Western Africa: Market for Caustic Soda in the Solid Form 2024

Exports of Caustic Soda in the Solid Form

Exports in Western Africa

For the third consecutive year, Western Africa recorded decline in overseas shipments of caustic soda in the solid form, which decreased by -5.9% to X tons in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 63% against the previous year. Over the period under review, the exports of caustic soda in solid form attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of caustic soda in the solid form shrank to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 53% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

In 2021, Cote d'Ivoire (X tons), distantly followed by Ghana (X tons), Senegal (X tons) and Nigeria (X tons) represented the key exporters of caustic soda in the solid form, together constituting 85% of total exports. Mali (X tons), Liberia (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Liberia (with a CAGR of +13.9%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest caustic soda in the solid form supplier in Western Africa, comprising 67% of total exports. The second position in the ranking was taken by Senegal ($X), with a 10% share of total exports. It was followed by Ghana, with an 8.7% share.

In Cote d'Ivoire, exports of caustic soda in the solid form expanded at an average annual rate of +9.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (+9.2% per year) and Ghana (-2.9% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 27%. 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 remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+10.7%), while the other leaders experienced more modest paces of growth.

Imports of Caustic Soda in the Solid Form

Imports in Western Africa

In 2021, overseas purchases of caustic soda in the solid form decreased by -3.8% to X tons for the first time since 2017, thus ending a three-year rising trend. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.7% against 2016 indices. The pace of growth was the most pronounced in 2016 when imports increased by 39% against the previous year. Over the period under review, imports of caustic soda in solid form attained the maximum at X tons in 2020, and then contracted modestly in the following year.

In value terms, imports of caustic soda in the solid form expanded significantly to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 2016 with an increase of 68% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Nigeria was the largest importing country with an import of around X tons, which reached 40% of total imports. Cote d'Ivoire (X tons) ranks second in terms of the total imports with an 18% share, followed by Ghana (16%) and Guinea (5.7%). Senegal (X tons), Burkina Faso (X tons), Mali (X tons), Togo (X tons), Niger (X tons) and Benin (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to caustic soda in the solid form imports into Nigeria stood at +5.9%. At the same time, Senegal (+10.1%), Guinea (+7.6%), Togo (+6.7%), Ghana (+6.3%), Cote d'Ivoire (+6.1%), Mali (+3.8%), Benin (+3.7%), Burkina Faso (+3.3%) and Niger (+1.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +10.1% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported caustic soda in the solid form in Western Africa, comprising 42% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 18% share of total imports. It was followed by Ghana, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +6.6%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+6.5% per year) and Ghana (+1.9% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, rising by 14% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 28%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat 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 Mali ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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