ECOWAS: Rare Gases Market 2024

Rare Gases Market Size in ECOWAS

The ECOWAS rare gases market contracted modestly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption saw a slight decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Rare Gases Production in ECOWAS

In value terms, rare gases production fell slightly to $X in 2022 estimated in export price. Over the period under review, production showed a slight setback. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Rare Gases Exports

Exports in ECOWAS

In 2022, approx. X cubic meters of rare gases (excluding argon) were exported in ECOWAS; picking up by X% compared with the previous year's figure. In general, exports, however, continue to indicate a dramatic decline. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, rare gases exports contracted significantly to $X in 2022. Overall, exports, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal prevails in exports structure, accounting for X cubic meters, which was near X% of total exports in 2022. Ghana (X cubic meters) took the second position in the ranking, followed by Benin (X cubic meters). All these countries together took approx. X% share of total exports. Burkina Faso (X cubic meters) followed a long way behind the leaders.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%), Ghana (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Ghana (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 Senegal (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X), Senegal ($X) and Burkina Faso ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 cubic meter, falling by X% against the previous year. Overall, the export price, however, showed a significant increase. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2021, and then declined markedly in the following year.

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 Ghana ($X per cubic meter), while Senegal ($X per cubic meter) 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.

Rare Gases Imports

Imports in ECOWAS

In 2022, rare gases imports in ECOWAS rose sharply to X cubic meters, surging by X% compared with the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X cubic meters in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, rare gases imports declined to $X in 2022. Over the period under review, imports enjoyed pronounced growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Senegal (X cubic meters), distantly followed by Benin (X cubic meters), Nigeria (X cubic meters), Niger (X cubic meters) and Ghana (X cubic meters) represented the key importers of rare gases (excluding argon), together committing X% of total imports. Cote d'Ivoire (X cubic meters) held a little share of total imports.

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

In value terms, Nigeria ($X), Niger ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

In 2022, the import price in ECOWAS amounted to $X per cubic meter, with a decrease of X% against the previous year. Over the period under review, the import price, however, showed pronounced growth. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, import price attained the peak level of $X per cubic meter. From 2018 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per cubic meter), while Senegal ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform

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