 2021 figures. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 168% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, phosphinates and phosphonates imports declined to $X in 2022. Overall, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 142% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria (X tons) and Ghana (X tons) dominates imports structure, together mixing up 86% of total imports. It was distantly followed by Cote d'Ivoire (X tons), making up a 5% share of total imports. Cabo Verde (X tons) and Mauritania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Ghana (with a CAGR of +30.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phosphinates and phosphonates importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 91% share of total imports.

Among the main importing countries, Ghana, with a CAGR of +36.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by 3.6% against the previous year. Overall, the import price showed a buoyant expansion. The pace of growth was the most pronounced in 2013 when the import price increased by 132% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritania ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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