ECOWAS: Carbonate Market 2024

Carbonate Market Size in ECOWAS

The ECOWAS carbonate market rose rapidly to $X in 2022, picking up by X% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Carbonate Production in ECOWAS

In value terms, carbonate production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Carbonate Exports

Exports in ECOWAS

In 2022, shipments abroad of carbonates and peroxocarbonates decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2015 with an increase of X%. The volume of export peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, carbonate exports dropped significantly to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mali represented the key exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Cote d'Ivoire (X tons) and Senegal (X tons), together constituting a X% share of total exports. Nigeria (X tons) and Ghana (X tons) followed a long way behind the leaders.

Mali was also the fastest-growing in terms of the carbonates and peroxocarbonates exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%), Ghana (X%) and Nigeria (X%) illustrated a downward trend over the same period. While the share of Mali (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (X p.p.), Ghana (X p.p.), Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest carbonate supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Mali ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

In Cote d'Ivoire, carbonate exports plunged by 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: Mali (X% per year) and Senegal (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price recorded a deep contraction. The pace of growth was the most pronounced in 2013 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 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 ($X per ton), while Mali ($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.

Carbonate Imports

Imports in ECOWAS

In 2022, the amount of carbonates and peroxocarbonates imported in ECOWAS skyrocketed to X tons, surging by X% on the previous year's figure. Total imports indicated buoyant growth from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, carbonate imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the largest importer of carbonates and peroxocarbonates in ECOWAS, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%), Senegal (X%) and Burkina Faso (X%). Togo (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to carbonate imports into Nigeria stood at X%. At the same time, Togo (X%), Senegal (X%), Burkina Faso (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated notable growth 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, carbonate import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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