Western Africa: Ureines Market 2024

Ureines Market Size in Western Africa

The West African ureines market shrank to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, enjoyed a temperate increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Ureines Production in Western Africa

In value terms, ureines production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Ureines Exports

Exports in Western Africa

In 2022, after six years of growth, there was decline in shipments abroad of ureines and their derivatives and salts thereof, when their volume decreased by X% to X kg. Over the period under review, exports recorded a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, ureines exports shrank to $X in 2022. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Cote d'Ivoire (X kg), together reaching X% of total export.

Cote d'Ivoire was also the fastest-growing in terms of the ureines and their derivatives and salts thereof exports, with a CAGR of X% from 2012 to 2022. While the share of Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) also remains the largest ureines supplier in Western Africa.

In Cote d'Ivoire, ureines exports plunged by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2012 to 2022, the rate of growth in terms of prices for Cote d'Ivoire amounted to X% per year.

Ureines Imports

Imports in Western Africa

In 2022, the amount of ureines and their derivatives and salts thereof imported in Western Africa shrank significantly to X tons, with a decrease of X% compared with the year before. In general, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ureines imports contracted modestly to $X in 2022. Overall, imports continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria represented the key importer of ureines and their derivatives and salts thereof in Western Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Ghana (X tons) took the second position in the ranking, distantly followed by Sierra Leone (X tons) and Cote d'Ivoire (X tons). All these countries together held approx. X% share of total imports. Senegal (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ureines imports into Nigeria stood at X%. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Sierra Leone (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Sierra Leone (X p.p.), Cote d'Ivoire (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) and Nigeria (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported ureines and their derivatives and salts thereof in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Sierra Leone (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, surging by X% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ureines import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the 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 Senegal ($X per ton), while Ghana ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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