Western Africa: Sulphur Market 2024

Sulphur Market Size in Western Africa

The West African sulphur market reduced modestly to $X in 2022, dropping by -3.6% against the previous year. In general, consumption, however, recorded a precipitous curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sulphur Production in Western Africa

In value terms, sulphur production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 18%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sulphur Exports

Exports in Western Africa

In 2022, overseas shipments of sulphur decreased by -99.9% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a sharp reduction. The pace of growth appeared the most rapid in 2020 when exports increased by 30% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sulphur exports plummeted to $X in 2022. Overall, exports recorded a sharp slump. The pace of growth was the most pronounced in 2020 when exports increased by 31% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the major exporter of sulphur in Western Africa, with the volume of exports recording X tons, which was approx. 55% of total exports in 2022. Ghana (X kg) held the second position in the ranking, distantly followed by Nigeria (X kg). All these countries together took near 43% share of total exports. Togo (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of +7.6%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) emerged as the largest sulphur supplier in Western Africa, comprising 68% of total exports. The second position in the ranking was held by Nigeria ($X), with an 18% share of total exports. It was followed by Ghana, with a 6.1% share.

In Cote d'Ivoire, sulphur exports declined by an average annual rate of -1.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-49.8% per year) and Ghana (-11.9% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, rising by 968% against the previous year. Overall, the export price recorded a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Nigeria ($X per ton), while Ghana ($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 (+16.8%), while the other leaders experienced mixed trends in the export price figures.

Sulphur Imports

Imports in Western Africa

In 2022, supplies from abroad of sulphur was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 32% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sulphur imports declined to $X in 2022. Overall, imports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 24% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Senegal was the largest importing country with an import of about X tons, which amounted to 78% of total imports. Benin (X tons) held the second position in the ranking, followed by Niger (X tons). All these countries together held near 19% share of total imports. Nigeria (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sulphur imports into Senegal stood at +5.3%. At the same time, Nigeria (+16.4%) and Benin (+6.5%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +16.4% from 2012-2022. Niger experienced a relatively flat trend pattern. From 2012 to 2022, the share of Senegal, Benin and Nigeria increased by +22, +4.3 and +2.2 percentage points, respectively.

In value terms, Senegal ($X) constitutes the largest market for imported sulphur in Western Africa, comprising 69% of total imports. The second position in the ranking was held by Niger ($X), with a 19% share of total imports. It was followed by Benin, with a 7.4% share.

In Senegal, sulphur imports shrank by an average annual rate of -1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (-0.4% per year) and Benin (+2.3% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, which is down by -7.5% against the previous year. Overall, the import price recorded a pronounced shrinkage. The growth pace was the most rapid in 2013 when the import price increased by 18% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 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 Niger ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :