Western Africa: Sulphonamides Market 2024

Sulphonamides Market Size in Western Africa

In 2021, after five years of growth, there was significant decline in the West African sulphonamides market, when its value decreased by -28.9% to $X. The total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 +51.8% against 2015 indices. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Sulphonamides Production in Western Africa

In value terms, sulphonamides production declined to $X in 2021 estimated in export price. In general, production, however, showed pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of 68%. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Sulphonamides Exports

Exports in Western Africa

In 2021, approx. X tons of sulphonamides were exported in Western Africa; growing by 343,800% on 2020 figures. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphonamides exports surged to $X in 2021. In general, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal dominates exports structure, recording X tons, which was near 93% of total exports in 2021. It was distantly followed by Togo (X kg), comprising a 7.1% share of total exports.

Senegal was also the fastest-growing in terms of the sulphonamides exports, with a CAGR of +84.3% from 2012 to 2021. Togo (-8.1%) illustrated a downward trend over the same period. Senegal (+90 p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by -89.4% from 2012 to 2021, respectively.

From 2012 to 2021, the average annual growth rate of value in Senegal amounted to +21.5%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per kg, which is down by -96% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2016 an increase of 16,372%. As a result, the export price reached the peak level of $X per kg. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Togo ($X per kg), while Senegal stood at $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-3.8%).

Sulphonamides Imports

Imports in Western Africa

In 2021, sulphonamides imports in Western Africa shrank rapidly to X tons, with a decrease of -30.1% against 2020 figures. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 76% against the previous year. The volume of import peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, sulphonamides imports plummeted to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 62%. As a result, imports reached the peak of $X, and then fell dramatically in the following year.

Imports by Country

Nigeria was the main importing country with an import of around X tons, which recorded 77% of total imports. Senegal (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (7.8%). Mali (X tons) held a little share of total imports.

Imports into Nigeria increased at an average annual rate of +1.1% from 2012 to 2021. At the same time, Mali (+31.3%) and Senegal (+6.6%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +31.3% from 2012-2021. By contrast, Ghana (-7.2%) illustrated a downward trend over the same period. While the share of Nigeria (+5.9 p.p.), Senegal (+4.5 p.p.) and Mali (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-7.7 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported sulphonamides in Western Africa, comprising 82% of total imports. The second position in the ranking was taken by Ghana ($X), with an 8.9% share of total imports. It was followed by Senegal, with a 3.3% share.

In Nigeria, sulphonamides imports increased at an average annual rate of +1.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-6.9% per year) and Senegal (+1.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, reducing by -28.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 105%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Ghana ($X per ton), while Senegal ($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 (+0.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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