Western Africa: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Western Africa

The West African potassium hydroxide market amounted to $X in 2022, surging by 4.4% against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 -15.2% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Potassium Hydroxide Production in Western Africa

In value terms, potassium hydroxide production expanded sharply to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.3% 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 -7.0% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 44%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Potassium Hydroxide Exports

Exports in Western Africa

In 2022, overseas shipments of potassium hydroxide (caustic potash) increased by 49% to X tons, rising for the second year in a row after five years of decline. Overall, exports saw a notable increase. The growth pace was the most rapid in 2013 with an increase of 68%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, potassium hydroxide exports shrank rapidly to $X in 2022. In general, exports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 71%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Niger prevails in exports structure, recording X tons, which was near 87% of total exports in 2022. It was distantly followed by Ghana (X tons), generating a 5.6% share of total exports. Cote d'Ivoire (X tons) and Togo (X tons) held a relatively small share of total exports.

Exports from Niger increased at an average annual rate of +11.5% from 2012 to 2022. At the same time, Cote d'Ivoire (+14.8%) and Ghana (+1.7%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +14.8% from 2012-2022. By contrast, Togo (-17.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger and Cote d'Ivoire increased by +44 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) remains the largest potassium hydroxide supplier in Western Africa, comprising 63% of total exports. The second position in the ranking was held by Ghana ($X), with a 22% share of total exports. It was followed by Togo, with a 5.3% share.

In Niger, potassium hydroxide exports contracted by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+2.3% per year) and Togo (-18.3% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, waning by -51.3% against the previous year. Overall, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2021 when the export price increased by 62% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.5%), while the other leaders experienced a decline in the export price figures.

Potassium Hydroxide Imports

Imports in Western Africa

In 2022, overseas purchases of potassium hydroxide (caustic potash) decreased by -57.2% to X tons, falling for the second year in a row after five years of growth. In general, imports, however, enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 129%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium hydroxide imports contracted dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a modest expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 123% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of potassium hydroxide imports in 2022 were Nigeria (X tons), Ghana (X tons) and Cote d'Ivoire (X tons), together finishing at 80% of total import. Togo (X tons) ranks next in terms of the total imports with a 5.2% share, followed by Burkina Faso (5.1%). The following importers - Gambia (X tons) and Senegal (X tons) - together made up 6.1% of total imports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +15.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, together comprising 83% of total imports.

Cote d'Ivoire, with a CAGR of +10.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2021 an increase of 37% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+11.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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