ECOWAS: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in ECOWAS

The ECOWAS market for compounds with other nitrogen function (excluding isocyanates) fell modestly to $X in 2022, shrinking by X% against the previous year. Overall, consumption enjoyed a remarkable increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Compounds With Other Nitrogen Function (Excluding Isocyanates) in ECOWAS

In value terms, compounds with other nitrogen function production dropped to $X in 2022 estimated in export price. In general, production, however, continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports in ECOWAS

Compounds with other nitrogen function exports dropped rapidly to X kg in 2022, reducing by X% compared with the previous year's figure. Over the period under review, exports faced a significant curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped notably in the following year.

In value terms, compounds with other nitrogen function exports fell markedly to $X in 2022. Overall, exports showed a precipitous decrease. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

The biggest shipments were from Senegal (X kg), together finishing at X% of total export.

Senegal was also the fastest-growing in terms of the compounds with other nitrogen function (excluding isocyanates) exports, with a CAGR of X% from 2012 to 2022. Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest compounds with other nitrogen function supplier in ECOWAS.

In Senegal, compounds with other nitrogen function exports plunged by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Overall, the export price continues to indicate a deep slump. The pace of growth was the most pronounced in 2015 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 2016 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2022, the rate of growth in terms of prices for Senegal amounted to X% per year.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports in ECOWAS

In 2022, imports of compounds with other nitrogen function (excluding isocyanates) in ECOWAS soared to X tons, picking up by X% against the previous year's figure. In general, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, compounds with other nitrogen function imports rose remarkably to $X in 2022. Over the period under review, imports recorded a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Nigeria prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. Niger (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together took near X% share of total imports. The following importers - Ghana (X tons), Burkina Faso (X tons) and Senegal (X tons) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Niger (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Senegal and Ghana experienced a relatively flat trend pattern. Nigeria (X p.p.), Niger (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso, Senegal and Ghana saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported compounds with other nitrogen function (excluding isocyanates) in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Burkina Faso, 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 Burkina Faso (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a slight curtailment. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined notably in the following year.

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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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