ECOWAS: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in ECOWAS

The ECOWAS azo- or azoxy-compounds market stood at $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Azo- Or Azoxy-Compounds Production in ECOWAS

In value terms, azo- or azoxy-compounds production stood at $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; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Azo- Or Azoxy-Compounds Exports

Exports in ECOWAS

In 2022, the amount of diazo-, azo- or azoxy-compounds exported in ECOWAS declined rapidly to X tons, with a decrease of X% on 2021. In general, exports showed a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, azo- or azoxy-compounds exports rose markedly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X kg), committing an X% share of total exports.

Senegal was also the fastest-growing in terms of the diazo-, azo- or azoxy-compounds exports, with a CAGR of X% from 2012 to 2022. Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of 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, Senegal ($X) emerged as the largest azo- or azoxy-compounds supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Export price indicated buoyant 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. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Cote d'Ivoire ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Azo- Or Azoxy-Compounds Imports

Imports in ECOWAS

In 2022, overseas purchases of diazo-, azo- or azoxy-compounds decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports showed a perceptible reduction. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, azo- or azoxy-compounds imports reached $X in 2022. Total imports indicated a modest increase 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, imports decreased by X% against 2020 indices. The pace of growth appeared 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

Nigeria represented the major importer of diazo-, azo- or azoxy-compounds in ECOWAS, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Senegal (X tons). All these countries together took approx. X% share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (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. Cote d'Ivoire experienced a relatively flat trend pattern. From 2012 to 2022, the share of Senegal and Cote d'Ivoire increased by X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest. 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

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Import price indicated a temperate increase 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, azo- or azoxy-compounds import price increased by X% against 2019 indices. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied noticeably 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 Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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