ECOWAS: Market for Ammonia In Aqueous Solution 2024

Market Size for Ammonia In Aqueous Solution in ECOWAS

The ECOWAS ammonia in aqueous solution market rose markedly to $X in 2022, growing by X% against the previous year. Overall, consumption showed a resilient expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Ammonia In Aqueous Solution in ECOWAS

In value terms, ammonia in aqueous solution production expanded notably to $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Ammonia In Aqueous Solution

Exports in ECOWAS

In 2022, overseas shipments of ammonia in aqueous solution decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a sharp decrease. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ammonia in aqueous solution exports dropped dramatically to $X in 2022. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana represented the main exporting country with an export of about X tons, which resulted at X% of total exports. Benin (X kg) ranks second in terms of the total exports with a X% share, followed by Senegal (X%). Cote d'Ivoire (X kg) held a minor share of total exports.

Ghana experienced a relatively flat trend pattern with regard to volume of exports of ammonia in aqueous solution. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Benin (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Benin (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) emerged as the largest ammonia in aqueous solution supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Ghana, ammonia in aqueous solution exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate notable growth. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

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 Senegal ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Imports of Ammonia In Aqueous Solution

Imports in ECOWAS

In 2022, purchases abroad of ammonia in aqueous solution decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, ammonia in aqueous solution imports shrank modestly to $X in 2022. Over the period under review, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons) was the key importer of ammonia in aqueous solution, creating X% of total imports. It was distantly followed by Cote d'Ivoire (X tons), comprising a X% share of total imports. The following importers - Senegal (X tons) and Ghana (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ammonia in aqueous solution imports into Nigeria stood at X%. At the same time, Senegal (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire, Senegal and Ghana increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported ammonia in aqueous solution in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, ammonia in aqueous solution imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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 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 Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform