ECOWAS: Borates And Perborates Market 2024

Borates And Perborates Market Size in ECOWAS

In 2023, the ECOWAS borates and perborates market decreased by X% to $X, falling for the third consecutive year after two years of growth. The total consumption indicated a mild increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Borates And Perborates Production in ECOWAS

In value terms, borates and perborates production contracted slightly to $X in 2023 estimated in export price. Overall, production, however, saw buoyant growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2023.

Borates And Perborates Exports

Exports in ECOWAS

In 2023, the amount of borates, peroxoborates (perborates) exported in ECOWAS declined dramatically to X tons, falling by X% compared with the previous year. Overall, exports saw a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, borates and perborates exports dropped sharply to $X in 2023. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Niger represented the major exporter of borates, peroxoborates (perborates) in ECOWAS, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Burkina Faso (X%) and Ghana (X%).

Niger was also the fastest-growing in terms of the borates, peroxoborates (perborates) exports, with a CAGR of X% from 2012 to 2023. Cote d'Ivoire (X%), Ghana (X%) and Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Burkina Faso (X p.p.) displayed negative dynamics.

In value terms, Niger ($X) remains the largest borates and perborates supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Niger totaled X%. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. In general, the export price recorded a mild increase. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced mixed trends in the export price figures.

Borates And Perborates Imports

Imports in ECOWAS

In 2023, overseas purchases of borates, peroxoborates (perborates) decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, borates and perborates imports shrank to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Cote d'Ivoire was the major importer of borates, peroxoborates (perborates) in ECOWAS, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. Senegal (X tons) held the second position in the ranking, followed by Mali (X tons) and Nigeria (X tons). All these countries together held approx. X% share of total imports. Burkina Faso (X tons), Ghana (X tons) and Sierra Leone (X tons) took a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to borates and perborates imports into Cote d'Ivoire stood at X%. At the same time, Senegal (X%), Burkina Faso (X%) and Mali (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Sierra Leone (X%), Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Senegal, Mali, Burkina Faso and Cote d'Ivoire increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported borates, peroxoborates (perborates) in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Mali, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Cote d'Ivoire was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Mali (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price showed a mild curtailment. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform