ECOWAS: Organo-Sulphur Compound Market 2023

Organo-Sulphur Compound Market Size in ECOWAS

In 2022, the ECOWAS organo-sulphur compound market decreased by -18.6% to $X, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Organo-Sulphur Compound Production in ECOWAS

In value terms, organo-sulphur compound production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% 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 when the production volume increased by 18% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Organo-Sulphur Compound Exports

Exports in ECOWAS

In 2022, approx. X tons of organo-sulphur compounds were exported in ECOWAS; surging by 8.1% on the previous year. Over the period under review, exports saw a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 271% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, organo-sulphur compound exports expanded notably to $X in 2022. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 131%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Cote d'Ivoire represented the major exporting country with an export of around X tons, which accounted for 64% of total exports. It was distantly followed by Ghana (X tons), committing a 33% share of total exports. Senegal (X tons) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +70.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest organo-sulphur compound supplier in ECOWAS, comprising 77% of total exports. The second position in the ranking was taken by Ghana ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled +55.4%. In the other countries, the average annual rates were as follows: Ghana (+20.2% per year) and Senegal (+43.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, picking up by 2.7% against the previous year. Overall, the export price saw prominent growth. The growth pace was the most rapid in 2014 when the export price increased by 137%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Ghana ($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 (+8.3%), while the other leaders experienced mixed trends in the export price figures.

Organo-Sulphur Compound Imports

Imports in ECOWAS

In 2022, overseas purchases of organo-sulphur compounds decreased by -53.7% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 66%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, organo-sulphur compound imports declined sharply to $X in 2022. Overall, imports saw a perceptible decline. The pace of growth was the most pronounced in 2014 with an increase of 62% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria (X tons) and Ghana (X tons) represented roughly 75% of total imports in 2022. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Burkina Faso (X tons). All these countries together held approx. 18% share of total imports. Senegal (X tons) and Benin (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ghana (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported organo-sulphur compounds in ECOWAS, comprising 54% of total imports. The second position in the ranking was taken by Ghana ($X), with a 21% share of total imports. It was followed by Cote d'Ivoire, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled -5.4%. In the other countries, the average annual rates were as follows: Ghana (+11.8% per year) and Cote d'Ivoire (-2.2% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by 8.5% against the previous year. Overall, the import price, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2015 when the import price increased by 11%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 Nigeria (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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