Africa: Nitrates Market 2024

Nitrates Market Size in Africa

The African nitrates market was estimated at $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, recorded a buoyant increase. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the near future.

Nitrates Production in Africa

In value terms, nitrates production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a prominent increase. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Nitrates Exports

Exports in Africa

In 2022, exports of nitrates (excluding those of potassium) in Africa soared to X tons, jumping by X% on the previous year's figure. Overall, exports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, nitrates exports rose sharply to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. The following exporters - Burkina Faso (X tons), Ghana (X tons) and Mali (X tons) - together made up X% of total exports.

Exports from South Africa decreased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%) and Mali (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest nitrates supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with an X% share of total exports. It was followed by Ghana, with a X% share.

In South Africa, nitrates exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, recorded strong growth. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, 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 Burkina Faso ($X per ton), while South Africa ($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 (X%), while the other leaders experienced more modest paces of growth.

Nitrates Imports

Imports in Africa

After two years of growth, supplies from abroad of nitrates (excluding those of potassium) decreased by X% to X tons in 2022. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, nitrates imports surged to $X in 2022. Overall, imports, however, recorded moderate growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Africa (X tons) was the largest importer of nitrates (excluding those of potassium), achieving X% of total imports. Nigeria (X tons) took the second position in the ranking, followed by Kenya (X tons) and Morocco (X tons). All these countries together held near X% share of total imports. Cote d'Ivoire (X tons), Mauritania (X tons), Mali (X tons) and Burkina Faso (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nitrates importing markets in Africa were Nigeria ($X), South Africa ($X) and Morocco ($X), together accounting for X% of total imports.

Morocco, with a CAGR of X%, 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

The import price in Africa stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, continues to indicate a pronounced curtailment. The level of import peaked 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 Burkina Faso ($X per ton), while Kenya ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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