ECOWAS: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in ECOWAS

The ECOWAS carbon dioxide market expanded markedly to $X in 2022, rising by X% against the previous year. Overall, consumption saw a resilient expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Carbon Dioxide Production in ECOWAS

In value terms, carbon dioxide production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to continue growth in years to come.

Carbon Dioxide Exports

Exports in ECOWAS

Carbon dioxide exports contracted significantly to X tons in 2022, dropping by X% compared with the year before. Over the period under review, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, carbon dioxide exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Nigeria (X tons) was the largest exporter of carbon dioxide, achieving X% of total exports. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Senegal (X%). The following exporters - Burkina Faso (X tons) and Benin (X tons) - together made up X% of total exports.

Nigeria was also the fastest-growing in terms of the carbon dioxide exports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%), Burkina Faso (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.), Senegal (X p.p.), Benin (X p.p.) and Burkina Faso (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, the largest carbon dioxide supplying countries in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined X% share of total exports. Benin and Burkina Faso lagged somewhat behind, together comprising a further X%.

Benin, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. Overall, the export price, however, recorded a deep reduction. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($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 a decline in the export price figures.

Carbon Dioxide Imports

Imports in ECOWAS

In 2022, the amount of carbon dioxide imported in ECOWAS amounted to X tons, picking up by X% against 2021. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, carbon dioxide imports expanded sharply to $X in 2022. In general, imports posted a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

The countries with the highest levels of carbon dioxide imports in 2022 were Senegal (X tons), Guinea (X tons) and Ghana (X tons), together reaching X% of total import. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cabo Verde (X%). Togo (X tons) and Mali (X tons) held a little share of total imports.

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

In value terms, Ghana ($X), Senegal ($X) and Guinea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cote d'Ivoire, Togo, Cabo Verde and Mali lagged somewhat behind, together comprising a further X%.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to 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 ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2015 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 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 Togo ($X per ton), while Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform